Democratic governor candidate Tom Steyer, a billionaire and entrepreneur, holds up his notes as he speaks during a campaign stop in Sacramento on Thursday, March 5, 2026.
HANNAH RUHOFF
hruhoff@sacbee.com
Tom Steyer, the billionaire candidate for California governor, stopped in East Sacramento to talk with voters and demonstrate that he’s molded himself into a leader willing to challenge the imbalance between rich and poor in our state.
His Thursday night event at The Cannery brought tough questions from an audience of roughly 200 people. The 68-year-old entrepreneur and environmentalist addressed topics from Gaza to artificial intelligence. It was a night that revealed Steyer’s vision and his vulnerabilities. I watched and listened, and here are my five takeaways:
On Gaza: Cautious
Steyer was pressed about the Israel-Palestine conflict, a topic that has divided public opinion. He voiced support for a popular two-state solution and called what he’s seen in Gaza “incredibly distressing, sad and wrong,” but stopped short of calling it genocide. In other words, he gave the same answer most establishment politicians have given. Steyer’s willingness to engage was admirable, but he’ll need a deeper understanding of how Democrats feel about this issue.
Clean energy: Big ideas, few details
Steyer sounded most confident discussing clean energy and breaking up utility monopolies. He painted an optimistic vision for solar expansion and battery storage, arguing that clean energy is now cheaper and more accessible than ever. But ambition alone won’t convince skeptical voters; Steyer’s plan needs more concrete details, especially for Californians who can’t easily afford solar panels or batteries. He’ll have to clarify how these ideas can become reality for everyone, not just those rich enough to afford them.
His privilege, voter trust
The elephant in the room was Steyer’s status as a white male billionaire — a point raised directly by audience member Gina Coates. She asked how she could trust his promises given his background. Steyer acknowledged the skepticism voters of color feel toward wealthy white politicians. He emphasized his intention to give away most of his fortune. His empathy was clear, but as Coates’ reaction made evident, words alone won’t erase mistrust of Steyer for his wealth and privilege.. Still, Steyer’s openness to criticism and readiness to address privilege head-on set him apart from candidates who dodge the topic.
Housing and homelessness: Willingness to innovate
Steyer didn’t offer many new ideas, but he did highlight the destructive impact of life on the streets and the link between homelessness and mental health. His strongest attribute was his openness to restructuring existing systems. California needs practical solutions.
Shared Prosperity: A core message
Throughout the night, Steyer returned to the theme of “shared prosperity.” He positioned himself as an advocate for working people, calling for fair wages and policies that close corporate tax loopholes. Steyer is trying to reframe his wealth as a tool for systemic change. His challenge now is proving that this message is more than campaign rhetoric. The “progressive” label may be a moving target, but Steyer’s evolution from hedge-fund billionaire to activist candidate shows he’s attuned to California’s shifting priorities—and the impatience with the status quo. He wants Californians to be prosperous. Whether voters buy in will depend on whether he can fill in the gaps of his vision.