Businessman Tom Steyer is entering the already crowded race for California governor in 2026.

Steyer announced his candidacy on Wednesday with a video posted to his YouTube channel .

"I'm Tom Steyer. I wanted to build a business here. Now, it's worth billions of dollars. And I walked away from it because I wanted to give back to California," Steyer said in the video.

The 68-year-old Democratic megadonor is no stranger to politics , despite never having held office.

Most recently , Steyer was one of the largest funders of the ad campaign in support of California's Proposition 50.

Steyer also sought the Democratic nomination for president in the 2020 election . He qualified for several debates, but dropped out after the South Carolina primaries.

Like his presidential run, Steyer

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