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Billionaire hedge fund founder Tom Steyer launches California gubernatorial bid, vowing to challenge corporate influence and build one million homes to combat the state’s affordability crises.

Steyer’s hedge fund past includes controversial investments in coal mining and migrant detention facilities that could draw attacks from rivals.

He previously spent nearly $342 million on his 2020 presidential campaign, which ended after the South Carolina primary.

Billionaire hedge fund founder Tom Steyer announced Wednesday that he is running for governor of California, arguing that he is not beholden to special interests and can take on corporations that are making life unaffordable in th

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