Tom Steyer, a billionaire investor turned progressive activist, seeks elected office after years of supporting political causes. Previously a hedge fund executive at Farallon Capital, Steyer shifted to climate advocacy and Democratic politics. He aims to succeed the term-limited Governor Gavin Newsom in a crowded 2026 California gubernatorial race.

The field is competitive, predominantly Democratic, featuring various ideological views. Among Democrats:

• Xavier Becerra: Former U.S. Health and Human Services Secretary, represents traditional party establishment.
• Katie Porter: Former Representative known for consumer protection, runs as a policy-driven, anti-corporate progressive.
• Antonio Villaraigosa: Former Los Angeles Mayor, viewed as more centrist.
• Tom Steyer: Positions as an outsider with a populist progressive message focusing on climate policy and economic inequality, using personal wealth to support his campaign.

Republicans like Riverside County Sheriff Chad Bianco and former Fox News host Steve Hilton, endorsed by President Donald Trump, face challenges in the heavily Democratic state. Yet, California’s top-two primary system allows for opportunities in a fragmented field.

Newsweek approached Steyer for comments about the election race ahead of the Tuesday primary.

Interviewer: You’ve been involved with California politics for years. Why do you think the establishment opposes you instead of considering you as a potential collaborator?

Steyer: I’m challenging corporate special interests, which fund the establishment. Naturally, they’re against me as I represent working people, not those interests. This is indeed intimidating for them.

Interviewer: Has your relationship with Californians changed due to this stance?

Steyer: I aim for honesty in all interactions. Unfortunately, many act in self-interest. This race is about choosing change or maintaining the status quo, supporting working people or corporations. Who should lead this state: the populace or wealthy corporations?

Steyer emphasizes that corporations don’t vote, maintaining focus on the electorate’s needs.

Interviewer: At a rally, you noted you’d approach the governorship with no future ambitions. If elected, how would you bolster the progressive movement in the state?

Steyer: I’ve connected with and received endorsements from numerous progressive leaders. Despite California’s perceived liberal image, power hasn’t been with progressives. I support those leading the charge and standing with me, representing Californians.

California faces affordability issues, with employees living in cars and sacrificing healthcare for rent. Steyer argues against the notion of widespread prosperity in the state.

Interviewer: Comparing to New York, California lacks a prominent progressive figure in state government like AOC in Congress. How do you view this?

Steyer: I’m surprised that contenders aren’t competing to improve conditions for working Californians. Leading Democrats accept funds from special-interest corporations, resisting change, contrary to my expectations.