Democratic megadonor Tom Steyer on Wednesday jumped into California’s crowded governor’s race , pitching himself as the ultimate outsider who can lower the cost of living, bring back affordable housing, and drop electricity rates for more than 39 million people in the country’s most populous state.

In a nearly two-minute video on YouTube, Steyer, a billionaire who has been referred to as the “ next George Soros “, made two core promises that seem to be at odds. He wants to preserve the state’s status as a hub for business and innovation while also lowering the cost of living for everyday Californians by making corporations pay “their fair share.”

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