Billionaire Tom Steyer speaks at Campbell Hall

Tom Steyer, a billionaire, philanthropist, businessman and environmental advocate spoke to UC Santa Barbara students on Oct. 13 in Campbell Hall. Coastal Conversations, a student-led fireside chat series, hosted the event free of charge to students. 

Steyer unsuccessfully ran in the 2026 California gubernatorial primary, defeated by Democrat Xavier Becerra and Republican Steve Hilton. While addressing voter registration, Steyer asserted that young people’s votes are critical for the country to make progress. 

“[Politicians] are interested in votes, not people,” Steyer said. “It [is] really important for our society, and the people sitting in this audience, that many more young people voted so that we can get a fairer representation.”

Steyer spent 26 years as a San Francisco-based hedge fund manager before stepping down in 2012 to focus on philanthropy. In 2013, Steyer started NextGen America, a progressive political PAC (political action committee) to mobilize young people through voter registration, organization and education. 

Steyer also addressed the challenge of encouraging civic engagement with climate change.

“Climate is not something that people care to change their lives about because they care about the North Pole. They may care, but they’re not changing their life,” Steyer said. “They do care about how much it costs to insure their houses because they may get washed away in a storm.”

Third-year psychological & brain sciences student Jorby Camacho said he appreciated the opportunity to hear from a politician that has “such stature and importance in our democratic society.” Camacho said he voted for Steyer in the 2026 California gubernatorial primary.

During the chat, Steyer addressed affordability and potential solutions for the nationwide housing crisis.

“It is not right for working people to live full-time and have to live in their cars. You guys were telling me how much it costs to live here and go to school, in terms of rent. Are you kidding?” Steyer said. “Why don’t we use the things we know how to do now that we are completely different [from 100 years ago], so people can afford building houses again, so we can bring down the cost, [but] there’s a lot of political roadblocks to getting it done.” 

Additionally, Steyer discussed the economic incentive of shifting towards renewable sources for electricity, highlighting that Californians pay “twice as much” than average in the U.S.. 

“I’m a huge believer in people having the right to generate their own electricity off their roofs and stick it into their own houses. It costs two to four cents to generate electricity off your roof. There is a revolution happening here in terms of money,” Steyer said.

Host Ainsley Fields, a fourth-year English and history of public policy and law double major, brought up the high cost of living in Isla Vista and worsening living conditions due to coastal erosion. 

“Ultimately, if we’re not willing to basically get to net zero and start with this, then we can’t really win that fight with nature,” Steyer said.  “A bunch of people are making a bunch of money by selling stuff that pollutes, and they love it.”

Fourth-year film and media studies major Sofia Escalante said she attended the event to learn more about Steyer, despite not voting for him. “I knew nothing about Tom Steyer and wanted to learn more about him for my own educational purposes,” Escalante said. She added that she wished he answered a question about whether someone can “be an ethical politician” more clearly. 

A version of this article appeared on p. 1 of the Oct. 22 print edition of the Daily Nexus.