Billionaire Tom Steyer will not run for president in 2020

Evarado Alatorre
Enero 11, 2019

Billionaire Tom Steyer will not run for President in 2020, his spokeswoman tells CNN, ending months of speculation that the Democratic donor will escalate his efforts to defeat Trump by attempting to take him on at the ballot box.

Adviser Aleigha (ah-LEE'-ah) Cavalier confirmed the decision Wednesday afternoon, shortly before Steyer was due to speak at an event in Des Moines, Iowa. Given that Democrats have taken majority control of the House, the impeachment talk has reached an "inflection point" and Steyer is asking officials to act immediately.

Steyer, a 61-year-old hedge fund manager, said he will instead focus on his efforts to take on Trump from the outside, namely through Need to Impeach, a group he founded after Trump's win in 2016 that looked to garner public support around impeaching Trump. "Therefore, I will be dedicating 100 percent of my time, effort and resources working for Mr. Trump's impeachment and removal from office". Over the course of his campaign, Steyer has amassed a valuable political asset: a list of almost 7 million people who have signed on to his impeachment effort.

Standing at a podium in front of a "Need to impeach" sign, Steyer officially announced he is taking on what he believes is most important and the biggest challenge he could face at this time.

He may face another self-funded billionaire candidate in Michael Bloomberg, the former mayor of NY, who has more of a national profile.

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He announced on Wednesday that he commit another $40m of his fortune to the group and defined success as either the House beginning impeachment proceedings or Trump resigning from office.

"Mr. Trump has made division itself the centerpiece to his presidency. He creates crises to remain in power and he will not stop spreading lies to the American people".

"Most people come to Iowa around this time to announce a campaign for the presidency", he said.

Steyer told CNN last week that he would only run if he believed he offered something new to the field of candidates.

Steyer's decision not to enter the race also leaves the deep-pocketed donor available to support one of as many as two dozen Democrats who are weighing 2020 presidential bids.

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