The New York Times reports:
Tom Steyer, the California billionaire who has crusaded for President Trump’s impeachment, said on Wednesday that he would not join the pack of Democrats running for president in 2020 and would instead redouble his efforts to topple Mr. Trump before the election.
Mr. Steyer’s decision came as a surprise even to some of his political confidants. He had made deliberate preparations in recent months to seek the White House, running television ads in the early primary states, recruiting potential staff members and even designating a campaign manager for a possible run.
But Mr. Steyer began informing aides early this week that he would not be a candidate after all, after concluding that he could have a greater political impact through his impeachment activism, several advisers to Mr. Steyer said.
Steyer plans to spend $40M on his impeachment campaign.