Tom Steyer
Tom Steyer, billionaire activist, former 2020 Democratic presidential candidate and co-chair of impact investor Galvanize Climate Solutions, will take a leave of absence to run for governor of California, the firm announced Wednesday.
Steyer formed Galvanize in 2021 with Katie Hall. The firm aims to make climate- and sustainability-based investments across asset classes. Former U.S. Secretary of State John Kerry also co-chairs the firm’s board.
“Built for the long term, Galvanize continues its growth trajectory led by CEO and Co-Chair Katie Hall, alongside Co-Chair Sec. John Kerry and a seasoned leadership team across its platform and investment strategies,” read an announcement issued by Galvanize on Wednesday. “Together, these leaders bring decades of investment and operating expertise across asset classes and sectors.”
Steyer, in a social media post on Wednesday, announced his candidacy to succeed term-limited California Governor Gavin Newsom. Steyer previously sought the 2020 Democratic nomination for president. A New York native, Steyer attended graduate school in California at Stanford University. He founded multi-strategy hedge fund Farallon Capital in San Francisco in 1986 and retired in 2012.
“Tom remains a significant investor in Galvanize and its strategies, continuing the long-term financial commitment he and his partner Kat Taylor have made since inception,” Galvanize stated.
A poll published last week by the Institute of Governmental Studies at the University of California, Berkeley, included 10 other candidates for California governor: eight Democrats and two Republicans.
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