- by Michael Colbruno
- Tuesday, April 28, 2026 (ebar.com)
Tom Steyer is one of the leading Democratic candidates for California governor. Photo: From Facebook
I’ve been struck by the renewed vitriol aimed at billionaire candidates in the 2026 race for California governor, particularly Tom Steyer. Some of the loudest criticism has come from the progressive wing of the party, yet even U.S. Senator Bernie Sanders (I-Vermont) – long a leading voice against wealth inequality – has taken a more pragmatic view, endorsing Steyer in recognition of his commitment to public policy and climate action. That shift should give pause to those who would reduce the conversation to a simple rejection of wealth, rather than a more thoughtful evaluation of how it is used.
Steyer’s record deserves that more nuanced look. Unlike many wealthy individuals who remain on the sidelines, he has devoted significant personal resources to advancing environmental causes, funding efforts to combat climate change, supporting clean energy, and holding polluters accountable. He has helped build political infrastructure around these issues, often filling gaps where public funding or political will has lagged. At a time when California faces existential climate challenges – from wildfires to sea level rise – this kind of sustained, mission-driven investment is not only relevant, it is essential.
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The real question is not whether someone is wealthy, but what they choose to do with that wealth. There is a stark contrast between individuals like Steyer and people like President Donald Trump, who has repeatedly been accused of using public office to enrich himself, raising serious constitutional concerns, including potential violations of the Emoluments Clause. Wealth in and of itself is not disqualifying – history shows that voters are capable of evaluating leaders on their merits. From Democrats like former New York City mayor Michael Bloomberg and Illinois Governor JB Pritzker to Republicans like former Los Angeles mayor Richard Riordan and former California governor Arnold Schwarzenegger, as well as newer leaders like San Francisco Mayor Daniel Lurie, voters across the political spectrum have elected wealthy individuals who have gone on to serve effectively. The common thread is not their net worth, but their willingness to use their resources, experience, and leadership to advance the public good.
Wealth has never been a reliable measure of leadership. George Washington was among the wealthiest Americans of his time, yet he helped found a democratic system built to outlast him. Former President Franklin D. Roosevelt, born into privilege, led the nation through the Great Depression with the New Deal – creating Social Security, establishing the National Labor Relations Board, and reshaping the relationship between government and working people. Former President John F. Kennedy brought generational energy to the presidency and guided the country through moments of profound tension and change.
On the other side of the ledger, some of the richest yet least effective presidents in American history – Andrew Johnson, James Buchanan, Warren G. Harding, and Millard Fillmore – demonstrate that poor leadership has little to do with personal wealth. The lesson is clear: character, judgment, and results matter far more than financial status.
If Democrats want to win in 2026, the focus should remain on results – on climate action, economic fairness, and governance – not on reflexive attacks rooted in personal wealth. Voters are sophisticated enough to distinguish between those who use their resources to build something meaningful and those who use power for personal gain.
Michael Colbruno, a gay man, was a 2026 delegate to the California Democratic Convention where he supported Betty Yee for governor. He was an aide to former San Francisco mayor Willie L. Brown Jr. and former assemblymember Carole Migden (D-San Francisco). He is a founding partner of the Bay Area government affairs firm the Milo Group of California.
