Steyer’s hidden fossil-fuel ties haunt California governor bid
TL;DR
Billionaire Tom Steyer faces renewed scrutiny over his links to Farallon Capital after reporting shows he never fully cut ties and remained a passive investor as the hedge fund financed coal projects, including in Australia. Steyer says he has removed fossil-fuel holdings and donates profits from any unintended exposure, but tax filings indicate Cayman-based funds and other foreign holdings. His net worth is around $2.4 billion, with Farallon stake declining from about $110 million during his 2020 bid to roughly $34.7 million more recently. The disclosures come as he gains ground in the California governor race, aided by his heavy campaign spending.
Topics:top-newspolitics#climate-action#coal-financing#farallon-capital#offshore-investments#politics#tom-steyer
- Hidden money trail comes back to haunt billionaire California governor candidate Tom Steyer New York Post
- A Climate Activist Wants to Run California. Coal Helped Fuel His Wealth. The New York Times
- Tom Steyer wins endorsement from former San Francisco Mayor Willie Brown San Francisco Chronicle
- How Tom Steyer's unexpected alliance with progressives vaulted him into the top tier of California's governor race NBC News
- Will Tom Steyer take a swing? Politico
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