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Steyer, a 61-year-old hedge fund manager, will make the announcement Wednesday in Des Moines, Iowa.
Steyer spokesman Aleigha Cavalier told CNN on Wednesday that the billionaire would focus on his efforts to attack Trump from outside, including through Need to Impeach, a group he founded after Trump's victory in 2016, aimed to garner public support for Trump's dismissal. known for his dismissal work, which included a series of television commercials featuring the billionaire himself. Steyer spent more than $ 120 million on political causes in 2018.
Steyer was publicly considering a run for 2020 at the same time as he was heading his impeachment organization and NextGen America, a group that he had founded in 2013 to fight climate change by pushing renewable energies
Steyer told CNN last week that he would only show up when he thought he was offering something new to the field of candidates.
"I think about what I can bring and who is not yet available," he said. "If I do not believe that my background, beliefs and priorities are different from those of other runners, there is no point in being a very large group of candidates."
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