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Billionaire and philanthropist Tom Steyer officially entered the 2020 presidential race on Tuesday. Steyer — who is best known for his "need to impeach" campaign against President Donald Trump — shared his announcement video on Twitter. "I think what people believe is that the system has left them," Steyer said in his announcement video, in which he decried the heavy influence of major financial institutions and pharmaceutical companies on politics. "I think people believe that the corporations have bought the democracy." It’s true. I’m running for president. pic.twitter.com/u8x2lZah7Z — Tom Steyer (@TomSteyer) July 9, 2019 Steyer's name had begun being floated as a potential presidential candidate in January, when he visited Iowa, the site of the caucuses that kick off the primary election season. At the time, the 62-year-old billionaire had said he would not run for president. SLIDESHOW: TOP DEMOCRATS RUNNING FOR PRESIDENT IN 2020 Steyer joins an already crowded 23-candidate Democratic field for the 2020 presidential race. His bid comes just one day after Rep. Eric Swalwell (D-California) withdrew his candidacy on Monday. He has donated significant amounts of money to support Democratic candidates in recent elections, including the 2018 midterm elections. Steyer spent $120 million on campaign contributions for the 2018 midterms. Earlier this year, Steyer said he was happy with some of the other Democratic 2020 contenders like Sen. Elizabeth Warren (D-Massachusetts) and Gov. Jay Inslee (D-Washington), who early on made bold proposals regarding economic reform and climate change, respectively. We must vote out Trump in 2020, but it’s not enough. Fixing our democracy goes much deeper than that. State legislatures hold the power to draw Congressional maps, and those maps impact just how much your vote counts. https://t.co/kxw2oLoLDy — Tom Steyer (@TomSteyer) July 7, 2019 Mr. Trump has finally achieved what he promised. He can be accused of a violent crime, and the leader of the opposition party will pay no attention and show no outrage. When will our leaders stand up for our values and impeach him? — Tom Steyer (@TomSteyer) June 28, 2019 .@apsFYI's corruption endangers Arizonans and our system of politics. Watch to learn more: pic.twitter.com/bOeQwYf1nw — Tom Steyer (@TomSteyer) July 5, 2019

You searched for: Tom Steyer/

Billionaire Tom Steyer, Known For “Need To Impeach” Trump Campaign, Enters 2020 Presidential Race As Democrat [VIDEO]

Billionaire Tom Steyer Accuses GOP House Majority Leader Kevin McCarthy Of Antisemitism After Tweet