American businessman (born 1957)
Thomas Fahr Steyer (; born June 27, 1957) is an American climate investor, businessman, hedge fund manager, philanthropist, environmentalist, and liberal activist. Steyer is the founder and former co-senior-managing-partner of Farallon Capital, and the co-founder of OneCalifornia Bank, which became (through merger) Beneficial State Bank, an Oakland-based community development bank. Farallon Capital manages $20 billion in capital for institutions and high-net-worth individuals. The firm's institutional investors include college endowments and foundations. Steyer served on the board of trustees at Stanford University from 2007 to 2017. He was formerly a partner and member of the executive committee at Hellman &amp; Friedman, a San Francisco–based private equity firm.
In 2010, Steyer and his wife signed The Giving Pledge to donate half of their fortune to charity during their lifetime. In 2012, he sold his stake in and retired from Farallon Capital. Switching his focus to politics and the environment, he launched NextGen America, a nonprofit organization that supports progressive positions on climate change, immigration, health care, and education.
Steyer sought the Democratic nomination for president in 2020, but dropped out of the race after the first four state contests, having spent more than $191 million on campaign advertising but failing to obtain any pledged delegates.
In 2021, Steyer co-founded Galvanize Climate Solutions with Katie Hall, his longtime friend and business partner. Galvanize is a climate-focused investment firm.
Early life and education.
Steyer was born in Manhattan. His mother, Marnie (née Fahr) was a teacher of remedial reading at the Brooklyn House of Detention and his father, Roy Henry Steyer was a partner in the New York law firm of Sullivan &amp; Cromwell, and was a prosecutor at the Nuremberg Trials. His father was a non-practicing Jew, and his mother was Episcopalian.
Steyer grew up on the Upper East Side of Manhattan, and attended the Buckley School and Phillips Exeter Academy. He graduated from Yale University "summa cum laude" in economics and political science, and was elected to Phi Beta Kappa. He was captain of the soccer team. At Yale, Steyer was a member of Wolf's Head Society Steyer received his MBA from Stanford Graduate School of Business, where he was an Arjay Miller Scholar. He has served on the Stanford University board of trustees.
Career.
After graduation from Yale, Steyer began his professional career at Morgan Stanley in 1979. After two years at Morgan Stanley, he attended Stanford Graduate School of Business. Steyer worked at Goldman Sachs from 1983 to 1985 as an associate in the risk arbitrage division, where he was involved in mergers and acquisitions. He later became a partner and member of the Executive Committee at Hellman &amp; Friedman, a San Francisco–based private equity firm.
In January 1986, Steyer founded Farallon Capital, a hedge fund firm headquartered in San Francisco. Steyer made his fortune running Farallon, which was managing $20 billion by the time he left the company. Steyer was known for taking high risks on distressed assets within volatile markets.
In October 2012, Steyer stepped down from his position at Farallon in order to focus on advocating for alternative energy. Steyer decided to dispose of his carbon-polluting investments in 2012, although critics say he did not dispose of them quickly enough and noted that the lifespan of the facilities he funded would extend through 2030. A 2014 "New York Times" article said coal-mining companies that Farallon invested in or lent money to under Steyer had increased their coal production by 70 million tons annually since receiving money from Farallon, and that Steyer remained invested in the Maules Creek coal mine. Prior to Steyer leaving Farallon, a student activist group called UnFarallon criticized the company for investments in companies with anti-environmental policies. In 2016, some critics noted that Farallon had also invested in private prisons while Steyer was leading the hedge fund. According to SEC filings, Steyer was at the helm as the hedge fund purchased nearly $90 million of Corrections Corporation of America stock (5.5% of the company's outstanding shares). After leaving Farallon, Steyer hosted a two-day think-tank entitled the 'Big Think Climate Meeting' to discuss how to address climate change.
On April 17, 2020, it was announced that California Governor Gavin Newsom had selected Steyer to chair a task force focused on the state's economic recovery after the 2019–20 coronavirus pandemic. Steyer's co-chair was political advisor Ann O'Leary.
