Steyer won’t run for Boxer’s Senate seat
Billionaire Tom Steyer announced Thursday that he will not run for the California Senate seat being vacated by Barbara Boxer.
The news ends speculation about whether Steyer, an outspoken environmentalist and former hedge fund manager, will insert himself into the race.
“I applaud and respect those running, and am confident that Californians will choose a representative who will serve them well,” Steyer wrote in a blog post published by The Huffington Post. “Given the imperative of electing a Democratic president — along with my passion for our state — I believe my work right now should not be in our nation’s capital but here at home in California, and in states around the country where we can make a difference.”
Steyer would have faced an uphill battle against Democrat Kamala Harris, California’s well-known state attorney general, who formally launched her Senate bid earlier this month.
Other possible candidates include former Los Angeles Mayor Antonio Villaraigosa, Rep. Xavier Becerra and Alex Padilla, the just-elected California secretary of state.
In the blog post, Steyer said he intends to “redouble my efforts working with partners and fellow citizens to push for change.”
An aide explained that Steyer will continue to try to make climate change a bigger political issue through his 501(c)(4) organization, NextGen Climate, and its associated super PAC. The aide added that he also hopes to expand his work to “feature economic inequality and education access as major priorities.”
Steyer, who announced in 2012 that he would step down from the hedge fund he founded, spent more than $65 million during the 2014 midterm elections, though only three of the seven candidates he backed won their races.
The aide said President Barack Obama’s remarks on climate change during Tuesday’s State of the Union address convinced Steyer that he could affect more change outside of government.
Steyer remains interested in seeking public office, possibly the governorship of California in 2018.
It “would need to be the right office and be an office where he believes he can do more and accomplish more in the inside than he can from the outside,” according to the aide.