History of Tom Steyer in Timeline

Tom Steyer is an American billionaire businessman, philanthropist, and environmentalist. He founded Farallon Capital and is known for his extensive climate-related advocacy and political contributions, particularly within the Democratic Party. Steyer gained further prominence through his 2020 campaign for President of the United States, where he focused on climate change and economic inequality. He has funded numerous initiatives aimed at promoting clean energy and combating climate change, establishing himself as a leading voice in environmental activism and political engagement.

Sections (3)

Full Timeline Early Life & Education Career & Achievements

June 27, 1957: Tom Steyer's Birth

On June 27, 1957, Thomas Fahr Steyer was born. He is an American billionaire businessman, philanthropist, and environmentalist.

1979: Start of Professional Career at Morgan Stanley

In 1979, after graduating from Yale, Tom Steyer began his professional career at Morgan Stanley.

1983: Tom Steyer Joins Goldman Sachs

In 1983, Tom Steyer joined Goldman Sachs as an associate in the risk arbitrage division, focusing on mergers and acquisitions.

1983: Work on Walter Mondale's Campaign

In 1983, Tom Steyer worked on Walter Mondale's presidential campaign.

1985: Tom Steyer's Tenure at Goldman Sachs Ends

In 1985, Tom Steyer's time at Goldman Sachs concluded.

January 1986: Farallon Capital Founded

In January 1986, Tom Steyer founded Farallon Capital, a hedge fund firm headquartered in San Francisco, with $15 million in seed capital.

August 1986: Steyer Marries Kathryn Ann Taylor

In August 1986, Tom Steyer married Kathryn Ann Taylor, a graduate of Harvard College with an MBA and JD from Stanford University. The wedding ceremony was performed by Reverend Richard Thayer and Rabbi Charles Familant. They have four children.

1987: Yale Endowment Allocation to Farallon

In 1987, Tom Steyer approached Yale University's endowment fund, eventually arranging for Farallon to manage an allocation of the Yale endowment for no fee.

2000: Fundraising for Bill Bradley

In 2000, Tom Steyer raised money for Bill Bradley.

2002: Farallon Buys Control of Bank Central Asia

In 2002, Farallon, under Tom Steyer, acquired control of Bank Central Asia (BCA), an Indonesian financial institution, for $531 million.

2004: Fundraising for John Kerry

In 2004, Tom Steyer raised money for John Kerry.

2004: Delegate to Democratic National Convention

In 2004, Tom Steyer served as a delegate to the Democratic National Convention.

2006: Farallon Sells Stake in Bank Central Asia

In 2006, Farallon sold its stake in Bank Central Asia (BCA) for a profit.

2006: Founding of OneRoof, Inc.

In 2006, Tom Steyer and his wife, Kat Taylor, founded OneRoof, Inc., a B Corp and social enterprise business designed to bring broadband connectivity, computer literacy, and employment skills via OneRoof Internet Centers to small rural towns in rural India and Mexico.

2006: California's Global Warming Solutions Act

In 2010, Tom Steyer co-chaired the No on Prop. 23 campaign, opposing an initiative backed by the Koch brothers that aimed to overturn California's Global Warming Solutions Act of 2006.

2007: Steyer joins the Stanford University board of trustees

In 2007, Steyer joined the board of trustees at Stanford University.

2007: Founding of Beneficial State Bank

In 2007, Tom Steyer and Kat Taylor founded Beneficial State Bank, a community development bank providing commercial banking services to underserved businesses, nonprofits, and individuals in the Bay Area, with operations now in California, Oregon, and Washington.

2008: Steyer and Taylor Create TomKat Center

In 2008, Tom Steyer and Kathryn Ann Taylor donated $41 million to establish the TomKat Center for Sustainable Energy at Stanford University. The center, part of the Precourt Institute of Energy, focuses on developing affordable renewable energy technologies and promoting public policies to increase the accessibility of renewable energy.

2008: Support for Barack Obama

In 2008, after initially supporting Hillary Clinton, Tom Steyer became one of Barack Obama's most prolific fundraisers.

August 2010: Signing onto The Giving Pledge

In August 2010, Tom Steyer and his wife signed onto The Giving Pledge, an initiative of Bill Gates and Warren Buffett.

2010: Co-chair of No on Prop. 23 Campaign

In 2010, Tom Steyer co-chaired the No on Prop. 23 campaign with George Shultz, opposing an initiative backed by the Koch brothers that aimed to overturn California's Global Warming Solutions Act of 2006.

