Billionaire Tom Steyer Says He Won't Run for Office

SOTU Steyer Axelrod_00000419

Billionaire Tom Steyer pledged on Monday to spend $30 million through his NextGen America organization to help Democrats win congressional seats in the 2018 midterms.

Steyer, who has repeatedly flirted with running for office in California, was weighing a challenge against Sen.

Steyer was the biggest individual political donor in the 2016 election, and his decision removes some uncertainty for California's races for governor and U.S. Senate. The "most important task for me is ... organizing and mobilizing America's voters".

The $30 million will be used to mobilize young voters in 10 key states: Florida, Virginia, Wisconsin, Michigan, Nevada, California, Pennsylvania, Iowa, New Hampshire and Arizona, Steyer said. If he had run, he would have been her second major Democratic challenger - state Senate leader Kevin de León announced a run in October.

Steyer, a hedge fund manager turned environmental activist, has been the left's biggest political spender for two straight election cycles, but he has failed to see a return on his investment.

"I am willing to do whatever it takes to help save our country", Steyer said. "We now know that the Republican Party will not cross a president who controls their base no matter what he says or does". "This tide will wash away the stain of the Trump administration".

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Since that time, he has spent millions of his own dollars on progressive causes, including a $20 million television advertising campaign in 2017 encouraging voters to sign on to a petition supporting the impeachment of President Donald Trump.

The environmentalist is one of the wealthiest Democratic donors in politics - he spent more than $91 million during the 2016 campaign, including donations to candidates, super PACs and NextGen America.

His ultimate goal is to have Trump removed from office.

"By my count, Donald Trump has committed at least eight impeachable offenses", Steyer said Monday. When asked about the 2020 elections-and who he could support-he declined to look beyond the immediate horizon of the midterm elections.

Steyer did not specify how much money he would be putting in the new campaign.

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