Politics | Billionaire candidate for California governor catching heat for past business interests, wealth by Seema Mehta, Nicole Nixon
Billionaire hedge fund founder turned environmental warrior Tom Steyer, a leading Democratic candidate for California governor, is facing mounting questions about how he earned his wealth — notably investments in private prisons that are now being used to house undocumented immigrants facing deportation. Some of the most vicious political attacks come from his Democratic rivals and Sacramento special interest groups as the June 2 primary election fast approaches, but Steyer has been dogged for years about his past, controversial business ventures and how they help fund his unbridled campaign spending. During a town hall in San Diego last week, activist Holly Taylor confronted him, screaming, “Tom, you’re not going to come to San Diego and ignore this detention center,” while holding signs with QR codes to help detainees at an Otay Mesa private prison that Steyer’s hedge fund backed, calling it a “concentration camp” where detainees “are drinking water out of a toilet.”
In 1986, Steyer co-founded Farallon Capital, which held shares valued at $89.1 million in the Corrections Corp. of America in 2005, according to SEC filings. That company, now known as CoreCivic, operates private prisons housing people detained by federal immigration agents, including the Otay Mesa facility. Steyer has repeatedly expressed regret, stating in 2019 that he “deeply regret[s] that Farallon made that investment” and personally ordered the stake sold because it “did not accord with my values then or now.” He said he left the hedge fund 14 years ago after realizing the business was taking him “to places I absolutely didn’t want to go,” describing it as a “big wake-up call” that led him to walk away from both the industry and a ton of money.
Despite his claims of reform, Steyer and his wife continue to receive significant income from the hedge fund, including millions in 2024 from investments, holdings, and complex transactions, as required by filings with the California Secretary of State’s office. His campaign says he has implemented guardrails to avoid profiting from morally disagreeable industries, donating any inadvertent gains to charity. Steyer has contributed nearly $112 million of his own money to his 2026 gubernatorial campaign, airing over 5,000 ads in the past month across California’s expensive media markets. While he has spent hundreds of millions on Democratic causes, especially climate change initiatives, critics argue his wealth — partly built on private prison and fossil fuel investments — undermines his progressive message, with rivals accusing him of building his campaign “on the backs of kids in cages.”
Hedge fund founder Tom Steyer, among the top Democrats running for governor who has spent more than $100 million of his money on his campaign, faces questions about how he made his wealth.
Dutzende Stars wie Madonna und Pedro Pascal fordern in einem offenen Brief die Schließung des Dilley Immigration Processing Center in Texas. Erfahren Sie alles über die Vorwürfe und den Protest gegen die Inhaftierung von Familien.
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San Diego County Sheriff’s officials failed to investigate at least seven reported sexual assaults at the privately run Otay Mesa immigration detention center in 2025, and records show the agency has ceded control of the cases to civilian administrators employed by the nation’s largest for-profit pr
I do not appreciate M Carney's approach on a lot of things. However, in this case there's nothing he can do to force the #USA to follow its own #law.
Mrs. Warner has, under #USLaw, every visa, permit, card, and right to be there, with her daughter and husband. She has been illegally detained by #ICE, #CBP, #DHS. The #Dilley detention is operated by #CoreCivic.
She has been given the opportunity to return to Canada with her daughter. She & her husband are fighting the detention.
ICE just added Leavenworth to its chain of detention islands. Blame a failure of moral leadership
By the time you read this, those swept up in ICE raids may already be filling some of the 1,000 beds at a troubled for-profit prison in Leavenworth now turned federal detention facility. The last hurdle for owner CoreCivic to reopen its site was a special use permit from the city of Leavenworth and, after […]
Activists say #CitizensBank helped arrange $2.5B in financing for #GEOGroup and #CoreCivic, the two largest companies operating ICE detention centers. Now customers and advocacy groups are pressuring the bank to cut those ties. #ICE #Banking
Over the past two years, Citizens Bank arranged roughly $2.5 billion in financing tied to GEO Group and CoreCivic, which operate many immigration detention f... https://instagr.am/p/DVyJHdIEVXI/
53 likes, 1 comments - voteinorout on March 12, 2026: "Activists say #CitizensBank helped arrange $2.5B in financing for #GEOGroup and #CoreCivic, the two largest companies operating ICE detention centers. Now customers and advocacy groups are pressuring the bank to cut those ties. #ICE #Banking Over the past two years, Citizens Bank arranged roughly $2.5 billion in financing tied to GEO Group and CoreCivic, which operate many immigration detention facilities used by ICE. Activists say public pressure previously led eight major U.S. banks to end relationships with private prison companies. On March 7, Citizens Bank declined requests from several customers asking to close accounts over the issue. More than 50 community organizations across New England are now urging the bank to end its financial ties to the companies. — Citizens Bank funds the expansion of ICE terror. In the last two years, Citizens has arranged $2.5 billion in financing to GEO and CoreCivic, the two largest companies running ICE detention centers. On March 7, Citizens refused to close the accounts of several concerned customers. In response to grassroots activists and shareholder pressure, eight of the country’s largest banks ended their relationships with these companies. Now, 50+ community groups in New England and beyond are pushing Citizens to do the same. Learn more at de-icecitizensbank.org Follow @brownriseup for more. Help this information get to more voters. 🇺🇸 A well-informed electorate is a prerequisite to Democracy.—Thomas Jefferson".
Leavenworth officials approve permit for CoreCivic to reopen prison after ‘agonizing’ yearlong fight
LEAVENWORTH — CoreCivic will reopen its private prison in Leavenworth to house immigration detainees after city commissioners approved the company’s special use permit on Tuesday, the result of a process one commissioner called “agonizing.” Two people were arrested and multiple people were ejected as they shouted profanity during an hour of public comments and 30 […]
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