ORLANDO, Fla. — Tom Steyer, the billionaire hedge fund manager who turned to environmental activism and campaigning to have President Trump impeached, is now running for president.

Steyer announced his intention to become the 26th Democrat to hop into the 2020 presidential race on Tuesday.

"Our country has been corrupted — openly — while politicians put corporate profits over the needs of their constituents, and focus on getting re-elected over doing what’s right," Steyer tweeted in his announcement. "I’ve taken on corporations and WON by going directly to the people. And I know we can do it again."


Steyer made his fortune in investments in the 80s and 90s before turning towards philanthropy. He and his wife joined other billionaires in 2010 in pledging to give at least half their wealth to charitable causes in their lifetime. 

He also turned to political activism, as an active supporter of President Obama and fighting construction of the Keystone-XL Pipeline. He founded NexGen America, a political action committee that sought to influence environmental policy. 

Steyer also spent $10 million on an ad campaign to call for the impeachment of President Trump in 2017. 

Steyer is joining a crowded Democratic presidential field. It currently has 25 major candidates after Rep. Eric Swalwell dropped out on Monday.