Tom Steyer hosts Obama at Democratic fundraiser

By Lawrence Delevingne

Thu Apr 4, 2013

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The recently retired Farallon founder is stepping up his political engagement.

  Tom Steyer (Photo: Bloomberg)

Newly retired, Tom Steyer is quickly increasing his political clout.

The founder of Farallon Capital Management and long-time environmentalist hosted President Barack Obama at a fundraiser for the Democratic Congressional Campaign Committee at his home in San Francisco last night, where 100 guests paid between $5,000 and $32,400 to attend, according to The New York Times.

"We've got more work to do in terms of dealing with climate change and making sure that we've got an economy that is energy-efficient, that is productive, that is cutting-edge, and thinks about not just the energy sources of the past, but also the energy promise of the future," Obama said at the event, according to a transcript released by the White House.

Despite the environmentally friendly comments, Obama is reportedly leaning toward approving construction of the Keystone XL oil pipeline. That would put him at odds with Steyer, who has been an outspoken critic of the plan for environmental reasons. Obama did not mention Keystone in his remarks, but called climate change politics "tough."

Steyer retired from $18.6 billion Farallon in 2012, completing a long-term succession plan that placed deputy Andrew Spokes in charge. He has been a major fundraiser for Obama and recently advocated for Washington to reduce the national debt and increased use of clean energy.

ISSN: 2151-1845 / CDC10004H

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