2011: Steyer Joins Next Generation Board

Around 2011, Tom Steyer joined the board of Next Generation, a nonprofit focused on children's issues and the environment.

2011: Founding of Advanced Energy Economy

In 2011, Tom Steyer founded Advanced Energy Economy, an energy research and lobbying group, with Hemant Taneja.

2011: Steyer Receives Phillip Burton Public Service Award

In 2011, Tom Steyer received the Phillip Burton Public Service Award of Consumer Watchdog.

October 2012: Steyer Steps Down from Farallon

In October 2012, Tom Steyer stepped down from his position at Farallon to focus on advocating for alternative energy.

2012: Departure from Farallon Capital

In 2012, Tom Steyer departed from Farallon Capital to focus on climate action advocacy, subsequently founding NextGen America.

2012: Speech at Democratic National Convention

In 2012, Tom Steyer gave a speech at the Democratic National Convention, contrasting the energy policies of the Democratic and Republican parties.

2012: Fundraiser for President Obama

In 2012, Tom Steyer hosted a fundraiser for President Obama, where he and other donors pressed Obama about the Keystone pipeline, which Steyer opposed.

2012: Steyer Receives Environmental Leadership Award

In 2012, Tom Steyer received the Environmental Leadership Award from the California League of Conservation Voters.

2012: Sponsorship of Proposition 39

In 2012, Tom Steyer was the leading sponsor of California's Proposition 39, aimed at closing a tax loophole for multi-state corporations and allocating funds to clean energy projects and the state's general fund.

February 2013: Anti-Keystone XL Pipeline Rally

In February 2013, Tom Steyer spoke at an anti-Keystone XL Pipeline rally on the Washington Mall. He was dissuaded from being arrested at the protest by his brother Jim.

September 2013: Steyer Appears in Anti-Pipeline Commercials

In September 2013, Tom Steyer appeared in a series of commercials opposing the proposed Keystone pipeline.

October 2013: Steyer Launches Risky Business Project

In October 2013, Tom Steyer, along with Michael Bloomberg and Henry Paulson, launched the Risky Business Project, a bipartisan initiative aimed at quantifying and publicizing the economic risks of climate change in the United States. Bloomberg, Paulson, and Steyer serve as co-chairs of the project.

2013: Founding of NextGen Climate

In 2013, Tom Steyer founded NextGen Climate (now NextGen America), an environmental advocacy nonprofit and political action committee.

2013: Supporting Ed Markey's Senate Election

In 2013, Tom Steyer helped elect Ed Markey to the Senate in a special election, spending $1.8 million attacking Stephen Lynch, including flying a banner over a Boston Red Sox game.

2013: Steyer Receives Environmental Achievement Award

In 2013, Tom Steyer received the Environmental Achievement Award from the Environmental Law Institute.

2013: Support for Terry McAuliffe's Campaign

In 2013, Tom Steyer supported Democrat Terry McAuliffe's successful campaign for governor of Virginia through NextGen Climate Action.

June 2014: Steyer to Target California Legislative Races

In June 2014, Tom Steyer announced his plans to engage in California legislative races, targeting three to four races in each house of the Legislature to influence climate change policy. It was also reported in June 2014 that Steyer had become the single largest donor in American politics and a leading advocate for environmental issues.

June 2014: Risky Business Project Publishes National Report

In June 2014, the Risky Business Project, co-chaired by Tom Steyer, released its National Report, quantifying the economic risks of climate change in the United States.

November 2014: Steyer on Investing in Elections

In a November 2014 interview, Tom Steyer explained his preference for investing in elections rather than philanthropic organizations. He stated that the price of inaction was too high. He also expressed his opposition to the 2010 Supreme Court decision in Citizens United v. FEC.

2014: Funding Political Campaigns

In 2014, Tom Steyer funded political campaigns through NextGen Climate to advocate for the election of at least nine candidates and influence climate change policy.

2014: Spending on 2014 Elections

In 2014, Tom Steyer spent almost $74 million on the elections through NextGen Climate.

2014: Steyer Spent Millions in Midterm Elections

In 2014, Tom Steyer spent approximately $67 million of his personal funds in the midterm elections. His success rate was 40%. Out of the seven Senate and gubernatorial candidates supported by NextGen Climate, three emerged victorious in their respective races in 2014.

2014: NY Times Article on Coal Production

In 2014, a New York Times article reported that coal-mining companies invested in by Farallon under Steyer increased their coal production by 70 million tons annually since receiving money from Farallon.

