Our Revolution’s Unexpected Endorsement of Tom Steyer in California Gubernatorial Race
When Our Revolution, a progressive organization aligned with Bernie Sanders, endorsed billionaire Tom Steyer in California’s contentious gubernatorial race, it highlighted a striking contradiction. The organization, founded on anti-billionaire principles, found itself supporting a billionaire candidate, a fact not lost on its leader, Joseph Guivarghese.
In a recent interview, Guivarghese admitted that if asked a year ago whether he would endorse a billionaire, he would have found that prospect unlikely. However, his perspective shifted as he recognized Steyer’s progressive policy platform and active engagement with liberal communities across California.
“The most dynamic, ideologically aligned candidates just happen to be billionaires,” Guivarghese noted. This unexpected coalition has enabled Steyer, a hedge fund founder previously criticized for his investments in controversial areas like private prisons, to emerge as a leading contender in the California gubernatorial race, which has seen no clear favorite a month after the all-party primary.
Despite initial doubts from liberal groups in the nation’s largest Democratic stronghold, Steyer has succeeded in keeping the focus on progressive priorities. He advocates for initiatives such as single-payer healthcare, a tax on oil company profits, and an anticipated billionaire tax that may appear on this fall’s ballot.
Last month, former Congressman Eric Swalwell dropped out of the governor’s race, and progressive candidates like former Congresswoman Katie Porter, supported by Senator Elizabeth Warren, have struggled to gain momentum. This scenario has effectively cleared a path for Steyer, who has already invested over $120 million of his own wealth into his campaign.
Eileen Kao, executive director of Courage California, expressed surprise at her organization’s endorsement of Steyer in April. She emphasized the importance of holding corporations and wealthy individuals accountable, suggesting that public skepticism towards Steyer can foster a necessary dialogue about his past investments and growth as a candidate.
Steyer has acknowledged past mistakes, particularly regarding his hedge fund’s former investments in private prisons. He exited these holdings in 2012 and has publicly apologized for the oversight, attempting to rectify his reputation through proactive outreach and advocacy.
Democratic State Representative Alex Lee, who was an early supporter of Steyer, shared his initial skepticism about endorsing a billionaire. Nonetheless, he noted that as the campaign has progressed, Steyer has increasingly aligned himself with the progressive faction of the Democratic Party, leading him to secure key endorsements and support.
The path forward for Steyer remains competitive, as he vies for support in a field that includes several other notable candidates. The upcoming primary election will see all candidates from various parties compete on June 2, with the top two vote-getters advancing to the general election in November, intensifying the need for Democrats to consolidate behind a single candidate to challenge the Republicans effectively.
