Tom Steyer Wants to Save California From Billionaires. But Also Doesn’t Want Them to Leave
Tom Steyer, a billionaire and gubernatorial candidate in California, aims to tax the ultra-wealthy while keeping Silicon Valley content. He faces challenges in balancing the interests of billionaires with the need for regulation, particularly in AI and climate policy. Steyer's campaign reflects a complex stance on wealth and corporate influence in politics.
- ▪Tom Steyer is a billionaire running for governor of California, advocating for a tax on the ultra-wealthy.
- ▪He has been labeled a 'class traitor' for his support of the Billionaire Tax Act, which has prompted some billionaires to consider leaving the state.
- ▪Steyer's campaign focuses on affordability, climate policy, and navigating the challenges of regulating AI without alienating tech leaders.
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Katie DrummondVideoMay 19, 2026 6:30 AMTom Steyer Wants to Save California From Billionaires. But Also Doesn’t Want Them to LeaveThe hedge fund billionaire turned gubernatorial candidate wants to tax California’s ultrawealthy, regulate AI, and keep Silicon Valley happy at the same time. Good luck with that.Photo-Illustration: WIRED Staff; Getty ImagesCommentLoaderSave StorySave this storyCommentLoaderSave StorySave this storyFor those concerned about the influence of Big Tech and billionaires on California’s future, Tom Steyer looks like an obvious choice.
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