Tom Steyer

Tom Steyer has faced no criminal indictments, charges, or convictions. Public controversies surrounding his career center on his history as a hedge fund manager and his current campaign activities. Steyer founded Farallon Capital, which invested nearly $90 million in CoreCivic (formerly Corrections Corporation of America), a private prison operator, between 2004 and 2006. Steyer has characterized this as a mistake and stated he ordered the investment sold after receiving feedback. He sold his stake in Farallon in 2012. Critics have also noted Farallon’s past investments in fossil fuel projects. In his 2026 gubernatorial bid, Steyer faces scrutiny regarding his use of paid social media influencers, with one video currently under state investigation for failing to disclose financial backing as required by California law. His campaign maintains that disclosure was contractually required and that it remains in compliance. Additionally, critics have questioned whether his history of donations to progressive organizations influenced their endorsements of his campaign, though these groups have stated their endorsements were based on his policy record. His tax returns have revealed investments in offshore private equity funds domiciled in jurisdictions like the Cayman Islands and Bermuda, which Steyer has defended as standard legal structures for pooling international capital.