Tom Steyer

Overview

Tom Steyer is a billionaire investor, philanthropist, and nationally recognized climate activist who transitioned from finance into public advocacy and political engagement. Founded and led Farallon Capital Management, building it into a multibillion-dollar global investment firm before stepping away to focus on public service and activism.

After leaving finance 14 years ago, Steyer has pledged to give the majority of his wealth away during his lifetime and has devoted his time and wealth to progressive causes, particularly climate activism and environmental leadership. He is co-founder of Beneficial State Bank, a community development bank focused on social equity, environmental sustainability, and responsible lending.

He previously ran for the Democratic presidential nomination in 2020, centering his campaign on climate change and economic reform. In California, held advisory roles, including serving as co-chair of Governor Gavin Newsom's Business and Jobs Recovery Task Force during the COVID-19 recovery period. He helped fund and pass ballot initiatives like Prop 39, directing billions into clean energy upgrades for schools.

Why He is Running

Tom Steyer positions himself as a climate-first, pro-democracy, anti-corporate Democrat who combines financial expertise with progressive activism. His campaign emphasizes using government, markets, and civic engagement together to tackle California's biggest challenges-especially affordability and climate change.

Key Campaign Priorities

1. Affordability & Cost of Living

• Housing: Lowering housing costs through large-scale housing construction, plans to build up to 1 million new homes
• Homelessness: Address through state-level coordination
• Lowering costs: Reforming corporate tax structures to reduce burden on working families, and making the extremely wealthy pay their fair share. Reducing utility and energy costs through expansion of clean renewable energy
• Education: Universal access to free preschool and community college
• Economic Opportunity: Workforce development tied to clean energy and emerging industries
• Healthcare: Transition to single-payer healthcare system

2. Climate Leadership & Clean Energy Economy

• Transition to 100% clean energy
• Expand green jobs and climate infrastructure
• Position California as a global leader in climate innovation

3. Political Reform & Accountability

• Ban corporate PAC contributions in state elections
• Reduce corporate influence in policymaking
• Increase transparency and accountability in government

Endorsements

Labor Unions & Workers Organizations:

Progressive & Grassroots Support:

Backing from progressive organizers and climate activists aligned with his long-standing work through NextGen America, growing coalition of young voters and climate focused advocates, support from labor-aligned and criminal justice reform groups

Political Assessment