January 2015: Risky Business Project Releases Midwest Report

In January 2015, the Risky Business Project, co-chaired by Tom Steyer, issued its Midwest Report, detailing the economic risks of climate change in the Midwestern United States.

April 2015: Steyer Testifies in Favor of Greenhouse-Gas Reduction Bill

In April 2015, Tom Steyer testified before the California Legislature, advocating for a bill focused on the reduction of greenhouse-gas emissions.

April 2015: Risky Business Project Issues California Report

In April 2015, the Risky Business Project, co-chaired by Tom Steyer, released its California Report, outlining the economic risks of climate change specific to California.

July 2015: Steyer Calls for Clean Energy Plans From 2016 Candidates

In July 2015, Tom Steyer urged the 2016 presidential candidates to create strategic plans aimed at providing the United States with at least 50% of its energy from clean sources by 2030. The message was reportedly aimed at Hillary Clinton, who had not yet outlined an environmental policy.

August 2015: Launch of Fair Shake Commission

In August 2015, Tom Steyer launched the Fair Shake Commission on Income Inequality and Middle Class Opportunity, advocating for policies to promote income equality.

August 2015: Steyer Discusses Gasoline Use Reduction Bills

In August 2015, Tom Steyer was the guest of honor at the California Democratic Party headquarters, where he discussed bills aimed at cutting gasoline use in half by 2030. However, Steyer did not commit to spending significant funds to support these bills.

2015: Steyer Joins Breakthrough Energy Coalition

In 2015, Tom Steyer joined the Bill Gates-led Breakthrough Energy Coalition, which seeks to accelerate the demand and availability of green energy sources.

2015: Steyer Receives Land Conservation Award

In 2015, Tom Steyer received the Land Conservation Award from the Open Space Institute.

2015: Steyer Receives Equality California's Humanitarian Award

In 2015, Tom Steyer was honored with Equality California's Humanitarian Award "for his work advancing progressive causes that benefit the LGBT community."

2016: Co-chair of Proposition 56 Campaign

In 2016, Tom Steyer co-chaired the campaign in support of California's Proposition 56, which raised the state's tobacco tax by $2 per pack to fund healthcare programs and tobacco-use prevention.

2016: Steyer Raises Money for Hillary Clinton

In 2016, Tom Steyer raised funds for Hillary Clinton and hosted a fundraiser at his home in Burlingame. He contributed $87,057,853 exclusively to Democratic Party candidates during the 2016 election cycle.

2016: Farallon's Investment in Private Prisons

In 2016, critics noted that Farallon had invested in private prisons while Steyer was leading the hedge fund.

2016: Focus on Florida Elections

Tom Steyer cited Florida's pivotal role in the 2016 presidential election and its vulnerability to climate change as reasons for focusing on the state.

October 2017: Steyer Launches Impeachment Ad Campaign Against Trump

Beginning in October 2017, Tom Steyer launched a television ad campaign, spending approximately $10 million, to advocate for the impeachment of Donald Trump. He also invested in a digital ad campaign calling for Trump's impeachment. In the ad, Steyer identified himself as an "American citizen" and accused Trump of various offenses. In response, Trump called Steyer "wacky and totally unhinged" in October 2017.

October 2017: NextGen America Donates to Immigration Law Organizations

In October 2017, NextGen America donated grants totaling $2.3-million to eight national immigration law service organizations.

October 2017: Steyer Favors Raising Personal Taxes

In an interview in October 2017, Tom Steyer stated that he supported raising personal taxes, arguing that upper-income individuals in the United States had disproportionately benefited at the expense of working families. He described one version of a 2017 Republican tax reform proposal as a "thinly veiled reverse Robin Hood".

2017: Steyer steps down from the Stanford University board of trustees

In 2017, Steyer stepped down from his role on the board of trustees at Stanford University, which he joined in 2007.

January 2018: Steyer Announces He Will Not Run for Governor of California

In January 2018, Tom Steyer announced that he would not be running for governor of California, despite considering it.

March 2018: Steyer Launches Town Hall Tour

In March 2018, Tom Steyer launched a 30-city town hall tour related to the Need to Impeach campaign. By the fall election season of 2018, the campaign had gathered close to 6 million petition signatures.

November 2018: Steyer Outlines Campaign Issues for Democrats

In a full-page ad in USA Today in November 2018, Tom Steyer outlined five non-partisan issue areas that he believed Democrats should campaign on. These included voting rights protections, a clean environment, a complete education, a living wage, and good health, which he stated represented essential freedoms for all Americans.

