Billionaire former hedge fund manager and climate activist Tom Steyer is planning to drop as much as $100 million to promote environmental positions in the 2014 elections, according to The New York Times.
Steyer, a Democrat, has increasingly flexed his political muscle in the past year through his NextGen Climate Action PAC in hopes of compelling politicians to support policies that combat climate change. The Times characterized the effort as a counterweight to some of the deep-pocketed conservative groups that have played in other races in the wake of the Citizens United vs. Federal Election Commission Supreme Court ruling in 2010.
Recently, Steyer's San Francisco-based group asked supporters to choose from five Senate candidates to get hit with attack advertisements, which includes four Republicans and Sen. Mary Landrieu, D-La. Last year, it threw $11 million into the Virginia gubernatorial race to help send Democratic Gov. Terry McAuliffe to Richmond.
The organization also has weighed in against the Keystone XL oil sands pipeline, becoming one of the most visible in an apparatus of environmental and left-leaning groups that are pressuring the White House to nix the controversial Canada-to-Texas pipeline.