Steyer’s $195 – Billionaire Democrat Tom Steyer has spent or booked more than $195 million in California governor ads, far outpacing the field as the race heads toward the June 2 top-two primary. His financial advantage has boosted visibility, drawn accusations of trying to “
For days, California voters have been staring at the same message—sometimes in tranquil waves of Joshua trees and redwoods, sometimes in the relentless repetition of broadcast TV, cable and radio. And with every new buy, one name stays at the center of the chaos: Tom Steyer.
Steyer. a former hedge fund manager turned liberal activist. has spent or booked more than $195 million in ads for broadcast TV. cable and radio. according to data compiled by advertising tracker AdImpact. The total is still growing. In a race where attention can decide who makes it to November. the campaign’s ad volume already dwarfs everyone around him.
Steyer’s outlay represents more than 20 times the amount spent by his nearest rival, fellow Democrat Xavier Becerra, as the two compete for a spot in the November election. No one nationally is close to Steyer’s pace.
In Georgia. Republican health care executive Rick Jackson has spent about $83 million on advertising in his primary race for governor. which is headed for a June runoff—ranking him second. The third place spot is held by Republican rival Lt. Gov. Burt Jones, who has President Donald Trump’s endorsement and has spent nearly $31 million on ads, according to AdImpact. In Illinois, Democratic U.S. Rep. Raja Krishnamoorthi has spent over $28 million on advertising for a failed bid for U.S. Senate.
On the ground in California, Steyer’s spending has turned into a political lightning rod. Katie Porter—a former U.S. House member and one of seven established Democrats in the race—has repeatedly criticized Steyer for dipping into his personal fortune to keep ads in front of voters with scant competition from rivals. “She isn’t spending hundreds of millions of dollars of personal wealth trying to buy the governor’s office. ” her campaign wrote in an email to supporters.
The numbers also set up a high-stakes comparison to earlier megabucks races. In raw numbers. Steyer’s ad blitz has eclipsed the 2010 record set by Republican Meg Whitman. who spent $178.5 million in total on a losing bid for governor—much of it her own money. At the time, it was the costliest campaign for statewide office in the nation’s history. When adjusted for inflation. however. Whitman still holds the state record. but that figure represented spending for the full election rather than just the primary.
Steyer’s spending is not translating into a clean lock on the race. The campaign is headed toward a June 2 primary in a crowded field with no clear leader. Steyer is among a leading group of several candidates, including Becerra and Republican Steve Hilton. Mail voting started earlier this month.
His cash advantage still matters—especially as the contest moves into its final stretch. He has kept up a steady flow of advertising and online posts questioning Becerra’s credentials and record. while Becerra. a former state attorney general and Biden administration health secretary. lacks the funds to reply in kind.
One Becerra ad tried to speak directly to voters who might be growing weary of Steyer’s message. It used tranquil scenes of Joshua trees, waves curling on a beach and soaring redwoods with a gentle prod: “You can stop the endless Tom Steyer ads. Vote Xavier Becerra.”
Steyer’s financial edge has also allowed the campaign to press beyond traditional TV and radio. It has maintained steady posts on online platforms like YouTube and Instagram. The New York Times reported that Steyer’s campaign paid a progressive Texas influencer $100,000 to help Steyer win the election. The Sacramento Bee reported that Becerra, too, had hired an influencer.
For many voters, the sheer scale of the spending is arriving in a race that offers no single, obvious star. More than 50 names will be on the ballot. California uses a “top two” primary system that puts all candidates on one ballot. with only the top two vote-getters advancing to November. regardless of party. “In a race this close, it all matters,” said Democratic consultant Andrew Acosta.
Even so, money has never been a guaranteed route to victory. History shows that spending does not always translate into votes. Billionaire developer Rick Caruso spent over $100 million in 2022 in his bid to become Los Angeles mayor. much of it his own money. but he was handily defeated by Mayor Karen Bass. who spent a fraction of Caruso’s total. Billionaire former New York City Mayor Michael Bloomberg spent more than $1 billion of his own money on his 2020 presidential bid before dropping out. Steyer’s own previous attempt at national office ended differently too—his money did not lift him into contention in the 2020 presidential contest. when he dropped out early in the year after a poor finish in the South Carolina primary.
Steyer has also faced questions that follow him beyond the checkbook. He has never held elected office.
In a 2019 interview with The Associated Press, Steyer was asked what he would say to people who think he’s trying to buy the presidency. “I don’t think that’s possible,” Steyer said at the time, before adding, “I’m never going to apologize for succeeding in business. That’s America, right?”
The stakes of this campaign aren’t abstract. California voters are dealing with a long-running homeless crisis. wildfire insurance shortages. projected budget shortfalls and housing costs that are out of reach for many working-class families. They’re also saddled with growing everyday bills for groceries, utilities and gas.
And even the ad totals available to the public may not tell the full picture. The AdImpact data does not include ads on some popular streaming services like Hulu and YouTube or mail advertising.
So as Steyer’s spending continues to climb and rivals scramble for response, the question underneath the dollar amounts is simple: will visibility turn into votes in a top-two primary where the margin can be unforgiving? Or will voters tune out—no matter how many times the ads appear?
Tom Steyer Xavier Becerra California governor race June 2 primary top two primary political advertising AdImpact Katie Porter Steve Hilton Rick Jackson Burt Jones Raja Krishnamoorthi Meg Whitman campaign spending