California\u2019s Democratic Socialists have made their pick for governor \u2014 but they\u2019re not happy about it.<\/p>\n
The nation\u2019s largest socialist organization grudgingly threw its weight behind billionaire Tom Steyer, who made a fortune in private equity<\/a> before blowing nine figures on two political bids \u2014 first for the 2020 presidential nod and now for Golden State governor.<\/p>\n California governor candidate Tom Steyer at a town hall meeting on rural healthcare issues on February 27, 2020 when he was running for president. Getty Images<\/p>\n \u201cEven if he glibly considers himself a \u2018class traitor,\u2019<\/a> his wealth was earned through the exploitation of the working class,\u201d the California Democratic Socialists wrote in its voter guide<\/a>.<\/p>\n \u201cMuch of his wealth was also invested in private prisons and coal mining, accumulated by the same things he now decries,\u201d the organization wrote.<\/p>\n \u201cHowever, the most progressive of the current viable candidates for governor is Tom Steyer. Time will tell whether he\u2019s truly a class traitor,\u201d the group added. <\/p>\n People attend an election night party held by the Democratic Socialists of America \u2013 LA chapter at The Greyhound on Tuesday, Nov. 4, 2025 in Los Angeles, CA. Los Angeles Times via Getty Images<\/p>\n The DSA has about 100,000 members nationwide, according to its website.<\/p>\n Steyer, who ran the private equity shop Farallon Capital, is worth over $2 billion and has spent well over $100 million on his bid for California governor. <\/p>\n