Tom Steyer Finishes Third in California Governor Primary After Spending $558 Million, Becoming Progressives’ Top Choice
The former hedge fund manager placed behind a British-born strategist in the June 2026 Democratic primary, ending his second self-funded statewide bid.
SemaforTom Steyer finished third in the 2026 California gubernatorial primary after spending $558 million across his runs for president and governor, Semafor reported on June 10. S. citizen five years ago.
U.S. political history, according to the same report. The 2026 primary was the state’s fourth under the top-two system and the first without a clearly dominant candidate.
After Eric Swalwell quit the race, former Health and Human Services Secretary Xavier Becerra moved into a tie with Trump-backed Republican Steve Hilton; the California Democratic Party’s final poll showed Becerra clearly ahead. Steyer’s campaign saturated television, tablets, and phones in the closing weeks.
In those ads he apologized for opposing single-payer health care in 2020, saying “Bernie was right,” and quoted Franklin D.
Cenk Uygur, the Los Angeles-based progressive activist, told Semafor that voters remained focused on preventing two Republicans from advancing. “No one was excited about Becerra, but everyone I talked to was worried about two Republicans advancing, and kept asking who Democratic leaders wanted us to vote for,” Uygur said.
Steyer hired the New York firm Fight Agency, which had previously helped elect Zohran Mamdani and elevate Graham Platner.
His campaign also criticized Becerra’s corporate backing while Steyer himself faced repeated questions about earlier investments in private prisons and fossil fuels. By the end of the race Steyer had become the preferred choice of progressive voters, yet the volume of his advertising appeared to fatigue some Californians, Los Angeles Times reporters Seema Mehta and Nicole Nixon wrote.
