"Billionaires in both political parties are throwing their hats in the ring to be the next governor in three different states across the US, and some of them are spending their own fortunes to do so. Democratic Gov. JB Pritzker of Illinois is the sole billionaire serving as governor of a US state right now. But it's not that uncommon for billionaires to run for, and even win, their state's top office."
"Billionaire Tom Steyer is a leading Democratic contender for governor of California in 2026. Steyer, a philanthropist and climate activist who also ran for president in 2020, made his fortune running the hedge fund Farallon Capital. He is estimated to be worth $2 billion, according to Forbes. His gubernatorial campaign is almost entirely self-funded. He has poured at least $38 million of his own wealth into his campaign so far, according to recent disclosures."
Several billionaires are running for governor in Ohio, California, and Georgia, with candidates from both parties participating. Some candidates are using personal fortunes to fund campaigns, often self-funding large portions of their bids. Democratic Gov. JB Pritzker of Illinois currently serves as the only billionaire governor. Billionaires have previously served as governors, including Doug Burgum of North Dakota and Jim Justice of West Virginia. Wealthy politicians and campaign costs make self-funding common, and party leaders sometimes recruit wealthy candidates for financial reasons. In California, Tom Steyer, estimated at $2 billion, has spent at least $38 million of his own money and polls behind several rivals.
Read at Business Insider
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