Tom Steyer’s $195 million political advertising spend breaks record as the most expensive campaign this year

Win or lose, billionaire Democrat Tom Steyer will leave a mark in the history books in his bid to become California’s next governor — he’s running the most expensive political advertising campaign in the country this year.

Steyer — a former hedge fund manager turned liberal activist — has spent or booked more than $195 million in ads for broadcast TV, cable and radio with the tally still growing, according to data compiled by advertising tracker AdImpact.

His torrent of ads have opened the one-time presidential candidate to criticism that he is trying to buy the governor’s chair, and his ad total represents more than 20 times the amount spent by his nearest rival, fellow Democrat Xavier Becerra, as the two duel for a spot in the November election.

Nationally, no one is close.

In Georgia, Republican health care executive Rick Jackson has spent about $83 million on advertising in his primary race for governor, which is headed for a June runoff, ranking him second. The third place spot is held by his Republican rival, Lt. Gov. Burt Jones, who has President Donald Trump’s endorsement and has spent nearly $31 million on ads, according to AdImpact.

Following Jones was Democratic U.S. Rep. Raja Krishnamoorthi of Illinois, who spent over $28 million on advertising in a failed bid for U.S. Senate.

Trying to ‘buy the governor’s office?’

Katie Porter, a former U.S. House member who is among seven established Democrats in the........

© Fortune