Tom Steyer spends $195 million, setting national ad record

Billionaire Tom Steyer has set a new national record for political advertising spending in his campaign to become California's next governor, pouring more than $195 million into television, cable, and radio ads during the primary contest. The unprecedented sum, compiled by advertising tracker AdImpact, has drawn criticism from rivals who suggest he is attempting to buy the office, as it dwarfs the spending of his nearest competitor, fellow Democrat and former state attorney general Xavier Becerra, by more than twentyfold.

The financial advantage has propelled Steyer, a former hedge fund manager and liberal activist who has never held elected office, into a leading position within a crowded field. However, he has not broken away from a top tier of candidates that includes Becerra and Republican Steve Hilton as the June 2 primary approaches. Mail-in voting is already underway.

Steyer's spending eclipses the previous raw dollar record for a statewide campaign, set in 2010 by Republican Meg Whitman, who spent $178.5 million in a losing gubernatorial bid. Adjusted for inflation, Whitman's full-election spending still holds the state record. Nationally, no other current candidate...