California hedge fund billionaire Tom Steyer announced Monday he would not seek elected office and instead plans to pump millions of dollars into the midterm elections.
There had been speculation that Steyer would potentially run for Senate or governor of California during the 2018 midterms.
“I am not going to run for office in 2018,” he said. “That’s not where I can make the biggest difference.”
Steyer has already initiated an ad campaign to push for the impeachment of President Donald Trump, which led Trump to criticize Steyer on Twitter. Steyer announced he would be redoubling his efforts on his Need to Impeach initiative.
“He is a clear and present danger to the institution of our democracy,” he said. “Letting these offenses go without consequences would set a dangerous precedent.”
Steyer announced that he would funnel $30 million into his NextGen America voter initiative to mobilize young people in swing states.
Florida, Virginia, Wisconsin, Michigan, Nevada, California, Pennsylvania, Iowa, New Hampshire and Arizona were mentioned in a statement citing eight Senate races, nine gubernatorial races and more than 30 congressional districts being targeted.
Though doubling down on the impeachment initiative, Steyer said candidates’ stances on the matter would not determine his support.
“We are not going to have a litmus test about impeachment,” he said.
Steyer also announced that his group would be sending copies of the Michael Wolff book “Fire and Fury” to members of Congress.