Monday, 21 October, 2019

Tom Steyer, Billionaire Impeachment Activist, Jumps into 2020 Presidential Race

Tom Steyer speaks during the California Democrats 2019 State Convention at the Moscone Center Tom Steyer, Billionaire Environmental Activist, Is Latest To Run Against Trump
Patty Aguilar | 10 July, 2019, 07:51

Steyer, 62, is worth an estimated $1.6 billion, according to Forbes.

His announcement comes nearly six months after he traveled to Iowa to declare that he would focus exclusively on impeachment efforts against Trump, instead of launching a White House run. She said, however, that Steyer could be "a surprising candidates after a few weeks".

Sens. Elizabeth Warren of MA and Bernie Sanders of Vermont, who are competing for the support of liberal voters in the Democratic presidential primary, decried the influence of billionaires in the 2020 race. "That's why I'm running for president", he added.

Steyer's entrance into the race could shake up the primary field. He made his fortune during his 26 years running the hedge fund Farallon Capital before selling his stake to focus on environmental and political causes.

He will instead be seeking re-election to the House of Representatives.

Besides his vast wealth, his two organizations have a very large grassroots reach.

Steyer joins a crowded Democratic primary that has already participated in the first round of primary debates. The other way to qualify - reaching 1 percent in three qualifying polls - appears to be out of reach since Steyer has not been listed on most 2020 surveys.

Tina Podlodowski, chair of the Washington State Democrats, criticized Steyer's announcement on Twitter, urging him to reconsider how he'd spend his money.

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At the time he said he'd focus on pushing Congress to start impeachment proceedings against the president and vowed to spend $30 million behind his efforts.

Steyer allies have told The Washington Post that he had grown increasingly dissatisfied with the almost two dozen Democrats already in the running for the White House.

On Tuesday, Steyer did not mention Trump's impeachment, although the president was briefly seen in the video, as was former campaign Chairman Paul Manafort, who was seen being led away in handcuffs. He has not commented since Mr Steyer's campaign launch.

Steyer has been a force in Democratic fundraising over the past decade.

Steyer changed course Tuesday, however, announcing that he would enter the race for president after all, keeping the number of major candidates in the race for the Democratic presidential nomination at 25, with Rep. Eric Swalwell (D-Calif.) dropping out of the race on Monday.

Tom Steyer has joined the race to stop Donald Trump from being re-elected.

Paul Steinhauser is a politics reporter based in New Hampshire.

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