Billionaire Tom Steyer Reportedly Planning Presidential Run

Source: https://www.zerohedge.com/news/2019-07-08/billionaire-tom-steyer-reportedly-planning-presidential-run
Published: Jul 8, 2019
Author: Tyler Durden
Post Date: 2019-07-08 08:26:47 by Horse
Views: 1518

Billionaire investor Tom Steyer has failed in his quest to inspire House Democrats to impeach President Trump (even as his 'impeach Trump' petition has garnered a few million signatures). But, as the old saying goes, if you want something done right, you need to do it yourself.

Which is perhaps why Steyer has told staffers of two progressive groups that he finances that he will jump into the race on Tuesday, despite the fact that some two dozen candidates are already vying for the Democratic nomination, and the first round of debates has already passed, the Atlantic reports.

But the fact that the self-funding billionaire is joining the race is surely a boon for Democratic political consultants, who are already enjoying one of the most lucrative campaign seasons in American history.

Aside from impeaching Trump, the 62-year-old former Democratic donor is also "passionate" about combating climate change.

According to the Atlantic, Steyer would face some unique challenges, like building his name recognition (few voters outside the financial and political spheres know who he is). But he has already committed $40 million to his campaign to impeach Trump, which is just a taste of what he could spend during his own campaign.

There is reason to disbelieve these reports, however. Earlier this year, Steyer promised that he wouldn't seek the nomination. However, there's reason to believe that Steyer's decision to enter the race might be motivated by his personal animus against President Trump, who has mocked him as "wacky" Tom Steyer and insinuated that Steyer "doesn't have the guts or the money" to run for president.

If the turnout during Steyer's impeach Trump tour is any indication of the support for a Steyer candidacy, there's a long road ahead.


Poster Comment:

Believes in Global Warming. Wait until he sees how harsh this winter is. We are headed to 40 years of Global Cooling.

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#1: NeoconsNailed    To: Horse (#0)

Great -- he'll spend half a bil on his campaign and end up about as happy as the results as Soros was.

NeoconsNailed posted on 2019-07-08 16:01:47   Reply   Private Reply


#2: Lod    To: NeoconsNailed, Horse, 4 (#1)

Do we know if Trump spent any of his money to get elected? Other than all the travel and related expenses? Thanks.

Lod posted on 2019-07-08 16:37:09   Reply   Private Reply


#3: NeoconsNailed    To: Lod (#2)

That's a good question. Are there limits on such? There were regular appeals to the public for contributions, which is clearlty valid.

NeoconsNailed posted on 2019-07-10 22:53:53   Reply   Private Reply


#4: Lod    To: NeoconsNailed (#3)

All I know is that he didn't solicit donations, but it could be done through his website if anyone wanted to do so.

Lod posted on 2019-07-10 23:39:26   Reply   Private Reply


#5: NeoconsNailed    To: Lod (#4)

wikid:

In October 2015 Trump had said: "I am self-funding my campaign and therefore I will not be controlled by the donors, special interests and lobbyists who have corrupted our politics and politicians for far too long. I have disavowed all super PACs, requested the return of all donations made to said PACs, and I am calling on all presidential candidates to do the same."[622] [623][624] Politifact reports that Trump's claims that he is "self-funding" his campaign are "half-true." By the end of 2015, Trump's campaign had raised $19.4 million, with almost $13 million (about 66 percent) coming in the form of a loan from Trump himself and the remainder (34 percent) coming from others' contributions.[625] The announcement came a day after a main super PAC backing Trump closed amid scrutiny about its relationship to the campaign itself.[126][127] Although Trump attended at least two Make America Great Again Super PAC fundraising events, including one at the home of his daughter Ivanka's in-laws,[126] he later said he never gave his endorsement to the super PAC or any of the other eight super PACs supporting his run. [626][627] In addition to a $100,000 donation from Ivanka Trump's mother-in- law, the Make America Great Again super PAC accepted $1 million in seed money from casino mogul and longtime Trump business partner Phil Ruffin who, according to FEC filings, gave the money just two weeks after the super PAC was established; the super PAC spent about $500,000 on polling, consulting, and legal expenses before shutting down in the wake of The Washington Post's coverage.[125][127]

NeoconsNailed posted on 2019-07-10 23:50:42   Reply   Private Reply