Tom Steyer


By Christopher Cadelago
01/22/2015 1:10 PM

Billionaire environmentalist Tom Steyer said Thursday he will not be a candidate to succeed U.S. Senate Barbara Boxer and instead will continue his focus on helping Democrats and working to reverse the effects of global climate change.

“Given the imperative of electing a Democratic president – along with my passion for our state, I believe my work right now should not be in our nation’s capital but here — at home in California, and in states around the country where change is on the move,” Steyer, a 57-year-old Democrat from San Francisco, wrote in an entry on The Huffington Post.

A former hedge fund manager worth an estimated $1.6 billion, Steyer has been a rising national presence for his sustained campaign against the Keystone XL oil pipeline and his position as an ideological and financial ballast to the billionaire conservative industrialists Charles and David H. Koch.

The Senate race could have presented Steyer an opportunity to make strides on what he considers the defining issue of this generation: climate change. His NextGen Climate and its related super PAC have won him influence in the national debate. His email list of registered California voters exceeds 1 million.

But he would have faced mounting critiques about his investments and political contributions.

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