Here are the billionaires running for governor across the US this year
Business Insider
February 22, 2026
AI-Generated Deep Dive Summary
Billionaires are making waves in U.S. gubernatorial races this year, with candidates from both political parties leveraging their wealth to compete for top state offices in Ohio, Georgia, and California. This trend highlights the growing influence of affluent individuals in politics, as they use their personal fortunes to fund campaigns and shape election outcomes. With self-funding becoming a key strategy, these candidates are rewriting the playbook for political fundraising.
In California, Tom Steyer, a Democratic philanthropist and former hedge fund manager worth an estimated $2 billion, is leading the charge. Known for his climate activism and 2020 presidential bid, Steyer has poured over $38 million of his own money into his gubernatorial campaign. Despite his significant investment, recent polling places him fifth in a competitive field, trailing GOP candidates like Steve Hilton and Sheriff Chad Bianco.
Meanwhile, Ohio’s Vivek Ramaswamy is the frontrunner for the GOP nomination. The biotech mogul with a $2.2 billion net worth gained attention during the 2024 presidential primary but decided to focus on the gubernatorial race instead. Unlike his earlier self-funded campaign, this time he has raised nearly $20 million without contributing personal funds, positioning him as a strong contender against Democratic hopeful Amy Acton.
In Georgia, billionaire Rick Jackson, founder of Jackson Healthcare, is outraising even bigger names in the GOP primary. Pledging to spend $50 million, Jackson is shaking up a crowded field that includes Secretary of State Brad Raffensberger and Lieutenant Governor Burt Jones, who has Trump’s endorsement. This influx of cash underscores how wealthy candidates are reshaping political dynamics.
For business readers, this trend matters because it signals a new era where corporate leaders and entrepreneurs with deep pockets are driving political agendas. Their influence could shape policies on taxes, regulations, and economic growth, making
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Originally published on Business Insider on 2/22/2026