Billionaire activist Tom Steyer said Tuesday that he will run for president in 2020, entering the crowded Democratic field late in the race with a pledge to focus on climate change and reforming the political system.
In a video, the Democratic megadonor, who has funneled millions of dollars into pushing for the impeachment of President Donald Trump, reversed his decision announced earlier this year not to run.
Steyer’s entrance into the race is likely to shake up the primary field, in no small part because of the vast sums of money at his disposal. The former hedge fund manager will spend at least $100 million on his presidential campaign, spokesman Alberto Lammers said.
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