Tom Steyer opts out of California Senate race

LOS ANGELES — Billionaire climate activist Tom Steyer announced Thursday that he will not enter the race to succeed California Sen. Barbara Boxer.

Steyer was seriously considering a 2016 bid after the Democratic senator announced earlier this month she would step down at the end of her term.

But he said in a statement on The Huffington Post that he sees his work at home in California, not in Washington.

"This was a very hard decision. The U.S. Senate offers a unique opportunity to serve, but I also know that we will have excellent candidates. I applaud and respect those running, and am confident that Californians will choose a representative who will serve them well," he wrote.

State Attorney General Kamala Harris — another Democrat — has entered the race and at least a dozen others are considering bids, including former Los Angeles Mayor Antonio Villaraigosa.