Billionaire Donor Tom Steyer Quits Finance for Philanthropy - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Billionaire Donor Tom Steyer Quits Finance for Philanthropy - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Billionaire Donor Tom Steyer Quits Finance for Philanthropy

October 23, 2012, 10:07 am

California hedge-fund billionaire Tom Steyer is leaving his $20-billion financial firm to devote himself to philanthropy and politics, according to Reuters.

Mr. Steyer announced his long-rumored decision in a letter to clients of Farallon Capital, the San Francisco-based investment house he founded in 1986 and built into one of the world’s largest hedge funds, saying, “Now it’s time to focus full-time on giving back.”