Billionaire Steyer Says He Has No Plans to Run in California Recall Election

Tom Steyer, the billionaire Democrat who sought the party’s presidential nomination last year, said he has no plans to challenge California Governor Gavin Newsom in what’s likely to be a recall election later this year.

“I have no plans to run for governor,” Steyer said in an interview on Bloomberg TV Wednesday. “I am opposed to the recall. I think that it’s a Republican attack on a Democratic governor.”

Billionaire Steyer Says He Has No Plans to Run in California Recall Election

Supporters of the recall effort say they have submitted more than 2 million signatures, more than enough to force an election if they’re verified as legitimate. Newsom, a Democrat in his first term, has seen a backlash against his coronavirus policies, mostly surrounding the state’s lockdown and mask-wearing mandates. The state, which has seen its virus case levels drop recently, is only now beginning to reopen some businesses, including theme parks, bars and sports stadiums.

A poll released this week by the Public Policy Institute of California showed 56% of likely voters would vote against the recall, with support for Newsom split along party lines.

Steyer, the founder of San Francisco-based Farallon Capital Management LLC, has used his estimated $3 billion fortune to support Democratic candidates and an agenda focused on addressing climate change. He said he’s a big supporter of President Joe Biden’s infrastructure push.

“This is a plan that is absolutely a necessity,” Steyer said. “It’s going to create millions of jobs across this country. It addresses the environmental injustice in our society. And it appeals to people in every single state.”

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