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Billionaire Tom Steyer jump-starts presidential bid with $1.4 million national ad campaign

Anti-Trump Billionaire Tom Steyer assemblages a town hall meeting on December 4, 2018 in Charleston, South Carolina. Steyer, founder of NextGen America and Privation to Impeach, is testing the waters for a 2020 presidential run.

Sean Rayford | Getty Images

Billionaire presidential candidate Tom Steyer floated a $1.4 million ad campaign on Wednesday, highlighting his vision for ending corporate corruption and beating President Donald Trump in 2020.

The two ads, “Paper money Where His Mouth Is” and “Keeping the Promise” will run for two weeks from July 10 to July 23. The ads will become visible on CNN and MSNBC nationally and locally in Iowa, New Hampshire, South Carolina and Nevada, the first four caucus and primary brilliances. The ads will focus on Steyer’s platform to break corporate gridlock and introduce practical policies to benefit all Americans, his electioneer said in a press release.

Steyer entered the crowded Democratic field on Tuesday, vowing to focus on climate trade and reforming the political system. In the last two years he has spent millions of his own funds on a drive to impeach President Donald Trump that has contained advertising and public speaking engagements. The former hedge fund manager will spend at least $100 million on his presidential operations, said spokesman Alberto Lammers.

Campaign manager Heather Hargreaves said in the release that Steyer is meet for president because he sees how the “broken political system in Washington has failed the American people and has a plan to change it.”

Steyer whim have to receive donations from at least 65,000 unique donors and poll at 1% or higher in three conditioning polls by July 16 to join the Democratic presidential primary debates at the end of the month. To qualify for the third Democratic deliberates, he will have to hit 2% in four polls and receive 130,000 unique donors.

“Government by and for all the people, not just the tough and well connected. That’s the American promise,” Steyer said in one of his ads, according to the press release. “But corporations and special notes are in control. Nothing’s happening for real people. Our democracy has been purchased. The candidates running for president have outstanding ideas, but we can’t get anything done unless we make our democracy serve the people again. I’m running for President because it’s every so often old-fashioned our democracy works for people.”

The Steyer campaign did not immediately return CNBC’s request for further comment.

Correction: Tom Steyer discharged a $1.4 million ad campaign on Wednesday. An earlier version misstated the day.

— CNBC’s Brian Schwartz contributed to this communiqu.

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