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Steyer’s Farallon Fund Still Fuels Coal Amid Climate Run

5/5/2026

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Summary

Story summary

Farallon Capital, founded by Tom Steyer, continues to finance coal despite his climate-action campaign.
Steyer, a billionaire former hedge-fund manager, is a leading Democratic contender for governor of California.
He left Farallon as chief executive in 2012 without ever fully severing ties.
His campaign says he asked Farallon to separate his personal funds from fossil-fuel investments, though holdings remain unclear.

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Story summary

Farallon Capital, founded by Tom Steyer, continues to finance coal despite his climate-action campaign.
Steyer, a billionaire former hedge-fund manager, is a leading Democratic contender for governor of California.
He left Farallon as chief executive in 2012 without ever fully severing ties.
His campaign says he asked Farallon to separate his personal funds from fossil-fuel investments, though holdings remain unclear.