Overview
- NBC News projected that Xavier Becerra and Steve Hilton advanced to the November general election after Tuesday’s all‑party primary, and Tom Steyer conceded that he would not finish in the top two.
- State campaign filings show Steyer gave roughly $215 million of his own money to his campaign, and AdImpact estimates about $209 million was used on television and digital ads.
- Steyer’s ad buys dominated the media market, making up about two‑thirds of ad spending in the race, yet that saturation did not translate into enough votes to reach the runoff.
- Reporters and voters cited a backlash to Steyer’s billionaire status and a ‘class traitor’ narrative, plus fatigue from omnipresent advertising and strategic voting under California’s top‑two system, as key reasons for his loss.
- Regulatory scrutiny that began in mid‑May over undisclosed paid influencer posts tied to the campaign remains active, and his defeat raises questions about the limits and political costs of huge self‑funded bids going forward.