Tom Steyer, a liberal megadonor, announces he’s not running for president

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Tom Steyer (Sean Rayford/Getty Images)

In an announcement in Iowa on Jan. 9, Tom Steyer, a liberal megadonor and billionaire, said he is not running for president but plans to spend at least $40 million on efforts to impeach Donald Trump before 2020.

Steyer is known for his prominent giving to liberal and democratic causes, primarily through his organizations NextGen America and Need to Impeach.

Steyer, along with his wife Kathryn, is second in all-time lifetime political donations, which includes contributions to federal candidates, PACs and party committees as well as outside money groups and federal 527s. The couple has given more than $238.5 million as of Jan. 8, 2019.

During the 2014 cycle, the Steyers were the top federal individual contributors giving around $75.4 million to Democratic and liberal causes. In the 2016 election cycle, the Steyers were again the top federal individual donors with their contributions topping $91 million.

They ranked third in the 2018 midterms, behind Las Vegas Republicans Sheldon and Miriam Adelson and possible 2020 contender Michael Bloomberg, the former mayor of New York City, donating nearly $71 million to Democratic candidates and liberal groups. Steyer was one of the biggest Facebook advertisers of the 2018 midterms spending $1.7 million from May through Oct. 20 on Facebook ads for his Need to Impeach campaign. The Daily Beast reported that Steyer recently spent $6 million on TV ad buys in several early voting markets like Iowa, Nevada and South Carolina advocating for the impeachment of Donald Trump.

During the 2018 midterms, Steyer’s NextGen Climate Action top three supported races were the Nevada Senate race, where it spent almost $911,000; the Florida Senate race, where it spent more than $322,000; and the Arizona Senate race, where the group spent nearly $242,000. In each race NextGen supported the Democratic candidate.

In all, some 34 candidates saw NextGen spend money either for or against their campaigns in the 2018 cycle. Only one Democrat saw money spent against his candidacy by NextGen. The organization spent $25,000 against John Morganelli, a conservative Democrat who lost the primary for Pennsylvania’s 7th Congressional District.

Spending by Steyer regularly makes up the vast majority of spending from the environmental industry. In 2016 his spending accounted for 78 percent of donations from the industry, and in 2014 he made up 85 percent of the donations.

The founder of Farallon Capital Management, an investment firm, Steyer has been involved in political giving and fundraising for quite some time. He is one of the most staunchly liberal donors. According to no deposit bonus forex data, Steyer hasn’t given to a Republican since he gave Sen. John McCain (R-Ariz.) a $1,000 donation in 1999 during McCain’s unsuccessful 2000 presidential primary bid. Steyer was a major fundraiser for the failed 2000 presidential bid of former Sen. Bill Bradley (D-N.J.) and then for former Sen. John Kerry (D-Mass.) in 2004, and Hillary Clinton (D-N.Y.) and Barack Obama in 2008.

NextGen America, founded in 2013 as NextGen Climate, is described on its website as an organization that “acts politically to prevent climate disaster, promote prosperity, and protect the fundamental rights of every American.” NextGen’s Twitter bio states that it is “the largest youth vote program in American history.” Need to Impeach hosts a petition calling on Democrats to impeach President Trump. The site boasts more than 6.6 million signatures.

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