Early Life and Education
Thomas Fahr Steyer was born on June 27, 1957, in New York City. He attended Phillips Exeter Academy and later Yale University, where he studied economics and political science and served as captain of the soccer team. He graduated summa cum laude from Yale in 1979. After college, he worked for Morgan Stanley. He then earned an MBA from Stanford University in 1983.
Rise to Success
Steyer's business career began with stints at Goldman Sachs and Hellman & Friedman. In 1986, he founded Farallon Capital Management, a hedge fund firm, and built it into a major financial entity. Farallon Capital Management, which became known for taking high risks on distressed assets, managed $20 billion by the time Steyer left the company.
Key Business Strategies
Farallon Capital Management was known for investments in merger arbitrage, real estate, and credit. Steyer was known for taking high risks on distressed assets within volatile markets. Steyer's firm also invested in educational institutions, including Yale. He also co-founded OneCalifornia Bank, which later became Beneficial State Bank.
Political and Philanthropic Ventures
In 2012, Steyer retired from Farallon to focus on political and environmental causes. He founded NextGen America, a non-profit supporting progressive policies. He has been a major donor to Democratic and environmental causes. Steyer co-chaired several ballot campaigns and ran for the Democratic nomination for president in 2020, spending a considerable amount of his own money. He has also been involved in campaigns to impeach former President Donald Trump. More recently, Steyer announced a campaign for Governor of California in 2026, focusing on affordability.
