Steyer's Cash Flood in CA Governor Race

0:00It's April 19th, Global News Today starts now, AI powered and always on. Billionaire Tom Steyer is dropping massive cash into California's wide-open governor race, flooding TV, cable, radio, and phones with ads. He's already spent or booked over $115 million, about 30 times what his closest Democratic rival has put in, that doors to combined spending of all major competitors and their support groups by tens of millions. Earlier this month, mail-in ballots started going out ahead of the June 2nd primary, where the top two vote getters advance, no matter their party. Steyer's rivals, like former Congresswoman Katie Porter, call it a billionaire bid to buy the job. The race shook up when Democrat Eric Swalwell dropped out over sexual assault claims he denies, and President Trump backed Republican Steve Hilton. Boaters and experts are reacting with a shrug. Polls show Steyer ticking up a bit from his ad blitz, but no one's breaking away in a field

1:00of seven top Democrats and two Republicans. Veteran's strategy Bill Carrick says more ads won't fix whatever's holding Steyer back, as the race feels frozen without a star. History backs that up. Big money doesn't always win. Rick Caruso blew over $100 million on L.A. Mayor last year, and lost big. Michael Bloomberg spent over $1 billion on his presidential run before. Quitting, and Steyer himself flamed out early in 2020 primaries despite heavy spending. He's never held elected office. Meanwhile, Steyer grabbed the key endorsement from the California Teachers Association after Swalwell's exit, pushing promises to cut housing costs and end immigration raids. With Democrats worried about splitting the vote, this cash fueled scrum heads into crunch time, still anyone's game.