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Billionaire Environmentalist Steyer Passes on California Senate Run

In a blog on The Huffington Post, Steyer wrote that he asked himself " How best can I fight for a level playing field at this point?"
Image: Investor, philanthropist and environmentalist Tom Steyer speaks at the Center for American Progress' 2014 Making Progress Policy Conference in Washington
Investor, philanthropist and environmentalist Tom Steyer speaks at the Center for American Progress' 2014 Making Progress Policy Conference in Washington November 19, 2014. REUTERS/Gary Cameron (UNITED STATES - Tags: POLITICS)GARY CAMERON / Reuters

Tom Steyer, the billionaire environmental activist who spent over $70 million on the 2014 midterms, announced Thursday that he will not pursue a run to replace retiring California Democrat Sen. Barbara Boxer.

In a blog on The Huffington Post, Steyer wrote that the decision "about whether to engage from the outside or seek elected office came down to a single question: How best can I fight for a level playing field at this point?"

"Given the imperative of electing a Democratic president -- along with my passion for our state -- I believe my work right now should not be in our nation's capital but here at home in California, and in states around the country where we can make a difference," he said.

California Attorney General Kamala Harris has announced a run for the seat, and former Los Angeles mayor Antonio Villaraigosa is also said to be considering a bid.

- Carrie Dann