Thomas Fahr Steyer (/ˈstaɪ.ər/; born June 27, 1957) is an American billionaire businessman, philanthropist, environmental advocate, and Democratic political activist. He founded the San Francisco hedge fund Farallon Capital in 1986, and was its co-senior managing partner until leaving the firm in 2012. He then became active in climate advocacy and Democratic politics, founding NextGen America and later co-founding Galvanize Climate Solutions, a climate change-focused investment firm. According to Forbes, Steyer’s net worth stood at $2.4 billion as of April 2026.[1]
Steyer and his wife, Kat Taylor, have supported philanthropic and social-enterprise projects including Beneficial State Bank and the TomKat Ranch. He became a major Democratic donor in the 2010s, funding environmental ballot initiatives, candidate campaigns, and the Need to Impeach effort against Donald Trump. His 2024 book Cheaper, Faster, Better: How We’ll Win the Climate War appeared on the New York Times bestseller list.
In 2020, Steyer unsuccessfully sought the Democratic nomination for president, spending more than $253 million on his campaign and receiving no pledged delegates before withdrawing in February 2020. In November 2025, he announced a campaign in the 2026 California gubernatorial election to succeed term-limited governor Gavin Newsom;[2] his campaign rapidly became the highest-spending in the field, surpassing $130 million by April 2026.[3]
Endorsements
California’s Democratic Socialists, Sierra Club, California Nurses Association and many other unions and Democratic officials. A full list is shown on his endorsements page.
Reputation/Scandals/Successes
Tom Steyer has a polarizing reputation as an “anti-billionaire billionaire”. As a progressive climate activist and founder of Farallon Capital, he has spent hundreds of millions of dollars of his personal wealth on progressive ballot initiatives, the “Need to Impeach” campaign against Donald Trump, and massive, self-funded runs for office. [1, 2, 3, 4]
Core Aspects of His Reputation
- Climate Crusader vs. Hypocrite: He is widely recognized for divesting his hedge fund holdings to become a major environmental advocate, authoring the climate book Cheaper, Faster, Better, and funding green energy policies. However, critics argue his environmentalist credibility is complicated by his firm’s prior extensive investments in the petroleum industry.
- Self-Financed Outsider: Steyer champions economic populism, calling himself a “class traitor” and advocating for heavy taxation on the ultra-wealthy. He argues that funding his own campaigns makes him immune to corporate lobbying.
- Plutocratic Allegations: Detractors and political opponents often paint him as out of touch. Critics view his massive campaign spending as an attempt to “buy” elections, questioning how an ultra-wealthy hedge fund manager can legitimately relate to working-class struggles. [1, 2, 3, 4, 5, 6]
Political Standing
Steyer is running for Governor of California to succeed Gavin Newsom. He has secured key endorsements from labor unions and environmental advocacy groups, and even begrudging backing from the California Democratic Socialists of America who acknowledge his progressive platform while still criticizing his wealth. Despite his massive personal ad spend, his self-funded approach and billionaire status remain persistent hurdles with voters wary of plutocrats
Campaign contributors
Has raised over $133M, almost all of which is his own money. A list of contributors is available at transparencyusa.org.
