LOS ANGELES (AP) 鈥� Win or lose, billionaire will leave a mark in the history books in his bid to become California’s next governor 鈥� he鈥檚 running the most expensive political advertising campaign in the country this year.
Steyer 鈥� 鈥� has spent or booked more than $195 million in ads for broadcast TV, cable and radio with the tally still growing, according to data compiled by advertising tracker AdImpact.
His torrent of ads has opened the to criticism that he is trying to buy the governor’s chair, and his ad total represents more than 20 times the amount spent by his nearest rival, , as the two duel for a spot in the November election.
Nationally, his spending is unparalleled 鈥� no one is even close.
In Georgia, Republican health care executive Rick Jackson has spent about $83 million on advertising in his primary race for governor, which is headed for a June runoff, ranking him second. The third place spot is held by his Republican rival, Lt. Gov. Burt Jones, who has endorsement and has spent nearly $31 million on ads, according to AdImpact.
Following Jones was Democratic of Illinois, who spent over $28 million on advertising in a failed bid for U.S. Senate.
Trying to 鈥榖uy the governor鈥檚 office?鈥�
, a former U.S. House member who is among seven established Democrats in the California race, has repeatedly criticized Steyer for dipping into his personal fortune to keep ads in front of voters with scant competition from rivals.
鈥淗e鈥檚 not earning support 鈥� he鈥檚 buying this seat,鈥� her campaign wrote in an email to supporters Wednesday.
In raw numbers, Steyer’s ad blitz has eclipsed the 2010 record set by Republican Meg Whitman, who spent $178.5 million in total on a losing bid for governor, much of it her own money. At the time, it was the costliest campaign for statewide office in the nation鈥檚 history. When adjusted for inflation, however, Whitman still holds the state record, but that represented spending for the full election, not just the primary.
A crowded field with no clear leader
Steyer’s record-level output has lifted him into contention in the crowded race, but he’s not breaking away from the field. He’s among a leading group of several candidates 鈥� including Becerra and 鈥� as the campaign heads toward a June 2 primary. Mail voting started earlier this month.
Still, Steyer’s cash advantage is giving him a publicity edge as the contest enters its crucial final days. He’s maintained a steady flow of advertising and online posts questioning Becerra’s credentials and record, with Becerra, a former state attorney general and Biden administration health secretary, lacking the funds to reply in kind.
One Becerra ad sought to connect with voters who might be getting bleary-eyed from the cascade of Steyer advertising. It used tranquil scenes of Joshua trees, waves curling on a beach and soaring redwoods, with a gentle prod: 鈥淵ou can stop the endless Tom Steyer ads. Vote Xavier Becerra.鈥�
Steyer鈥檚 financial edge has allowed him to stretch the boundaries of his campaign far beyond traditional TV and radio ads, with steady posts on online platforms like YouTube and Instagram. The that his campaign paid a progressive Texas influencer $100,000 to help Steyer win the election. The Sacramento Bee , had hired an influencer.
In a statement, Steyer spokesperson Kevin Liao did not directly address the campaign’s spending but pointed to millions of dollars pumped into ads by independent groups backed by Pacific Gas and Electric Co., real estate agents and others seeking to defeat the billionaire, who has promised to 鈥渂reak up the electric monopolies in California.鈥�
Speaking to reporters Wednesday in Berkeley, Steyer defended his spending in the race, saying he was fighting against powerful corporate interests that are driving up the price of living in the state.
鈥淭he corporations and billionaires have spent a record amount against me,鈥� Steyer said. 鈥淚’m only working for the people of California.鈥�
Many voters have been slow to vote in a race . More than 50 names will be on the ballot. California uses a 鈥渢op two鈥� primary system that puts all candidates on one ballot, with only the top two vote-getters advancing to November, regardless of party.
鈥淚n a race this close, it all matters,鈥� said Democratic consultant Andrew Acosta.
Money doesn’t always make the difference
History shows that money doesn鈥檛 always translate into votes.
Billionaire developer Rick Caruso spent over $100 million in 2022 in his bid to become Los Angeles mayor, much of it his own money, but he was handily defeated by Mayor Karen Bass, who spent a fraction of Caruso鈥檚 total. Billionaire spent more than $1 billion of his own money on his 2020 presidential bid before dropping out. was unable to lift him into contention in the 2020 presidential contest, early in the year after a poor finish in the South Carolina primary.
Democratic San Jose Mayor Matt Mahan’s campaign for governor was supported by independent committees bankrolled by millions of dollars from tech leaders and venture capitalists, yet he failed to gain traction in the race.
Steyer has never held elected office.
, Steyer was asked what he would say to people who think he鈥檚 trying to buy the presidency.
鈥淚 don鈥檛 think that鈥檚 possible,鈥� Steyer said at the time, before adding, 鈥淚鈥檓 never going to apologize for succeeding in business. That鈥檚 America, right?鈥�
The contest is unfolding as California struggles with a , , and housing costs that are out of reach for many working-class families. Voters, meanwhile, are saddled with growing everyday bills for groceries, utilities and gas.
The AdImpact data does not include ads on some popular streaming services, like Hulu and YouTube, or mail advertising.
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