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Billionaire hedge fund founder Tom Steyer announced Wednesday that he is running for governor of California, arguing that he is not beholden to special interests and can take on corporations that are making life unaffordable in the state.

“The richest people in America think that they earned everything themselves. Bulls—, man. That’s so ridiculous,” Steyer said in an online video announcing his campaign. “We have a broken government. It’s been bought by corporations and my question is: Who do you think is going to change that? Sacramento politicians are afraid to change up this system. I’m not. They’re going to hate this. Bring it on.”

Protesters hold placards and banners during a rally against Whitehaven Coal in Sydney in 2014. Dozens of protesters and activists gathered downtown to protest against the controversial massive Maules Creek coal mine project in northern New South Wales.

(Saeed Khan / AFP/Getty Images)

Steyer, 68, founded Farallon Capital Management, one of the nation’s largest hedge funds, and left it in 2012 after 26 years. Since his departure, he has become a global environmental activist and a major donor to Democratic candidates and causes.

But the hedge firm’s investments — notably a giant coal mine in Australia that cleared 3,700 acres of koala habitat and a company that runs migrant detention centers on the U.S.-Mexico border for U.S. Immigration and Customs Enforcement — will make him susceptible to political attack by his gubernatorial rivals.

Steyer has expressed regret for his involvement in such projects, saying it was why he left Farallon and started focusing his energy on fighting climate change.

Democratic presidential candidate Tom Steyer addresses a crowd during a presidential primary election-night party in Columbia, S.C.

(Sean Rayford / Getty Images)

Steyer previously flirted with running for governor and the U.S. Senate but decided against it, instead opting to run for president in 2020. He dropped out after spending nearly $342 million on his campaign, which gained little traction before he ended his run after the South Carolina primary.

Next year’s gubernatorial race is in flux, after former Vice President Kamala Harris and Sen. Alex Padilla decided not to run and Proposition 50, the successful Democratic effort to redraw congressional districts, consumed all of the political oxygen during an off-year election.

Most voters are undecided about who they would like to replace Gov. Gavin Newsom, who cannot run for reelection because of term limits, according to a poll released this month by the UC Berkeley Institute of Governmental Studies and co-sponsored by The Times. Steyer had the support of 1% of voters in the survey.

In recent years, Steyer has been a longtime benefactor of progressive causes, most recently spending $12 million to support the redistricting ballot measure. But when he was the focus of one of the ads, rumors spiraled that he was considering a run for governor.

In prior California ballot initiatives, Steyer successfully supported efforts to close a corporate tax loophole and to raise tobacco taxes, and fought oil-industry-backed efforts to roll back environmental law.

His campaign platform is to build 1 million homes in four years, lower energy costs by ending monopolies, make preschool and community college free and ban corporate contributions to political action committees in California elections.

Steyer’s brother Jim, the leader of Common Sense Media, and former Biden administration U.S. Surgeon General Vivek Murthy are aiming to put an initiative on next year’s ballot to protect children from social media, specifically the chatbots that have been accused of prompting young people to kill themselves. Newsom recently vetoed a bill aimed at addressing this artificial intelligence issue.

Victor Conte, the architect of a scheme to provide undetectable performance-enhancing drugs to professional athletes including baseball stars Barry Bonds and Jason Giambi and Olympic track champion Marion Jones decades ago, has died. He was 75.

Conte died Monday, SNAC System, a sports nutrition company he founded, said in a social media post. It did not disclose his cause of death.

The federal government’s investigation into another company Conte founded, the Bay Area Laboratory Co-Operative, yielded convictions of Jones, elite sprint cyclist Tammy Thomas, and former NFL defensive lineman Dana Stubblefield along with coaches, distributors, a trainer, a chemist and a lawyer.

Conte, who served four months in federal prison for dealing steroids, talked openly about his famous former clients. He went on television to say he had seen three-time Olympic medalist Jones inject herself with human growth hormone, but always stopped short of implicating Bonds, the San Francisco Giants slugger.

The investigation led to the book “Game of Shadows.” A week after the book was published in 2006, baseball Commissioner Bud Selig hired former Senate Majority Leader George Mitchell to investigate steroids.

The Steroids Era

Conte said he sold steroids known as “the cream” and “the clear” and advised on their use to dozens of elite athletes, including Giambi, a five-time major league All-Star, the Mitchell report said.

“The illegal use of performance-enhancing substances poses a serious threat to the integrity of the game,” the Mitchell report said. “Widespread use by players of such substances unfairly disadvantages the honest athletes who refuse to use them and raises questions about the validity of baseball records.”

Mitchell said the problems didn’t develop overnight. Mitchell said everyone involved in baseball in the previous two decades — including commissioners, club officials, the players’ association and players — shared some responsibility for what he called “the Steroids Era.”

The federal investigation into BALCO began with a tax agent digging through the company’s trash.

Conte wound up pleading guilty to two of the 42 charges against him in 2005 before trial. Six of the 11 convicted people were ensnared for lying to grand jurors, federal investigators or the court.

Bonds’ personal trainer, Greg Anderson, pleaded guilty to steroid distribution charges stemming from his BALCO connections. Anderson was sentenced to three months in prison and three months of home confinement.

Bonds was charged with lying to a grand jury about receiving performance-enhancing drugs and went on trial in 2011. Prosecutors dropped the case four years later when the government decided not to appeal an overturned obstruction of justice conviction to the Supreme Court.

A seven-time National League MVP and 14-time All-Star outfielder, Bonds ended his career after the 2007 season with 762 homers, surpassing the record of 755 that Hank Aaron set from 1954-76. Bonds denied knowingly using performance-enhancing drugs but has never been elected to the Baseball Hall of Fame.

