Billionaire will give $20 million for corporate tax hike initiative

From Sac Bee:

Billionaire hedge-fund manager Tom Steyer will donate $20 million toward an initiative that would raise $1 billion annually from multi-state corporations for green building projects and the state budget, proponents said today.

That brings Steyer’s contributions to $21.9 million so far in the campaign, one of the highest amounts ever by one individual for a California initiative effort. Steyer is an environmentalist who founded San Francisco-based Farallon Capital Management in 1986. Forbes magazine lists his net worth at $1.3 billion as of March.

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Photo courtesy of kenteegardin, flickr