Tom Steyer, a gubernatorial candidate in California, hosted an event to support his campaign at Guildhouse in San José on Thursday.

The event was part of a bus tour titled “A California You Can Afford,” promoting Steyer’s Democratic candidacy. 

It focused on lowering the cost of living through policies on housing, education and energy, according to his campaign website. 

“This campaign is about two things essentially. California is too expensive for Californians, people can’t afford to live here,” Steyer said. “The second thing this campaign is about is representing people who are not represented in this state, and not well represented against the current special interests.”

Steyer said he opposes special interest groups that dictate what happens in the government.

”We don’t need people who will answer to corporate special interests, we need people who will stand up to corporate special interests,” Steyer said.

A special interest group refers to a group representing a specific set of interests such as certain workers, industries or causes that seek to influence economic policy in its favor, according to the National Bureau of Economic Research.

San José Mayor Matt Mahan has drawn support from Silicon Valley donors, including independent groups that have spent over $1 million promoting his campaign through ads backed by tech leaders, according to a Feb 7, Los Angeles Times article.

Tom Steyer is self-funded, focuses on reducing corporate influence and taking on special interests, the same source reads. 

Edith Licea, a preschool teacher in San José, said she loves Steyer’s approach to political actions and corporations. 

“I know a lot of us are very disappointed in the Democratic Party, but it seems like Mr. Steyer really wants to be accountable,” Licea said. “I understand he’s a billionaire, but for him to call out these corporations, and then for these corporations to invest a lot for him not to win, says a lot about how true his intentions are.”

Steyer, who founded one of the world’s largest hedge funds, has an estimated net worth of $2.4 billion, according to an April 29 AP News article.

Farallon Capital Management was founded by Steyer in 1986, and is currently managing $44 billion dollars, according to the Farallon webpage.

Steyer ran as a presidential candidate in 2020 before dropping out of the race because he was unlikely to win, according to a Feb. 29, 2020 NPR article. 

Steyer is currently running against candidates Matt Mahan, Xavier Becerra, Chad Bianco and Katie Porter, to name a few, to succeed the current Governor Gavin Newsom.

A recent poll shows Republican Steve Hilton tied with Democrat Xavier Becerra with both at 18% in the California governor’s race, while Tom Steyer trails with 12%, according to a May 4 article from ABC10.

“Based on what he said, who endorsed him, and how he’s moving, I think he has what it takes as long as he stays true to his campaign promises,” Licea said.

Carlos Amaya, a data analyst, said progressive politicians endorsing Steyer gives him confidence, but he still wants Steyer to elaborate on how he’d go against corporations that he’s publicly denounced. 

“But I do like that there was a strong participation,” Amaya said. “I like that he was talking about being inclusive, especially when it came down to the matters of healthcare.”

Steyer supports a single-payer health care system in California, according to the official Tom Steyer website.

A single-payer healthcare system is one in which the government collects money and pays for all healthcare costs with the money collected, according to a Health Insurance webpage.

Steyer said healthcare is one of the main components making California so expensive.

“Our healthcare is too much about profits and not enough about healthcare,” Steyer said. “We know that this state is succeeding and we also know that most people can’t afford to live here.”

California home values have increased about 56% since the 1990s, rising from roughly $456,000 to $753,000, according to a Dec. 3, 2024 Public Policy Institute of California blog. 

“I believe that being able to own a home is part of the California dream,” Steyer said. “So many young people believe that they’ll never be able to buy a house.” 

Steyer’s goal as governor is to build 1 million homes in four years to address the housing crisis, according to a Tom Steyer for Governor webpage.

His campaign website supports building new homes through reducing energy costs by reforming utility companies and closing corporate tax loopholes to increase funding for public services. 

The campaign also highlights the plans for expanding education from pre-K through college and reducing houselessness by increasing housing supply and construction in California. 

Steyer said he supports the proposed “billionaire tax” in California.

The California 2026 “billionaire tax” is a proposed one-time 5% tax on the worldwide net worth of California’s wealthiest residents, according to an Institute on Taxation and Economic Policy article.

“Over time, we are going to have a tax system that is much fairer, where big corporations and billionaires are paying their fair share so that as a society we have shared prosperity,” Steyer said.

This was Amaya’s first time attending a campaign event. He said he hopes Steyer honors the promises he made at the town hall.

“I just hope that he sticks to what he’s saying and that there’s no asterisk to his speech,” Amaya said.