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Billionaire Democratic socialist Bernie Sanders’ opposition party has endorsed the billionaire’s first candidate, Tom Steyer, in a packed arena campaigning to become California’s next governor.
Our Reform Platform is focused on eliminating corporate and billionaire influence in politics and supporting candidates who vow to spend big on politics. But that did not stop their admiration for Steyer, who has spent approximately 120 million dollars on his campaign, about 30 times more than his Democratic Alliance rivals.
Although Our Revolution acknowledges that Steyer is a billionaire in its endorsement, the grassroots group suggests that he is putting his wealth to good use by running a campaign focused on left-leaning measures like single-payer health care, removing corporate influence from politics and “excessive wealth taxes.” The group also said their endorsement is “about winning,”
“Tom Steyer understands that California’s unaffordability problem is inevitable — it’s the result of a political system shaped by accumulated wealth and corporate power that harms working people,” Our Revolution Executive Director Joseph Geevarghese said in a statement. “At a time when many are defending the status quo, Tom has taken a different approach – challenging a system that benefits people like him.”
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Tom Steyer speaks on stage at the 2024 TIME Earth Awards Gala for the second time on April 24, 2024 in New York City. (Roy Rochlin/Getty Images for TIME)
Sanders, who has long criticized the existence of billionaires, called Steyer a “friend,” but also said he was not a “fan of billionaires getting involved” in politics.
Our revolution also said that supporting Steyer is based on the need to support a “winner”.
“In high-stakes races where Republicans can take top office, rallying behind a candidate with values and building momentum is critical,” Our Revolution said in a statement. “Our lobbyists in California see the real power of Steyer for Governor – and that grassroots cooperation helped drive this decision.”
Tom Steyer speaks on stage at the 2023 TIME100 Jazz Conference at Lincoln Center on April 25, 2023 in New York City. (Jemal Countess/Getty Images for TIME)
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Steyer has raised $161,485.47 from individual donors, which is less than 1% of his campaign funds, with the rest coming from his own personal wealth, according to state filings.
Steyer made his fortune using a $20 billion hedge fund that invested millions of dollars in coal companies and a private prison company that owned immigration detention centers. He has publicly blamed himself for one of his jobs with a hedge fund, sharing that it is what inspired him to take steps to the left.
Since leaving the hedge fund in 2012, Steyer has invested his money and time in climate change and clean energy initiatives, and has been behind at least three successful state ballot measures in California. He also made an unsuccessful 2020 presidential run.
Sen. Bernie Sanders (VT) walks towards the Senate Chamber on December 11, 2025 in Washington, DC. (Heather Diehl/Getty Images)
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“Our revolution has done the hard, important work of organizing and empowering progressive voters for a decade,” Steyer said. “I am honored to receive this endorsement, and as Governor, I will work tirelessly to achieve our shared vision of a California that works for working people.”
Fox News Digital has reached out to Steyer and Our Revolution for comment.
