Early Life and Education
Thomas Fahr Steyer was born on June 27, 1957, in New York City. His father was a partner in the law firm Sullivan & Cromwell, and his mother was a teacher. Steyer attended the Buckley School and Phillips Exeter Academy. He graduated summa cum laude from Yale University with degrees in economics and political science and earned an MBA from Stanford Graduate School of Business.
Rise to Success
Steyer began his professional career at Morgan Stanley in 1979. He then worked at Goldman Sachs from 1983 to 1985 in risk arbitrage before founding Farallon Capital Management in 1986. Under his leadership, Farallon became a prominent hedge fund, managing $20 billion by the time Steyer left the company in 2012. He was known for taking high risks on distressed assets within volatile markets.
Key Business Strategies
Steyer's success at Farallon was built on a strategy of identifying and capitalizing on opportunities in distressed assets, which helped deliver significant returns. He was also known for his ability to build a strong network of financial connections. Steyer was involved in mergers and acquisitions early in his career. His work in risk arbitrage allowed him to develop expertise in identifying profitable opportunities.
Philanthropy and Political Activity
After leaving Farallon in 2012, Steyer transitioned to climate activism and political involvement. He founded NextGen America in 2013, which focuses on mobilizing young voters on issues including climate change and healthcare. He has also been a major donor to Democratic candidates and environmental causes, contributing significantly to political campaigns and initiatives. In 2020, Steyer ran for the Democratic nomination for president, spending over $253 million. He is also involved in the TomKat Foundation, which supports climate stability and a healthy food system.