Bonds didn’t respond to an email seeking comment.

Conte told the Associated Press in a 2010 interview that “yes, athletes cheat to win, but the government agents and prosecutors cheat to win, too.” He also questioned whether the results in such legal cases justified the effort.

Conte’s attorney, Robert Holley, didn’t respond to an email and phone call seeking comment. SNAC System didn’t respond to a message sent through the company’s website.

Defiant about his role

After serving his sentence in a minimum security prison he described as “like a men’s retreat,” Conte got back in business in 2007 by resuscitating a nutritional supplements business he had launched two decades earlier called Scientific Nutrition for Advanced Conditioning or SNAC System. He located it in the same building that once housed BALCO in Burlingame, Calif.

Conte remained defiant about his central role in doling out designer steroids to elite athletes. He maintained he simply helped “level the playing field” in a world already rife with cheaters.

To Dr. Gary Wadler, a then-member of the World Anti-Doping Agency, Conte might as well have been pushing cocaine or heroin.

“You are talking about totally illegal drug trafficking. You are talking about using drugs in violation of federal law,” Wadler said in 2007. “This is not philanthropy and this is not some do-gooding. This is drug dealing.”

The hallway at SNAC System was lined with game jerseys of pro athletes, and signed photographs, including athletics stars Tim Montgomery, Kelli White and CJ Hunter, all punished for doping.

Conte wore a Rolex and parked a Bentley and a Mercedes in front of his building. He told the AP in 2007 he wouldn’t drive over the speed limit.

“I’m a person who doesn’t break laws anymore,” he said. “But I still do like to look fast.”

Years later, he met with the then-chairman of the World Anti-Doping Agency, Dick Pound.

“As someone who was able to evade their system for so long, it was easy for me to point out the many loopholes that exist and recommend specific steps to improve the overall effectiveness of their program,” Conte said in a statement after the meeting.

He said that some of the poor decisions he made in the past made him uniquely qualified to contribute to the anti-doping effort.

SNAC System’s social media post announcing Conte’s death called him an “Anti-Doping Advocate.”

Conte was also a musician, serving as a bass player for the funk band Tower of Power for a short time in the late 1970s. He is pictured on the back of the band’s 1978 “We Came To Play” album.

“He was an excellent musician and a powerful force for clean sports and he will be missed,” band founder Emilio Castillo posted on X.

Associated Press sports writers Janie McCauley and Chris Lehourites contributed to this report.

MIAMI BEACH — South Florida is seeing a wave of new cars, but they won’t add to traffic or lengthen anyone’s commute. That’s because the cars are made of marine-grade concrete and were installed underwater.

Over several days late last month, crews lowered 22 life-size cars into the ocean, several hundred feet off South Beach. The project was organized by a group that pioneers underwater sculpture parks as a way to create human-made coral reefs.

“Concrete Coral,” commissioned by the nonprofit REEFLINE, will soon be seeded with 2,200 native corals that have been grown in a nearby Miami lab. The project is partially funded by a $5-million bond from the city of Miami Beach. The group is also trying to raise $40 million to extend the potentially 11-phase project along an underwater corridor just off the city’s 7-mile-long coastline.

“I think we are making history here,” Ximena Caminos, the group’s founder, said. “It’s one of a kind, it’s a pioneering, underwater reef that’s teaming up with science, teaming up with art.”

She conceived the overall plan with architect Shohei Shigematsu, and the artist Leandro Erlich designed the car sculptures for the first phase.

Colin Foord, who runs REEFLINE’s Miami coral lab, said they’ll soon start the planting process and create a forest of soft corals over the car sculptures, which will serve as a habitat teeming with marine life.

“I think it really lends to the depth of the artistic message itself of having a traffic jam of cars underwater,” Foord said. “So nature’s gonna take back over, and we’re helping by growing the soft corals.”

Foord said he’s confident the native gorgonian corals will thrive because they were grown from survivors of the 2023 bleaching event, during which a marine heat wave killed massive amounts of Florida corals.

Plans for future deployments include Petroc Sesti’s “Heart of Okeanos,” modeled after a giant blue whale heart, and Carlos Betancourt and Alberto Latorre’s “The Miami Reef Star,” a group of starfish shapes arranged in a larger star pattern.

“What that’s going to do is accelerate the formation of a coral reef ecosystem,” Foord said. “It’s going to attract a lot more life and add biodiversity and really kind of push the envelope of artificial reef-building here in Florida.”

Besides the project being a testing ground for new coral transplantation and hybrid reef design and development, Miami Beach Mayor Steven Meiner expects it to generate local jobs with ecotourism experiences such as snorkeling, diving, kayaking and paddleboard tours.

The reefs will be located about 20 feet below the surface of the water and about 800 feet from the shore.

“Miami Beach is a global model for so many different issues, and now we’re doing it for REEFLINE,” Meiner said during a beachside ceremony last month. “I’m so proud to be working together with the private market to make sure that this continues right here in Miami Beach to be the blueprint for other cities to utilize.”

The nonprofit also offers community education programs, where volunteers can plant corals alongside scientists, and a floating marine learning center, where participants can gain firsthand experience in coral conservation every month.

Caminos, the group’s founder, acknowledges that the installation won’t fix all of the problems — which are as big as climate change and sea level rise — but she said it can serve as a catalyst for dialogue about the value of coastal ecosystems.

“We can show how creatively, collaboratively and interdisciplinarily we can all tackle a man-made problem with man-made solutions,” Caminos said.

Fischer writes for the Associated Press. Associated Press videojournalist Cody Jackson contributed to this report.