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09 January 2018, 02:19 | Terri Saunders
Tom Steyer declines political run, plans to put $30 million young voter turnout effort
Tom Steyer, who has spent tens of millions of dollars on political campaigns and grassroots voter outreach since 2016, said he would not run for political office this year, as some observers had expected.
Tom Steyer, the billionaire Democratic megadonor, says he is not running for office in 2018 but will spend $30 million on an effort to win control of the House.
The activist and environmentalist, who made his fortune as a hedge fund manager, said he had another main goal.
At 60, Steyer is worth an estimated $1.6 billion, according to Forbes.
"My fight is not just in California, my fight is in removing Donald Trump from office, and from power", Steyer said. In response the president referred to Steyer as "wacky" and "unhinged".
Steyer did not specify how much money he would be putting in the new campaign.
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Given Steyer's wealth and national following, the billionaire investor was considered the X-factor in the race for governor and Senate, though his behavior in recent weeks suggested he was unlikely to jump into either race. He said Republicans won't cross a president who controls their base regardless of what he says or does. "That's not where I can make the biggest difference", he said.
Steyer spent almost $100 million on organizing efforts during the 2016 campaign, where Republicans won the White House and maintained control of the House and Senate.
"I believe that the most important task for me, the task that I feel called to do.is organizing and mobilizing America's voters". The organization is looking to register more than 250,000 voters this year.
Steyer has since the election spent $20 million on a campaign to impeach Trump which has been criticized by Democratic leaders as premature and a "distraction".
"If Democrats' message for 2018 is a baseless impeachment threat that the majority of voters disagree with, they're going to lose", said RNC spokesman Michael Ahrens in a statement.
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