Published On: Mon, Jan 12th, 2015

The Bucks (Start and) Stop With Tom Steyer As He Considers Senate Run

Farallon Capital Management Founder Tom Steyer Interview

 

Tom Steyer was the top financial backer of political candidates in the congressional elections, and instead of bankrolling this time around, he might actually do the job himself with a Senate run for the 2016 elections, according to CNBC. Steyer was by far the largest political donor in the recent congressional elections, and committed a whopping $73, 725, 000, with Michael Bloomberg at a distant second donating a measly $20, 011, 894. Given the overwhelming victory of the Republicans the last time around, the Democrat and environmental activist says he is eyeing Democratic Senator Barbara Boxer’s California seat, as she announced she would not be seeking re-election in 2016.

Steyer, a huge admirer of Boxer’s, wants to make sure the Senate seat remains in the hands of the Democrats, and seems to think he is the man to fill it. A person close to Steyer told CNBC, “My sense is that he will take a look and consider it over the next few days or so.” Other Democrats who could replace Boxer are Gavin Newsom, lieutenant governor, Kamala Harris, attorney general and LA Mayor Eric Garcetti.

Steyer spoke glowingly about Barbara Boxer’s political career, “Boxer has been a warrior for progressive causes–protecting our climate, championing the rights of women and children, and defending the core Democratic values of civil rights and economic equality for millions of Americans. We Californians have been very, very fortunate to have her representing us.”

Tom Steyer started NextGen Climate group after retiring from the hedge fund he founded, Farallon Capital Management in 2012. His reasons for leaving his hedge fund was that he felt the climate is the “defining issue of our generation, ” and he could not be involved in a business that has to consider every sector of the economy, including those in “fossil fuel-related industries … We have to be part of the solution, ” Steyer said.

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