On May 28, 2024, Spiegel &amp; Grau published Steyer's book, "Cheaper, Faster, Better: How We'll Win the Climate War". The book is a New York Times bestseller. 
Philanthropy.
In 2006, Steyer and his wife, Kat Taylor, founded OneRoof, Inc., a B Corp and social enterprise business designed to bring broadband connectivity, computer literacy, and employment skills via "OneRoof Internet Centers" to small rural towns in rural India and Mexico. Neither Steyer nor Taylor remain with the organization. 
In 2007, Steyer and Taylor founded Beneficial State Bank, a community development bank, for the purpose of providing commercial banking services to underserved Bay Area businesses, nonprofits, and individuals, with operations now in California, Oregon, and Washington. Its stock ownership is entirely held by a foundation such that all profits are reinvested in local communities.
Steyer and Taylor put up $22.5 million to start the bank and create the One PacificCoast Foundation to engage in charitable and educational activities, provide lending support, investments, and other services for disadvantaged communities and community service organizations in California.
In August 2010, Steyer and his wife signed onto The Giving Pledge, an initiative of Bill Gates and Warren Buffett. In 2011 Steyer founded Advanced Energy Economy, an energy research and lobbying group with Hemant Teneja, an Indian-born American venture capitalist. Neither Steyer nor Teneja remains with the organization.
Steyer and Taylor created the TomKat Ranch in Pescadero, California, near Half Moon Bay. The ranch is meant to research and demonstrate a sustainable way of doing agriculture. The ranch's activities include underwriting healthy food programs and co-producing an independent film, "La Mission", starring Benjamin Bratt, about San Francisco's Mission neighborhood. Around 2011, Steyer joined the board of Next Generation, a nonprofit intending to tackle children's issues and the environment. In 2013, Steyer founded NextGen Climate, an environmental advocacy nonprofit and political action committee.
In August 2015, Steyer launched the Fair Shake Commission on Income Inequality and Middle Class Opportunity, which was intended to advocate policies for promoting income equality.
Political activity.
In 1983, Steyer worked on Walter Mondale's presidential campaign. He raised money for Bill Bradley in 2000 and John Kerry in 2004.
An early supporter of Hillary Clinton in 2008, Steyer became one of Barack Obama's most prolific fundraisers. Steyer served as a delegate to the Democratic National Conventions in 2004 and 2008. Steyer has been a member of the Hamilton Project and has been involved with the Democracy Alliance, a network of progressive donors whose membership in the group requires them to donate at least $200,000 a year to recommended organizations.
After the Obama victory in 2008, Steyer was considered for appointment as Secretary of Treasury. Jim Steyer, Tom's brother, told "Men's Journal" that Obama and his advisors would regret having chosen someone else, due to his expertise. In January 2013, rumors briefly arose that Steyer might be named as a replacement for Energy Secretary Steven Chu. Asked whether he would accept such an appointment, Steyer said he would.
Ballot measures.
In 2010, Steyer joined the former Secretary of State, San Francisco-based George Shultz, to co-chair the No on Prop. 23 campaign, the measure on the November 2010 ballot concerning California's environmental legislation, AB32. He donated $5 million to the campaign, which defeated Proposition 23.
In 2012, Steyer was the leading sponsor of Proposition 39 on the ballot in California. Its purpose was to close a loophole that allowed multi-state corporations to pay taxes out of state, mandating that they pay in California. Steyer contributed $29.6 million, saying that he could wait no longer for the change.
While supporters of Steyer's effort said it would "help break the partisan gridlock in Sacramento", critics objected that "the increasing involvement of rich individuals perverts the original intent of the initiatives". Kim Alexander, president of the California Voter Foundation, said that the level of giving was unprecedented for an individual donor. Some critics called the initiative an ineffective jobs stimulus, while Steyer labeled it a success for closing a corporate loophole.
