Billionaire Tom Steyer is facing criticism for his substantial financial contributions to Gen Z social media influencers, as well as making significant donations to a political action committee linked to Jane Fonda, one of his prominent supporters in Hollywood, according to recent campaign filings.
The iconic liberal actress has been actively supporting Steyer, joining him at a Los Angeles campaign event on May 7 and starring in an advertisement for his $130 million campaign, which has set new spending records in the California governor’s race.
“Progressives like me trust Tom,” Fonda stated in a campaign ad released on April 21.
Before Fonda was seen endorsing Steyer in advertisements, she received $310,000 from the billionaire who advocates for populist policies.
According to federal campaign records, Steyer contributed $260,000 to Fonda’s political action committee, the Jane Fonda Climate PAC, between March and May 2024.
In addition to this, Fonda’s PAC received another $50,000 from Steyer in 2022, along with $30,000 from Steyer’s wife, Kat Taylor, in 2023 and 2024.
“Jane Fonda Climate PAC endorsed Tom Steyer solely because he is ready and willing to stand up to the fossil fuel industry and fight for a livable future,” Fonda’s PAC said in an email. “Tom has a long record of climate advocacy, he supports making polluters pay and is unequivocal in his support for transitioning away from fossil fuels.”
The resurfaced financial link between Hollywood activist Fonda and Steyer come as the billionaire faces accusations of buying online influence.
Social media creators blasted Steyer for allegedly deceptive tactics after he paid influencers, including Isaiah Washington and Carlos Eduardo Espina, to promote his campaign without clearly disclosing the paid placements.
Washington netted $10,000 from Steyer before nuking his account, and Uruguayan American activist Espina was paid $100,000 to shill for Steyer, which he called “advising,” the New York Times reported.
“Creators deserve to be fairly compensated for their work — just like any other professional. Unlike other campaigns, we’re fully transparent: every payment we make is publicly disclosed, as required by California law,” Steyer’s campaign spokesperson Kevin Liao said in an email.
Steyer’s campaign is trailing Democratic frontrunner Xavier Becerra and Republican Steve Hilton, who are leading the field in recent polls.
It’s not the first time Steyer, who made more than $2 billion running hedge fund Farallon Capital, has been suspected of plying supporters with hefty checks.
During his failed campaign for the 2020 presidential nomination, a top Steyer aide reportedly peddled campaign contributions to Iowa politicians in exchange for endorsements — which weren’t illegal, but ruffled feathers in the key midwest primary state.
“It was presented more as, he has provided financial support to other downballot candidates who’ve endorsed him, and could do the same for you,” former Iowa state senator Tom Courtney told the Associated Press.
During that same campaign, President Joe Biden’s campaign accused Steyer of paying black lawmakers or their companies in exchange for endorsements, per the New York Times.
The billionaire governor hopeful also racked up endorsements from California pols who benefited from his campaign checks.
Former Controller Betty Yee, who endorsed Steyer after dropping her bid last month, received maximum contributions from Steyer and his wife totaling $27,700 during her 2014 and 2018 campaigns for state controller, per campaign filings.
Former California senator Toni Atkins, who likewise dropped her bid for governor, endorsed Steyer after receiving $9,200 from the billionaire in 2016 and 2022.
Taylor, Steyer’s wife, gave $7,000 to Silicon Valley Rep. Ro Khanna’s congressional campaign in May after he endorsed Steyer’s gubernatorial bid.
