California gubernatorial candidate Tom Steyer speaks during an election night event Tuesday, June 2, 2026, in San Francisco.

Billionaire venture capitalist Tom Steyer said he was still optimistic Tuesday night, even as he was sitting in third place in the governor's race and trailing by hundreds of thousands of votes.

"I've always been an optimist, and tonight I remain an optimist," Steyer said to the cheers of his supporters Tuesday night in San Francisco. "None of this is far off. These dreams are not too big. The better California we've been fighting for is possible, and it's coming."

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As of 10 p.m. Tuesday, vote counts showed Republican Steve Hilton leading with 26.8% of the vote and Xavier Becerra in second with 25.8%, while Steyer trailed with 19.7%, according to the California Secretary of State's website. Only the top two finishers will advance to the general........

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