Hedge fund manager Tom Steyer is contributing $100 million to his political action committee in a push to make climate change a key issue in this year's midterm elections.
Reuters reported that Steyer, who plans to spend $50 million of his own money and raise another $50 million from donors for the November midterm elections, hosted a fundraiser at his San Francisco home Wednesday night for seven Democratic lawmakers. The money will be used to target congressional and gubernatorial candidates in the 2014 election cycle who oppose efforts to curb global warming.
The 40-person dinner, paid for by the Democratic Senatorial Campaign Committee, raised more than $400,000.
Steyer founded San Francisco-based Farallon Capital Management in 1986. It manages about $19 billion in assets.