Clean Power Wind Field with Wind Turbines via Shutterstock

Published on October 30th, 2012 | by Adam Johnston


Billionaire Tom Steyer Aims to Push Clean Tech Agenda

October 30th, 2012 by  

Often, billionaires are associated with the fossil fuel industry. However, the trend seems to have been changing in recent years. From T. Boone Pickens investments in wind energy, to Bill Gates championing clean technology and Richard Branson’s passion for biofuels, the list is growing.

You can add another one to the list….

Meet Tom Steyer, a billionaire hedge fund manager, who is worth $1.3 billion. Recently, he announced he is leaving Farallon Capital. Steyer plans to devote more time towards both charitable and political causes, according to a Reuters article.

One of them is the upcoming Proposition 39 in California, which he helped put on the November ballot. If successful, the bill would look to stamp out loop holes that benefit out-of-state corporations in California. Under the new bill, if it passes, such companies would pay taxes based on sales within the state.

Proposition 39 would also put half of $1 billion raised from the new taxes into clean energy and energy efficiency jobs within the first five years.

Steyer, who has put an astonishing $21.9 million towards the proposal, believes it’s vital to rapidly moving off coal and towards a clean energy future:

His plan: “We immediately get off coal. We move to something that we actually can live with, and proves we can do it in a way that provides a ton of jobs, you know, improves our health, and sets us on a profitable path for the long-term, where we are not causing massive destruction.”

This is not the first time Steyer has been involved in environmental propositions. In 2010, he put $6 million against Proposition 23, which would have weakened greenhouse gas regulations in California.

More billionaires like Steyer in the clean energy arena is a good move, as this infant industry needs strong financial backing against the dirtiest players in the energy game.

Source: Reuters 
Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.


Tags: , , , , , , , , , ,

About the Author

Is currently studying at the School of the Environment Professional Development program in Renewable Energy from the University of Toronto. Adam graduated from the University of Winnipeg with a three-year B.A. combined major in Economics and Rhetoric, Writing & Communications. Adam also writes for Solar Love and also owns his own part time tax preparation business. His eventual goal is to be a cleantech policy analyst, and is currently sharpening his skills as a renewable energy writer. You can follow him on Twitter @adamjohnstonwpg or at

  • mds

    Thank you Mr Steyers! You are an American Hero!

  • earlrichards

    Texas oil corporations have been gouging Californians and the California economy for years, by charging excessively, high gasoline prices. It is time that these corporations started to give something back. The $1 billion should be spent by Californians in California. Vote “Yes” on Prop 39.

  • Look towards the future not the past….the tide will slowly shift…


Back to Top ↑
  • Advertisements

  • Top Posts & Pages

  • Cool Cleantech Events

    Low Voltage Electrification Event, April 25-27. Detroit, Michigan (US)
    Delve deep into the benefits and challenges associated with EV power supply.

    Offshore Wind Market Development USA, May 11-12, Boston, Massachusetts (US)
    Network and establish your business in one of North America’s largest energy industries.

    Energy Storage USA, June 15-16, San Diego, California (US)
    Only event in the United States focused exclusively on the commercialization of storage.

    More details are on: Cleantech Events.

  • Advertisement

  • CleanTechnica Electric Car Report

    Electric Cars Early Adopters First Followers
  • Tesla Model 3 Review by EVANNEX

    Tesla Model 3 Review from EVANNEX
  • Tesla Model 3 Exclusive Video

    Tesla Model 3 Video
  • Tesla Model 3 Exclusive Pictures

    Tesla Model 3 Video
  • Tesla Model X Review #1 (Video)

    Tesla Model X Review from new owners Zach Shahan
  • Tesla Model X Review #2 (Pictures)

    Tesla Model X Review from Kyle Field
  • Tesla Model S Long-Term Review

    Tesla Model S Long Term Review from Kyle Field
  • Nissan LEAF Long-Term Review

    Nissan LEAF Long Term Review from Cynthia Shahan
  • Interview with Michael Liebreich

    Interview with Michael Liebreich
  • Interview with Akon (Teslas & Solar)

    Interview with Akon Tesla Model S Tesla Model X Solar Power Africa
  • Interview with Dr Nawal Al-Hosany

    Interview with Dr Nawal Al-Hosany
  • Interview with Gro Brundtland

    Gro Brundtland
  • Interview with President of Iceland

    President of Iceland Ólafur Ragnar Grímsson
  • Interview with Nick Sampson

    Faraday Future VP Nick Sampson
  • Interview with Dipal Barua

    Dipal Barua 1st ZFEP WInner
  • Interview with Jonathon Porritt

    Jonathon Porritt
  • Interview with Clint Wilder

    Interview with Clint Wilder
  • Interviews with Solar Impulse Pilots

    Bertrand Piccard Andre Borschberg
  • Check out more CleanTechnica Videos.

  • Join The Solar Revolution!

    Edison-solar-energy solar-energy-spill-nice-day
  • Cost of Solar Panels

  • Search the IM Network