Tom Steyer facts for kids
Quick facts for kids
Tom Steyer
|
|
|---|---|
Steyer in 2020
|
|
| Born |
Thomas Fahr Steyer
June 27, 1957 Manhattan, New York, U.S.
|
| Education | Yale University (BA) Stanford University (MBA) |
| Occupation |
|
| Organization | NextGen America |
| Title | Co-executive chair of Galvanize Climate Solutions Founder of Farallon Capital Co-founder of Beneficial State Bank |
| Political party | Democratic |
| Spouse(s) |
Kat Taylor
(m. 1986) |
| Children | 4 |
| Family | Jim Steyer (brother) |
Thomas Fahr Steyer (born June 27, 1957) is an American businessman, investor, and activist. He is known for focusing on climate change and supporting environmental causes. Steyer founded Farallon Capital, a company that manages money for large organizations and wealthy people. He also helped start Beneficial State Bank, a bank that aims to help communities.
In 2010, Steyer and his wife, Kat Taylor, promised to give away half of their money to charity during their lives. After leaving Farallon Capital in 2012, Steyer started NextGen America. This group works to support ideas about climate change, healthcare, and education.
Steyer ran for president in 2020 as a Democrat. He spent a lot of money on his campaign but stopped running after the first few state elections. In 2021, he co-founded Galvanize Climate Solutions, a company that invests in businesses focused on climate solutions.
Contents
Early Life and School
Tom Steyer was born in Manhattan, New York. His mother was a teacher, and his father was a lawyer who worked on the Nuremberg Trials after World War II.
Steyer grew up in Manhattan. He went to the Buckley School and Phillips Exeter Academy, where he was the top student in his class. He then studied economics and political science at Yale University, graduating with high honors. He was also the captain of the Yale soccer team. Later, he earned his MBA from Stanford Graduate School of Business.
Career and Business Ventures
After college, Steyer started his career at Morgan Stanley in 1979. He later worked at Goldman Sachs, where he learned about mergers and acquisitions. He also became a partner at Hellman & Friedman, a private equity firm.
In 1986, Steyer founded Farallon Capital, a company that manages large amounts of money. By the time he left, Farallon was managing $20 billion. Steyer was known for taking calculated risks in changing markets.
In 2012, Steyer left Farallon Capital to focus on promoting clean energy. He decided to sell his investments in companies that caused carbon pollution. Some people criticized him, saying he did not sell these investments fast enough. They pointed out that some facilities he funded would continue polluting until 2030. After leaving Farallon, Steyer organized a meeting called the 'Big Think Climate Meeting' to discuss ways to fight climate change.
In 2020, the Governor of California, Gavin Newsom, chose Steyer to lead a group focused on helping California's economy recover after the COVID-19 pandemic. In May 2024, Steyer released his book, Cheaper, Faster, Better: How We'll Win the Climate War, which became a bestseller.
Helping Others (Philanthropy)
In 2006, Steyer and his wife, Kat Taylor, started OneRoof, Inc. This company aimed to bring internet access and computer skills to small towns in India and Mexico.
In 2007, Steyer and Taylor founded Beneficial State Bank. This bank helps businesses, non-profits, and people in California, Oregon, and Washington who might not get help from traditional banks. All the bank's profits are used to support local communities.
Steyer and Taylor also signed The Giving Pledge in 2010. This is a promise by wealthy people to give away at least half of their money to charity. In 2011, Steyer helped create Advanced Energy Economy, a group that researches and supports clean energy.
Steyer and Taylor also created the TomKat Ranch in California. This ranch is used to research and show how to farm in a way that helps the environment. In 2013, Steyer founded NextGen Climate, a group that works to support environmental causes and influence politics.
Political Involvement
Steyer has been involved in politics for many years. He helped raise money for presidential campaigns like Walter Mondale in 1983 and Barack Obama in 2008. He was also a delegate at the Democratic National Conventions in 2004 and 2008.
In 2010, Steyer worked with former Secretary of State George Shultz to oppose Proposition 23 in California. This measure would have stopped a law aimed at reducing greenhouse gases. Steyer donated $5 million, and the measure was defeated.
In 2012, Steyer was the main supporter of Proposition 39 in California. This measure aimed to make multi-state companies pay their taxes in California. Steyer contributed $29.6 million to the campaign.
Focus on Climate Change
Steyer has strongly opposed the Keystone Pipeline, which would carry oil from Canada to the U.S. He believes it would harm the environment. In 2013, he spoke at a large protest against the pipeline in Washington, D.C.
