Billionaire Tom Steyer Rules Out 2020 Run; Will Use Money to Help Trump Impeachment Efforts

Billionaire investor and Democratic activist Tom Steyer said Wednesday that he will not run for the White House in 2020 and will instead focus on calling for President Donald Trump's impeachment.

Steyer, who has spent $50 million on his Need to Impeach campaign and announced plans to spend $40 million more this year, said at an event in Des Moines that "the impeachment question has reached an inflection point," given that Democrats have taken majority control of the House.

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