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Tom Steyer
Thomas Fahr Steyer (/ˈstaɪ.ər/; born June 27, 1957) is an American climate investor, businessman, hedge fund manager, philanthropist, environmentalist, political candidate 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 & 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.
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 & 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 as valedictorian of his class. 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.
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 & 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.
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Tom Steyer
Thomas Fahr Steyer (/ˈstaɪ.ər/; born June 27, 1957) is an American climate investor, businessman, hedge fund manager, philanthropist, environmentalist, political candidate 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 & 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.
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 & 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 as valedictorian of his class. 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.
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 & 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.