Billionaire hedge fund founder Tom Steyer is running for governor

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Billionaire hedge fund founder Tom Steyer announced Wednesday that he is running for governor of California, arguing that he is not beholden to special interests and can take on corporations that are making life unaffordable in the state.“The richest people in America think that they earned everything themselves.Bulls—, man.

That’s so ridiculous,” Steyer said in an online video announcing his campaign.“We have a broken government.

It’s been bought by corporations and my question is: Who do you think is going to change that? Sacramento politicians are afraid to change up this system.I’m not.

They’re going to hate this.Bring it on.”Steyer, 68, founded Farallon Capital Management, one of the nation’s largest hedge funds, and left it in 2012 after 26 years.

Since his departure, he has become a global environmental activist and a major donor to Democratic candidates and causes.But the hedge firm’s investments — notably a giant coal mine in Australia that cleared 3,700 acres of koala habitat and a company that runs migrant detention centers on the U.S.-Mexico border for U.S.

Immigration and Customs Enforcement — will make him susceptible to political attack by his gubernatorial rivals.Politics When Tom Steyer was running a hedge fund in 2000, he wrote a letter telling some wealthy investors their money would soon flow through an offshore company that would shield their gains from U.S.

taxes.Steyer has expressed regret for his involvement in such projects, saying it was why he left Farallon and started focusing his energy on fighting climate change.Steyer previously flirted with running for governor and the U.S.

Senate but decided against it, instead opting to run for president in 2020.He dropped out after spending nearly $342 million on his campaign, which gained little traction before he ended his run after the South Carolina primary.Next year’s gub...