Hedge fund billionaire Tom Steyer spent $342 million on his own presidential campaign in the 2020 election, plus another $73 million supporting left-leaning causes and voter-registration efforts. This year, unsurprisingly, Steyer has donated far less, just $1.3 million, according to a review of Federal Election Commission data.
About three-quarters of that amount has gone to his own political action committee, Tom Steyer PAC. The PAC had raised $2.1 million and spent about one-third of its funds on payroll taxes through June this year, according to FEC data. Steyer gave another $250,000 to his climate-focused PAC, Nextgen Climate Committee.
He also gave $125,000 to the League of Conservation Voters super-PAC LCV Victory Fund in June, making him the second-largest individual donor to the committee this year, after fellow billionaire-turned-presidential-candidate Mike Bloomberg. Steyer also gave $5,800 to the campaign of Senate Minority Leader Chuck Schumer (D-NY).
Steyer tends to rank atop the list of largest Democratic donors every year. By Forbes’ tally, he and his wife Kat Taylor were the second-largest billionaire spenders of the 2020 election. He declined to comment on his spending plans for the 2022 midterm elections.