Full Breakdown
Tom Steyer's $195 Million Advertising Blitz Redefines California Gubernatorial Race
5/27/2026, 10:03:50 PM
Record-Breaking Advertising Campaign
Billionaire Democrat Tom Steyer has booked over $195 million for broadcast-TV, cable and radio ads in the 2026 California governor’s race, per AdImpact. The spend is more than twenty times that of his nearest rival, Xavier Becerra, and exceeds the $178.5 million primary outlay of Republican Meg Whitman in 2010.
Background & Context
California’s top-two primary places all candidates on one ballot, with the two highest vote-getters advancing to November. More than 50 candidates, including Steyer, Becerra and Republican Steve Hilton, compete on June 2. The race occurs amid a homelessness crisis, wildfire-insurance shortages, budget pressures and rising living costs.
Key Figures & Groups
Tom Steyer – billionaire hedge-fund manager and 2020 presidential candidate; Xavier Becerra – former state attorney general and Biden health secretary; Katie Porter – former U.S. Representative and critic; Steve Hilton – Republican contender; Rick Jackson – Georgia health-care executive; Burt Jones – Georgia lieutenant governor endorsed by Donald Trump; Andrew Acosta – Democratic consultant.
Data & Statistics
Steyer’s $195 million dwarfs Becerra’s roughly $9-10 million. Georgia’s Rick Jackson has spent about $83 million; Burt Jones $31 million; Raja Krishnamoorthi $28 million. Steyer’s campaign paid a Texas influencer $100,000, a tactic also used by Becerra.
Official Statements & Responses
Porter’s campaign emailed supporters that Steyer “isn’t spending hundreds of millions of dollars of wealth trying to buy governor’s office.” Becerra’s TV ad urged voters to “stop endless Tom Steyer ads.” In a 2019 interview Steyer said he would not apologize for his business success and dismissed claims of buying the office.
Verbatim Quotes
- “She isn’t spending hundreds of millions of dollars of personal wealth trying to buy the governor’s office,” — Katie Porter’s campaign, email to supporters
- “I don’t think that’s possible,” — Tom Steyer, 2019 AP interview
- “I’m never going to apologize for succeeding in business. That’s America, right?” — Tom Steyer, 2019 AP interview
- “You can stop the endless Tom Steyer ads. Vote Xavier Becerra.” — Becerra campaign advertisement
- “In a race this close, it all matters,” — Andrew Acosta, Democratic consultant
Criticism & Opposition
Porter and other Democrats argue Steyer’s spending threatens electoral fairness and amounts to an attempt to “buy” the governor’s seat. Earlier costly campaigns—Rick Caruso’s $100 million Los Angeles loss, Michael Bloomberg’s $1 billion 2020 bid, and Steyer’s 2020 exit—show money alone does not guarantee victory.
Conflicting Reports & Gaps
AdImpact’s totals exclude ads on streaming services like Hulu and YouTube, so the actual spend may be higher. While Steyer’s raw figure surpasses Whitman’s 2010 primary outlay, inflation-adjusted calculations still list Whitman as the state record holder.
Why It Matters
The campaign shows how personal wealth can dominate media exposure in a high-stakes primary, shaping voter perception and prompting debate over campaign-finance norms, especially as California faces severe housing, homelessness and budget challenges.
What’s Next
The June 2 primary will select the two candidates who advance to the November ballot under California’s top-two system. Observers will watch whether Steyer’s ad dominance translates into votes amid a crowded field and state issues.
