Tom Steyer retains ties to coal-lending hedge fund Farallon Capital
Updated
Updated · The New York Times · May 5
Tom Steyer retains ties to coal-lending hedge fund Farallon Capital
14 articles · Updated · The New York Times · May 5
The New York Times said records show the California governor candidate kept financial links after stepping down as Farallon chief executive in 2012; Forbes recently estimated his wealth at $2.4 billion.
Steyer has said he left the firm to focus on climate activism, while his campaign says he asked Farallon to separate his money from fossil-fuel investments.
The issue has become a campaign flashpoint after Eric Swalwell's withdrawal elevated Steyer, as voters scrutinise billionaire influence despite backing from progressive groups including Bernie Sanders-founded Our Revolution.
Is a billionaire's pivot from hedge fund manager to activist a genuine change or a political strategy?
Can a climate champion lead a revolution while his wealth is tied to the coal industry?