July 9, 2019: Steyer Launches Presidential Campaign

On July 9, 2019, Tom Steyer officially launched his campaign for the Democratic presidential nomination through an online campaign video posted to Twitter. As a self-funded candidate, he pledged to spend millions on campaign advertising.

July 2019: Steyer Steps Down to Launch Presidential Campaign

In July 2019, Tom Steyer stepped down from his position as president of Need to Impeach to announce his presidential campaign. As of July 2019, he had reportedly spent over $70 million on the Need to Impeach effort. He announced that Need to Impeach would continue under the new leadership of Nathaly Arriola.

2019: 2019 Coronavirus Pandemic

In April 2020, Tom Steyer was selected to chair a task force in response to the 2019 Coronavirus pandemic.

February 2020: Withdrawal from 2020 Presidential Race

In February 2020, after spending $253 million, Tom Steyer withdrew from the Democratic presidential race without gaining any pledged delegates.

February 29, 2020: Steyer Finishes Third in South Carolina Primary, Suspends Campaign

On February 29, 2020, Tom Steyer finished third in the South Carolina Democratic primary with 11% of the vote and no pledged delegates, behind Joe Biden and Bernie Sanders. Following this result in the South Carolina primary, Steyer announced that he would suspend his presidential campaign.

April 2020: Steyer Chairs California Task Force

In April 2020, California Governor Gavin Newsom selected Tom Steyer to chair a task force focused on the state's economic recovery after the 2019–20 coronavirus pandemic.

2020: Steyer Opposed Medicare for All

During his 2020 Democratic presidential primary campaign, Tom Steyer opposed Medicare for All. His campaign even ran ads against progressive candidate Sen. Bernie Sanders' proposed Single-payer healthcare plan.

2020: 2020 Presidential Campaign

In 2020, Tom Steyer ran for the Democratic nomination for president of the United States, spending $253 million on his campaign. He withdrew from the race in February 2020 without securing any pledged delegates.

2020: Steyer Spent Over $253 Million on Presidential Campaign

Tom Steyer spent over $253 million on his 2020 presidential campaign, with nearly $250 million coming from his personal funds. He spent $3,373 for every vote he received in the three primaries he participated in before dropping out of the race. His spending surpassed that of every other Democratic candidate except Michael Bloomberg during his time as a candidate in 2020.

2021: Co-founding Galvanize Climate Solutions

In 2021, Tom Steyer co-founded Galvanize Climate Solutions, a climate-focused investment firm, with Katie Hall.

2023: Steyer Hosts Fundraiser for Biden

In 2023, Tom Steyer hosted a fundraiser at his home in San Francisco for President Joe Biden's re-election bid for the White House.

May 28, 2024: Publication of "Cheaper, Faster, Better" Book

On May 28, 2024, Spiegel & Grau published Tom Steyer's book, "Cheaper, Faster, Better: How We'll Win the Climate War".

2024: Publication of "Cheaper, Faster, Better"

In 2024, Steyer's book, "Cheaper, Faster, Better: How We'll Win the Climate War", appeared on The New York Times Best Seller list.

November 2025: Steyer Enters 2026 California Gubernatorial Race

In November 2025, Tom Steyer entered the 2026 race to succeed Gavin Newsom as Governor of California. Newsom is term-limited. Steyer presented himself as an outsider focused on affordability.

December 2025: Steyer Reverses Position on Single-Payer Healthcare

In December 2025, Tom Steyer reversed his previous opposition to single-payer healthcare. He posted a video to social media stating that he was "wrong" to oppose it, saying "Bernie Sanders was right" and that after reviewing the data he realized it was the best choice.

2025: Announcement of Gubernatorial Candidacy

In 2025, Tom Steyer announced his candidacy for the 2026 California gubernatorial election, aiming to succeed Gavin Newsom.

2025: Donation to Proposition 50 Campaign

In 2025, Tom Steyer donated $12 million to become the largest contributor to the campaign for California's Proposition 50, which redrew California's congressional districts.

March 2026: Steyer Petitions to Disqualify Eric Swalwell From Governor's Race

In March 2026, Tom Steyer's campaign petitioned the California Secretary of State to disqualify Eric Swalwell from running in the governor's race. Steyer argued that Swalwell is not a California resident and is domiciled in Washington, D.C.

2026: California Gubernatorial Election

In 2026, Tom Steyer will be a candidate in the California gubernatorial election, hoping to succeed Gavin Newsom.

2030: Lifespan of Funded Facilities Extends Through 2030

Critics noted that in 2012, when Steyer decided to dispose of his carbon-polluting investments, the lifespan of the facilities he funded would extend through 2030.

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