The limits of self-funding: From the Politics Desk

From the Politics DeskThe limits of self-funding: From the Politics DeskPlus, Iran war whiplash. Listen to this article with a free account00:0000:00Add NBC News to GoogleSteve Hilton advances to the general election in California governor's race04:07Get more newsLiveonShareAdd NBC News to GoogleJune 10, 2026, 5:11 PM EDTBy The Politics DeskWelcome to From the Politics Desk, a daily newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the White House, Capitol Hill and the campaign trail.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.In today’s edition, Ben Kamisar takes stock of the half-billion dollars Tom Steyer has spent over the course of two unsuccessful bids for office. Plus, Andrea Mitchell digs into the latest back-and-forth between the U.S. and Iran. Sign up to receive this newsletter in your inbox every weekday here.— Adam WollnerMore than $200 million later, Tom Steyer’s second bid for elected office is doneBy Ben KamisarBillionaire climate activist Tom Steyer’s bid for governor of California is the second time he has spent more than nine figures in an unsuccessful attempt to win public office.NBC News projected yesterday that former Fox News host Steve Hilton advanced to the general election for governor, joining former Health and Human Services Secretary Xavier Becerra. That means Steyer is out, unable to push into the top two spots in the all-party primary.Steyer spent more than $215 million of his own money on his campaign, according to the latest state campaign finance reports. That money has helped Steyer flood the airwaves with a staggering $209 million in ad spending, according to the ad-tracking firm AdImpact.To put that spending in context, that’s about two-thirds of all ad spending in the entire governor’s race, including dozens of candidates and outside groups. Becerra, the candidate who has spent the second-most on ads, spent $11.7 million, accordi...