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News in English (USA) / 05.06.2026 / 02:00

California Primaries Highlight Challenges for Billionaires and Tech Industry

Recent primary elections in California have revealed a significant shift in voter sentiment against wealthy self-funders and tech-backed candidates. Despite the massive financial investments by billionaires like Tom Steyer, who spent over $200 million in his bid for governor, the results showcased a stark reality check as many of these candidates suffered losses. This trend raises questions about the effectiveness of money in politics, especially as the tech industry pours unprecedented amounts into campaigns. Political experts suggest that the recent outcomes may indicate broader implications for future elections, with voters increasingly prioritizing credibility and connection over financial clout.
Politico, Bloomberg.com, MS NOW, The Guardian, The New York Times, Sacramento Bee, The San Francisco Standard, San Francisco Chronicle, CNN, Axios