Adviser: Billionaire Steyer Won't Run for President in 2020

Remigio Civitarese
Gennaio 11, 2019

Tom Steyer, the billionaire liberal activist who has poured millions into electing progressive candidates in recent years, announced Wednesday that he will not seek the Democratic presidential nomination in 2020, instead he says he is redoubling his efforts to impeach President Donald Trump.

But Steyer, who chose the premier presidential caucus state to make his announcement, likened his mission to seeking the presidency itself.

"The impeachment question has reached an inflection point", Steyer wrote on Twitter.

Steyer also said at the earlier event that he would be dedicating $40 million to the impeachment effort. Instead he says he'll focus his efforts and his money on pushing Trump out of office before election day.

Steyer said he spent $120 million on the 2018 midterm elections, investing heavily in youth turnout, which he called an untapped source of Democratic support.

Some of his money has gone to his Need to Impeach campaign against Trump.

Steyer has spent millions on Democratic causes over the last decade and most recently became known for his impeachment work, which included a slew of TV ads featuring the billionaire himself.

Numerous indicators have shown that over the previous year, many Democrats consider the impeachment issue more politically hard than Steyer has made it sound.

He may face another self-funded billionaire candidate in Michael Bloomberg, the former mayor of NY, who has more of a national profile.

Steyer, according to people close to the billionaire, including his spokeswoman Aleigha Cavalier, had seriously considered running for president, including by courting possible staffers in key states and homing in on a campaign manager for a potential bid.

"I'm thinking about it in terms of what I can bring that isn't already available", he said.

Shortly after election results showed Democrats would retake the majority in the House, Steyer launched a new "Need to Impeach" ad that ran in the districts of numerous newly elected representatives. "Unless I believe that my background and my beliefs and my priorities are different from the other people who are running, there's really no point in being on of a very large group of contestants".

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