Steyer, who was born into a wealthy family, attended Phillips Exeter Academy and then Yale Universitywhere he studied economics and political science and served as captain of the soccer team. After graduating inhe worked for Morgan Stanley before earning an M. Steyer later joined Goldman Sachs, where he became known for his aggressive investments. He left the company in to create Farallon Capital Management; the hedge fund was named for a group of islands near San Francisco that were known for their shark-infested waters. According to some reports, the backlash led Steyer to become increasingly involved in climate-change efforts. Already a supporter of the Democratic Party monry, he also became more active in political causes.