In 2013, Steyer founded NextGen America (originally NextGen Climate). This group uses its money and influence to support environmental causes. Steyer spent a lot of his own money on elections in 2014 to support candidates who cared about climate change.
In 2017, NextGen America gave grants to several groups that help immigrants. This included organizations that provide legal services for immigrants.
Trump Impeachment Campaign
Starting in 2017, Steyer spent about $10 million on TV ads asking for the impeachment of Donald Trump. He said that Trump had threatened news organizations and taken money from foreign governments. Steyer stepped down from leading this campaign in 2019 when he announced his presidential run.
2020 Presidential Campaign
| Tom Steyer | |
|---|---|
.svg){kind=logo} |
|
| Campaign | 2020 United States presidential election (Democratic Party primaries) |
| Candidate | Tom Steyer |
| Affiliation | Democratic Party |
| Status | Suspended |
| Launched | July 9, 2019 |
| Suspended | February 29, 2020 |
| Headquarters | San Francisco, California |
| Key people | Heather Hargreaves (campaign manager) |
| Receipts | US$206,286,970.59 (12/31/2019) |
| Slogan | Actions Speak Louder Than Words |
On July 9, 2019, Steyer announced he would run for the Democratic nomination for president in 2020. He spent millions of dollars on advertising.
Steyer participated in six televised debates. He did not win any delegates in the early state contests like Iowa, New Hampshire, or Nevada. He spent a lot of time and money in South Carolina but finished third there. After this, he ended his campaign on February 29, 2020.
Steyer spent over $253 million on his campaign, mostly from his own money. This was one of the highest spending campaigns among the Democratic candidates. After leaving the race, Steyer helped then-Vice President Joe Biden's team to encourage climate voters.
2024 Presidential Election
In 2023, Steyer hosted a fundraiser at his home in San Francisco to support President Joe Biden's re-election campaign.
Views on Important Issues
Environmental Protection
.jpg)
Steyer has been a strong voice against the Keystone Pipeline. He believes it would harm the environment. He also invested in companies that could be seen as rivals to the pipeline. He promised to sell all his fossil fuel investments.
In 2008, Steyer and his wife gave $41 million to create the TomKat Center for Sustainable Energy at Stanford University. This center works on developing affordable clean energy and promoting policies that make renewable energy more available.
In 2013, Steyer, along with former New York City mayor Michael Bloomberg and former Treasury Secretary Henry Paulson, started the Risky Business Project. This project studies and shares information about the economic dangers of climate change in the United States.
Healthcare
Steyer does not support a "Medicare for All" system, but he does believe in expanding healthcare coverage for more people.
Gun Safety
Steyer supports a ban on certain types of powerful weapons and wants to make sure everyone buying a gun goes through a background check.
Campaign Funding
Steyer has said he is against the Supreme Court decision in Citizens United v. FEC. This ruling allows companies and unions to spend unlimited money on political campaigns. He believes that too much money in politics can harm democracy.
Taxes
Steyer believes that taxes for wealthy people should be higher. He thinks that rich people in the United States have benefited too much, while working families have struggled. He supports a wealth tax for very rich individuals.
Five Key Rights
In 2018, Steyer outlined five important areas he believes Democrats should focus on. He called these "essential freedoms" for all Americans:
- The right to vote freely.
- The right to a clean environment.
- The right to a complete education.
- The right to earn a living wage.
- The right to good health.
Awards and Recognition
_(cropped).jpg)
Steyer has received several awards for his work on the environment. These include awards from Consumer Watchdog, the California League of Conservation Voters, and the Environmental Law Institute.
In 2015, he received the Humanitarian Award from Equality California for his work supporting progressive causes, including those that benefit the LGBT community.
Personal Life
In 1986, Tom Steyer married Kathryn Ann Taylor. They have four children: Samuel, Charles, Evelyn, and Henry.
Steyer has two brothers, Hume and Jim Steyer. Jim Steyer is also a lawyer, author, and professor at Stanford University.
Steyer is a very wealthy person, with a net worth of $1.6 billion. However, he is known for living a modest lifestyle. He drives an older hybrid car and does not wear expensive watches. He is known for wearing tartan neckties every day.
In his late 30s, Steyer became more interested in religion and joined the Episcopal Church. This new interest reportedly made him even more passionate about his political and environmental work.
Steyer lives in San Francisco, California.
See also
In Spanish: Tom Steyer para niños
