Thomas Fahr Steyer, born June 27, 1957, is an American hedge fund manager, philanthropist, environmentalist, political activist, and former candidate for the Democratic nomination for President of the United States in the 2020 election. Steyer is best known as the founder of Farallon Capital, a global investment management firm, and for his subsequent involvement in environmental and political causes.
Here are some key aspects of Thomas Steyer's life and career in detail:
- Early life and education: Thomas Steyer was born in Manhattan, New York City. He comes from a well-educated family, with his father being a partner at the prestigious law firm Sullivan & Cromwell, and his mother being a teacher and a school administrator. Steyer attended the elite Phillips Exeter Academy and later earned a Bachelor's degree in Economics and Political Science from Yale University. He then obtained an MBA from Stanford Graduate School of Business.
- Farallon Capital: In 1986, Steyer founded Farallon Capital Management, a global investment management firm specializing in credit, real estate, value, and event-driven investing strategies. Under his leadership, Farallon Capital grew to become one of the largest and most successful hedge funds globally, with billions of dollars in assets under management.
- Departure from Farallon Capital: Steyer left Farallon Capital in 2012 to focus on environmental and political causes, motivated by concerns about climate change and income inequality. He sold his stake in the company and committed to using his wealth to support these issues.
- Philanthropy and environmental activism: Steyer, along with his wife Kat Taylor, has been actively involved in philanthropy, supporting various charitable causes, particularly in education and the environment. The couple signed the Giving Pledge, committing to donate the majority of their wealth to charitable causes during their lifetimes. Steyer is also the founder of NextGen America (formerly NextGen Climate), a nonprofit organization focusing on environmental advocacy, voter registration, and political activism.
- Political activism: Steyer has been a significant donor to Democratic candidates and causes. He has funded and led several political campaigns, including a high-profile effort to impeach President Donald Trump. In July 2019, Steyer announced his candidacy for the Democratic nomination for President of the United States in the 2020 election. However, he suspended his campaign in February 2020 after failing to gain substantial traction in the primaries.
- Personal life: Steyer is married to Kat Taylor, who is also actively involved in philanthropy and environmental causes. The couple has four children. Taylor is the CEO and co-founder of Beneficial State Bank, a socially responsible bank based in California.
In summary, Thomas Steyer is an American hedge fund manager, philanthropist, environmentalist, and political activist, best known as the founder of Farallon Capital and for his involvement in various environmental and political causes. After leaving Farallon Capital in 2012, Steyer has dedicated his time and resources to philanthropy, environmental advocacy, and political activism, including a run for the Democratic nomination for President of the United States in the 2020 election.
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