Your state’s next governor might be a billionaire.
Billionaires in both political parties are throwing their hats in the ring to be the next governor in three different states across the US, and some of them are spending their own fortunes to do so.
Democratic Gov. JB Pritzker of Illinois is the sole billionaire serving as governor of a US state right now. But it’s not that uncommon for billionaires to run for, and even win, their state’s top office.
Before becoming Secretary of the Interior under President Donald Trump, billionaire Doug Burgum served for eight years as the governor of North Dakota. And before he was elected to the Senate in 2024, Republican coal magnate Jim Justice served as West Virginia’s governor.
Politicians in America tend to be wealthy, and running for office is expensive. Billionaires and multi-millionaires often spend their own money to fund their campaigns, and sometimes they’re recruited by party leaders specifically for that reason.
Here’s what to know about the billionaires running for governor in 2026.
Tom Steyer in California
Billionaire Tom Steyer is a leading Democratic contender for governor of California in 2026.
Steyer, a philanthropist and climate activist who also ran for president in 2020, made his fortune running the hedge fund Farallon Capital.
He is estimated to be worth $2 billion, according to Forbes.
His gubernatorial campaign is almost entirely self-funded. He has poured at least $38 million of his own wealth into his campaign so far, according to recent disclosures.
Recent polling has generally put Steyer in fifth place, landing behind GOP candidates Steve Hilton and Sheriff Chad Bianco, along with Democratic Rep. Eric Swalwell and former Democratic Rep. Katie Porter.
Vivek Ramaswamy in Ohio
Billionaire Vivek Ramaswamy is the overwhelming favorite to be the GOP nominee for governor of Ohio in 2026.
Ramaswamy got rich in the biotech industry, and Forbes estimates his net worth to be $2.2 billion.
He rose to political prominence during the 2024 GOP presidential primary, when he poured over $30 million into his largely self-funded, long-shot campaign. He was later slated to be the co-head of DOGE, but ultimately left to launch his gubernatorial bid.
Unlike his presidential bid, Ramaswamy is not self-funding this time, and he raised nearly $20 million in 2025 without contributing his own funds.
He is expected to face Democratic candidate Amy Acton, the former director of the state’s Department of Health, in the November election.
Rick Jackson in Georgia
Billionaire Rick Jackson, the founder and CEO of Jackson Healthcare, is a leading contender for the GOP nomination in Georgia’s 2026 gubernatorial election.
He entered the race in has pledged to spend $50 million on his campaign, a sum that’s sure to shake up an already crowded field.
Other major contenders in the GOP primary include Secretary of State Brad Raffensberger, Lieutenant Gov. Burt Jones, and state Attorney General Chris Carr. Trump has endorsed Jones.
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