{"id":47910,"date":"2026-04-25T12:56:45","date_gmt":"2026-04-25T19:56:45","guid":{"rendered":"https:\/\/occupysf.net\/?p=47910"},"modified":"2026-04-25T12:56:46","modified_gmt":"2026-04-25T19:56:46","slug":"what-if-tom-steyer-wasnt-a-billionaire-any-more","status":"publish","type":"post","link":"http:\/\/occupysf.net\/index.php\/2026\/04\/25\/what-if-tom-steyer-wasnt-a-billionaire-any-more\/","title":{"rendered":"What if Tom Steyer wasn\u2019t a billionaire any more?"},"content":{"rendered":"\n

If he gave away most of his fortune to good causes in the next few weeks, he could say he’s not just a rich guy running for governor.<\/a><\/p>\n\n\n\n

By Joel Schechter<\/a><\/p>\n\n\n\n

April 23, 2026 (48hills.org)<\/p>\n\n\n\n

If Tom Steyer gave away about $1.5 billion dollars in the next month, he would demonstrate that he doesn\u2019t want to be part of a government run by and for billionaires. He doesn\u2019t have to pay me anything for this advice, but divestment of his wealth might improve Steyer\u2019s chances of becoming California\u2019s next governor.<\/p>\n\n\n\n

I\u2019m not endorsing him here, or saying you should vote for him, just contemplating the difficulty of a billionaire seeking office at a time when many voters oppose the increasing influence that wealth exerts on local, state and national government.<\/p>\n\n\n\n

With his personal wealth estimated to be around $2 billion, Steyer is likely to encounter some opposition to his gubernatorial campaign because he\u2019s a billionaire. The disastrous government run by billionaires in Washington, D.C. Is not giving a good name to plutocracy.<\/p>\n\n\n\n

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If he gave all his money away, he wouldn\u2019t be the rich guy running for governor. Wikimedia images photo<\/figcaption><\/figure>\n\n\n\n

Steyer was just endorsed by Our Revolution, Bernie Sanders\u2019 group known until recently for its outspoken criticism of government by and for wealthy men. A statement in support of Steyer by O.R. notes:<\/p>\n\n\n\n

\u201cTom Steyer isn\u2019t afraid to use his platform to challenge the very system that made him wealthy. His platform includes a set of core priorities that resonate deeply with working people across the state, including:<\/p>\n\n\n\n

Single-payer healthcare and universal coverage; taxing the wealthy and closing corporate loopholes; lowering costs for working families, including housing and energy; bold climate action and a just transition to clean energy; holding corporate power accountable and strengthening democracy\u201d<\/p>\n\n\n\n

These goals are commendable, whoever proposes to implement them. But can a very wealthy man persuade voters he favors a progressive agenda?<\/p>\n\n\n\n

Critics of Steyer question his integrity, as he invests over $100 million of his own money to support his campaign for office. While he\u2019s not buying the governorship outright, he\u2019s spending a lot more of his own money on it than other candidates can afford to give themselves.<\/p>\n\n\n\n

Sponsored link<\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

Steyer\u2019s critics also question the sources of his income. He made some of his fortune by investing in private prisons and coal mining, businesses that might lead one to question his current commitment to clean energy and prison reform, although a man is certainly entitled to change his mind on these issues, particularly if he becomes more progressive.<\/p>\n\n\n\n

Steyer also has said that billionaires like him need to pay more in taxes, and he has endorsed the wealth tax bill, which our current Governor, Gavin Newsom, is trying to kill. He\u2019s not fleeing the state to avoid taxes, as some other wealthy men have; he\u2019s ready to pay more.<\/p>\n\n\n\n

Which brings me back to my original proposal.<\/strong><\/p>\n\n\n\n

Besides paying a wealth tax in the future, there\u2019s one more highly dramatic expenditure Steyer could make right now to show the public that he\u2019s not going to be another self-serving billionaire once elected.  If Steyer gave away enough of his money\u2014I estimate it would be $1.5 billion\u2014in the next few weeks, he would no longer be a billionaire. The candidate for governor could honestly say that he opposes government by and for billionaires.  <\/p>\n\n\n\n

He might still live comfortably, particularly if he begins to receive a California governor\u2019s salary (about $234,00 per year). But if I were his campaign manager (and you can see here why I\u2019m not), I would urge Steyer to divest himself of excess wealth before a wealth tax bill is implemented. He could literally put his money where his agenda is.<\/p>\n\n\n\n

In the coming weeks he could give $1.5 to $2 billion to non-profit environmental groups, advocates of prison reform and abolitionism, defense funds for immigrants, and grants to foster affordable housing and to sustain independent journalism. <\/p>\n\n\n\n

The divestment of wealth wouldn\u2019t guarantee Tom Steyer\u2019s election, but it would permit him to air some interesting commercials. I can see him facing the camera and announcing: \u201cI\u2019m Tom Steyer, former billionaire. California needs a governor who knows how to spend money on your needs instead of his own. Brother, I can spare a dime; I can spare $1.5 billion to help you out, in fact, I just did.<\/p>\n\n\n\n

\u201cLet\u2019s tax the wealthy, and make the state affordable to everyone else.\u201d<\/p>\n\n\n\n

Joel Schechter has written several books on satire.<\/em><\/p>\n\n\n\n

48 Hills welcomes comments in the form of letters to the editor, which you can submit\u00a0here<\/a>. We also invite you to join the conversation on our\u00a0Facebook<\/a>,\u00a0Twitter<\/a>, and\u00a0Instagram<\/a>.\u00a0<\/a><\/p>\n\n\n\n

Joel Schechter<\/a><\/p>\n\n\n\n

Joel Schechter is the author of several books about satire, including ‘Durov\u2019s Pig’, ‘Satiric Impersonations’, and ‘The Congress of Clowns’.<\/p>\n","protected":false},"excerpt":{"rendered":"

If he gave away most of his fortune to good causes in the next few weeks, he could say he’s not just a rich guy running for governor. By Joel Schechter April 23, 2026 (48hills.org) If Tom Steyer gave away about $1.5 billion dollars in the next month, he would… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47910"}],"collection":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=47910"}],"version-history":[{"count":1,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47910\/revisions"}],"predecessor-version":[{"id":47911,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47910\/revisions\/47911"}],"wp:attachment":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=47910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=47910"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=47910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}