Billionaire Tom Steyer to Enter 2020 Presidential Race Steyer never officially ruled it out and has announced his candidacy in a campaign video. Tom Steyer, via campaign video The noted environmentalist is one of the Democratic party's <br />most recognizable donors. In last year's Midterm elections, he donated over $100 million to help the party<br />take back Congress. Recently, he has also released a series of <br />self-funded ads calling on Democrats to <br />impeach President Trump. According to 'The New York Times,' the <br />hedge fund manager is planning to drop <br />over $100 million on his campaign. His entry into the race also comes as California Rep. Eric Swalwell became the first candidate <br />to drop out.