In a time of massive inequalities, though, where people feel disillusioned and powerless, billionaires can present themselves as the only ones with the resources and independence to get things done.
The problem is, billionaires are generally pretty bad people, and certainly can't be trusted to reliably champion the interests of the working class.
Steyer, despite his public embrace of environmentalist and progressive causes, was heavily invested in private prisons and even fossil fuel companies.
In 2014, the New York Times reported that "Mr Steyer's fund, Farallon Capital Management, has pumped hundreds of millions of dollars into companies that operate coalmines and coal-fired power plants from Indonesia to China." For years, his company also "invested heavily in the Corrections Corporation of America, the nation's largest private prison firm".
Steyer's investments were so controversial that at one point, Yale students protested the way Steyer was using their university's endowment.
This is so often the way with these "good billionaires."
Warren Buffett, portrayed as kind and grandfatherly, was unapologetic when it was exposed that a company he owned was giving predatory loans to mobile home owners.
Michael Bloomberg not only has a record of crude sexism, but his solution to the New York City homelessness crisis was to buy the homeless one-way tickets out of town.
Bloomberg was clear on whose interests he served, saying "If we could get every billionaire around the world to move here it would be a godsend." The 60,000 homeless people his administration left behind might disagree.
Billionaire candidates often run promising to fix the very problems that their own existence created in the first place.
Make the world a better place, tax billionaire douchebags at a 90% pace.