Election 2020: Democrat Billionaire Tom Steyer Plans To Announce Presidential Bid?

Billionaire and liberal activist Tom Steyer is reportedly planning to run for President and join the Democratic primary. Steyer has vehemently opposed President Trump and has appeared in self-funded television commercials and YouTube ads calling for Trump to be impeached.

Steyer, 62, funds two progressive organizations: Need To Impeach and NextGen Climate. He has told staffers in these organizations that he is planning a presidential run, according to CNN.

He has frequently financially supported Democratic party leaders, such as President Barack Obama and Democratic candidate John Kerry in 2004. Steyer's Need To Impeach has become one of the largest progressive-leaning organizations in the country.

Steyer has previously supported other Democratic candidates in the 2020 election cycle. He has advocated for Sen. Elizabeth Warren on the economy and Washington Gov. Jay Inslee on climate change. Steyer is reportedly disappointed with Inslee's poor performance in the polls and believes that he could advocate a progressive economic agenda with a wider appeal than Sen. Warren.

He also has a passion for clean energy and environmentalism. Steyer has donated money to major universities such as Stanford and Yale for energy research.

Steyer made his fortune as the founder of Farallon Capital in 1986, an investment firm that manages money on the behalf of wealthy individuals and foundations. In 2012, he sold his stake in the company to focus on supporting political causes.

Steyer is worth an estimated $1.6 billion as of 2019 according to Forbes. He pledges to give away half of his money to charity during his lifetime.

Steyer, who considered running for California governor in 2018, is considered a longshot in a crowded field of over 20 Democratic presidential candidates.