2012.
In 2012, Steyer hosted a fundraiser at his home for President Obama. At a private meeting, Steyer, along with fifteen other top donors, reportedly pressed the president regarding the Keystone pipeline, which Steyer opposed. Obama was said to be supportive of Steyer's views, but reluctant to put his full weight behind any initiatives without better proof. Steyer was critical of Obama's decision to keep an energy initiative as a low priority.
Democratic National Convention speech.
Steyer gave a speech at the 2012 Democratic National Convention, saying that the election was "a choice about whether to go backward or forward. And that choice is especially stark when it comes to energy". Steyer said that Republican presidential nominee Mitt Romney would take no action to reduce U.S. dependence on fossil fuels; rather, he said, Romney would increase it. Steyer went on to support Obama's policies, which he described as investments to "make us energy independent and create thousands of jobs."
2013–2014.
Anti-Keystone rally.
In February 2013, Steyer spoke at an anti-Keystone XL Pipeline rally on the Washington Mall organized by Bill McKibben and attended by tens of thousands. McKibben asked Steyer to join the protest by tying himself to the White House gate and getting arrested, but Steyer was dissuaded by his brother Jim.
NextGen America.
In 2013, Steyer founded NextGen Climate (now NextGen America), an environmental advocacy nonprofit and political action committee. NextGen Climate provided the environmentalist movement with significant capital and political influence. Steyer spent almost $74 million on the 2014 elections.
In October 2017, NextGen America donated grants totaling $2.3-million to eight national immigration law service organizations, including the University of California Immigrant Legal Services Center, the Immigration Law Clinic at U C Davis School of Law, U C Hastings Center for Gender and Refugee Studies, Asian Americans Advancing Justice — Asian Law Caucus, California Rural Legal Assistance Foundation, Center for Community Change, American Immigration Lawyers Association, and the Council on American-Islamic Relations.
Electoral campaign activity.
In 2014, Steyer funded political campaigns to advocate for the election of at least nine candidates and to influence climate change policy through NextGen Climate. Those races included helping elect Ed Markey of Massachusetts over Stephen Lynch to the Senate in a special election in 2013. Reportedly, Steyer spent $1.8 million attacking Lynch, including money for a plane Steyer paid to fly over a Boston Red Sox game with a banner that read, "Steve Lynch for Oil Evil Empire".
Steyer supported Democrat Terry McAuliffe's successful 2013 campaign for governor of Virginia through his NextGen Climate Action, contributing funds for paid media (such as television advertisements) and get-out-the-vote efforts. Steyer also supported Democrats in Senate races in Iowa, Colorado, New Hampshire, and Michigan and in Gubernatorial races in Pennsylvania, Maine, and Florida. Steyer cited Florida's pivotal role in the 2016 presidential election and its geographic position, which makes it highly vulnerable to climate change, as reasons for his focus on the state.
In June 2014, Steyer said he planned to get involved in California legislative races, targeting three to four races in each house of the Legislature in a bid to affect climate change policy. The Guardian reported in 2014 that Steyer had become the single largest donor in American politics and is the leading advocate of environmental issues.
Steyer spent about $67 million of his personal fortune in the 2014 midterm elections and had a 40% success rate. Of the seven Senate and gubernatorial candidates NextGen Climate supported, three won their races.
2015.
In April 2015, Steyer testified before the California Legislature in favor of a greenhouse-gas reduction bill. In August 2015, Steyer was the guest of honor at the California Democratic Party headquarters to discuss bills to cut gasoline use in half by 2030, although Steyer did not commit to spending large sums of money to support the bills.
In July 2015, Steyer called on 2016 candidates to develop strategic plans to provide the United States with at least 50% of its energy from clean sources by 2030. Reportedly, the message was targeted at Hillary Clinton, who had yet to outline an environmental policy. It was suggested that this was a strategic move to secure a political alliance with Clinton.
2016.
Steyer raised money for Hillary Clinton, and