Early Life and Education
Thomas Fahr Steyer was born in New York City on June 27, 1957. He attended the Buckley School and Phillips Exeter Academy, where he was valedictorian of his class. Steyer graduated summa cum laude from Yale University with a degree in economics and political science and captained the soccer team. He later earned an MBA from Stanford Graduate School of Business, where he was an Arjay Miller Scholar.
Rise to Success
Steyer began his career at Morgan Stanley in 1979. He then worked at Goldman Sachs in the risk arbitrage division. In 1986, he founded Farallon Capital Management, a hedge fund that he grew into a $20 billion firm. Farallon Capital was known for taking high risks on distressed assets.
Key Business Strategies
Steyer's strategy at Farallon Capital focused on "absolute return"—the relentless pursuit of profits, regardless of market direction, with a strong emphasis on downside protection. From 1986 to the mid-2000s, Farallon generated returns of 16.7% annually net of fees.
Philanthropy
In 2010, Steyer and his wife, Kat Taylor, signed The Giving Pledge. They have donated to various causes, including establishing the Center for the Next Generation and providing funds to Yale and Stanford Universities for energy research. He founded NextGen America, a nonprofit focused on mobilizing young voters and advocating for progressive policies. Steyer's primary personal philanthropic vehicle is the TomKat Charitable Trust.