Steyer, who has previously angered political offerings without ever having launched a campaign, has never completely ruled out a run in 2020 despite his announcement in January, according to a source familiar with the situation.
According to the source, Steyer began planning an announcement in June, telling employees of its two organizations, Need to Impeach and Next Gen, that he was planning to submit a bid by 2020.
The House of Representatives races in 2018 marked the third consecutive election cycle in which Steyer spent tens of millions of dollars supporting Democratic candidates. But it is Steyer's efforts to sue Trump for making him the most visible – in self-financed television commercials, calling on Congress to dismiss the President.
Steyer cited his efforts to sue Trump in January, first as the reason he did not want to make his own presidential bid.
He added, "I do not currently run as President, instead I reaffirm my commitment to Need to Impeach in 2019 until Parliament initiates impeachment or Mr. Trump resigns."
When Steyer joins the race , he will join a crowded democratic elementary school, which has already participated in the first round of primary debates.