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The Actual News

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Billionaire Tom Steyer’s ad spending breaks records in California governor’s race

Billionaire Tom Steyer’s ad spending breaks records in California governor’s race

Summary

Billionaire Tom Steyer is spending more money on ads than anyone else in the 2026 California governor race, with over $195 million used to promote his campaign. His spending is much higher than other candidates, giving him more visibility as the election approaches.

Key Facts

  • Tom Steyer has spent or booked over $195 million on TV, radio, and cable ads for the California governor race.
  • His ad spending is the highest in the U.S. for any governor race in 2026 and more than 20 times that of his closest rival, Xavier Becerra.
  • The second highest ad spender is Rick Jackson in Georgia, with about $83 million in his primary campaign.
  • Steyer’s spending broke the previous California record set by Meg Whitman in 2010, who spent $178.5 million in her governor race.
  • Critics say Steyer is using his personal wealth to try to "buy" the governor’s office.
  • Seven Democrats, including Katie Porter, are running in the California race against Steyer, but she and others have less money for ads.
  • Steyer’s heavy advertising has helped him stay competitive but he has not pulled far ahead of other top candidates yet.
  • The primary election will be held on June 2, with mail voting already started.
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