Billionaire Tom Steyer Launches 2020 Presidential Campaign

Tom Steyer joins swarm of Democrats running for president

Steyer, 62, is worth an estimated $1.6 billion, according to Forbes.

Hours after Steyer announced his White House bid early Tuesday morning, his presidential campaign told Fox News that they would launch TV commercials starting Wednesday in Iowa, New Hampshire, Nevada and SC, the first four states to vote in the presidential primary and caucus calendar. "After a false start, left-wing extremist Tom Steyer has finally formalized his self-promotion tour under the guise of a presidential campaign", RNC spokesman Steve Guest said in a statement.

Sens. Elizabeth Warren of MA and Bernie Sanders of Vermont, who are competing for the support of liberal voters in the Democratic presidential primary, decried the influence of billionaires in the 2020 race.

Mr Steyer has teased running for office before.

Steyer pledged to spend $100 million on his presidential campaign, but it's unclear whether he will qualify for the next round of presidential debates taking place later this month.

Steyer's entrance into the race could shake up the primary field.

Besides his vast wealth, his two organizations have a very large grassroots reach. Steyer instead announced he would not run and focus instead on building impeachment support. But his late entry underscores how wide open the Democratic primary field remains after the party's first debate June 27-28.

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An environmentalist and advocate for the movement to impeach Mr Trump, he has donated millions to liberal causes.

Steyer spent tens of millions of dollars on the advertisements, which at times have criticized congressional Democrats for failing to impeach Trump, and has grown his "Need to Impeach" email list to over eight million signatures.

On Tuesday, Steyer did not mention Trump's impeachment, although the president was briefly seen in the video, as was former campaign Chairman Paul Manafort, who was seen being led away in handcuffs. Trump was briefly seen in Steyer's campaign video.

Steyer, 62, painted himself as a political outsider and blasted corporate money in US politics, in a statement and an online video released on Tuesday.

When pressed by host Bill Hemmer over which 2020 Democratic candidate Steyer would hurt most, Brazile suggested he "doesn't hurt any of the top tier candidates".

FILE PHOTO - Tom Steyer, founder of NextGen Climate, speaks during the California Democratic Convention in San Francisco, California, U.S. June 1, 2019.

Paul Steinhauser is a politics reporter based in New Hampshire.

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