Billionaire Steyer’s spending binge dwarfs rival campaigns in California governor’s race

LOS ANGELES (AP) — In the wide-open race for California governor, billionaire Tom Steyer is on a spending binge.

The hedge fund manager-turned-liberal activist is using his personal fortune to saturate TV screens and mobile phones with advertising, while his competitors accuse him of trying to use his vast wealth to buy the state’s most powerful job.

Steyer’s ads — in which he promises to bring down household costs or rails against federal immigration raids — appear inescapable at times in heavily Democratic Los Angeles...