>> when we return, tom steyer's paradise.ning this huge ranch, how is it different than running a hedge fund, a $20 billion hedge fund? ♪ >> the northern california coast is one of the most picturesque places in the united states, so it is no wonder this is where billionaire tom steyer spends his time. a few miles inland from the pacific is the 1,800 acre ranch steyer and his wife kathryn taylor bought in 2002. only an hour outside of san francisco, it's a world away. buying this ranch, was it your idea or your wife's idea? >> i think you can only blame my wife for that one. originally we bought it because the land had been so misused, you could dump stuff here if you paid them a fee. there had been a d.e.a. raid. they had people -- >> why? >> i think they were growing dope. >> oh. running this huge ranch, how is it different than running a hedge fund, a $20 billion hedge fund? >> i'll tell you how it's the same and how it's incredibly different. it's the same in the sense that you think this looks like an asset, but it's act

i'll be chatting with businessman turned environmental activist tom steyer.teyer was born and raised in the financial capital of the u.s., new york city, but chose to open his company, farallon, in san francisco. he founded farallon in 1986 with $8 million, and by the time he stepped down he turned the initial investment into $30 billion, making it the fourth-largest hedge fund in the world. his personal fortune is an estimated $2.6 billion.

. >> tom steyer is a san francisco-based hedge fund manager turned political activist with a missionmerican energy policy. >> as a nation, we don't just have to make the changes for ourselves. we have to lead the rest of the world. >> steyer has used his own wealth to support a green agenda across the nation. he believes the white house is on his side. >> the obama administration has been doing a great job on this for the last year. they have made it a priority. they're looking at it as a legacy issue. they're doing hard things in spite of what they think it might mean for them politically. >> the lsu professor thinks these might be costly if they're attached to democrats in states like louisiana. >> there does seem to be this hostility to oil and gas production per se that doesn't seem to make sense to me. the policy seems to me that they want middle class jobs, just not these middle class jobs. >> that's why in the louisiana senate race the leading republican, bill cassie, is trying to tie democrat mary landrieu to barack obama and his environmental policies. and it's why the senat

go outside of the official party mechanism to an individual donor/leader, operative type like tom steyerdavid coch and huge sources of money for the republicans. are they spending it everywhere this year and anything in particular that they're looking for? >> yeah, they are. the short answer to the part of the question, they are spending it everywhere. they are on pace to spend around $290 million through this vast network of nonprofits that they've set up. as well as the superpac, actually, a new sort of piece in their arsenal and going into all the contested senate races in a big way. even in some house races, even though a little bit less. what they said that they want is really fisccally conservative candidates that are more of the tea party mode than of the big establishment gop mold. however, they have increasingly become more associated with and evolve would the republican party. quite a far cry from where david koch was as the libertarian vice presidential candidate. they still do believe in libertarian causes. in some ways they own civil libertarian-type issues and drug reform,

looking ahead the governor has no concerns about getting help from steyer and next gen. >> this is notng to be an unfair debate. oil and gas industry has a few dollars to rub together. they will be able to get their message out across as well. >> reporter: well funded competing messages coming soon to voters across this state and around the country. alan, al jazerra, seattle. >>> some experts estimate up to $2 billion could be spent in outside money during this election season. >>> well, america's first name in online shopping reportedly plans to open a real store. the wall street journal says the first brick and mortar amazon store will open across the street from new york's empire state building. just in time for the holiday season. the journal says the store would work like a mini warehouse for same day deliveries in new york city and a place for shoppers to pick up online orders. amazon could also show off its own gadgets in the store like the kindle reader and fire smart phone. >>> well, elon musk is holding the world in suspension, a big surprise coming up just two hours from now

and the president, after a billionaire named tom steyer decided to spend tens of millions on campaigns, all of a backed offpresident of keystone pipeline. that's one good example. in can legislation washington create jobs? that's one. another one is, when paul ryan or six budget proposals, now, they're tough but they're real. when they just didn't do anything or go anywhere for five years, that the president was in charge of this country as the ceo and didn't budget in five years, that stifles job creation in country. obamacare is another example of jobs. losing small businesses closing up because they don't want to pay premiums. there are three examples of where a republican-controlled the difference. and i think it's important that we do that, not because of our party but because of our country. >> okay. well, thank you for your time here. >> you bet. you, everybody. i appreciate it. >> thank you for sharing your perspectives. certainly there are plenty of students here who will be say hello to you if you have a minute to shake hands. >> i do. perfect. >> and thank you again for comi

and the president, after a billionaire named tom steyer decided to spend tens of millions on campaigns, all of a backed offpresident of keystone pipeline. that's one good example. in can legislation washington create jobs? that's one. another one is, when paul ryan or six budget proposals, now, they're tough but they're real. when they just didn't do anything or go anywhere for five years, that the president was in charge of this country as the ceo and didn't budget in five years, that stifles job creation in country. obamacare is another example of jobs. losing small businesses closing up because they don't want to pay premiums. there are three examples of where a republican-controlled the difference. and i think it's important that we do that, not because of our party but because of our country. >> okay. well, thank you for your time here. >> you bet. you, everybody. i appreciate it. >> thank you for sharing your perspectives. certainly there are plenty of students here who will be say hello to you if you have a minute to shake hands. >> i do. perfect. >> and thank you again for comi

have the koch brothers, oil billionaires pouring a ton of money into the race and democrat side tom steyeria billion mare and putting the money into the ads and determining the message part of this is what voters are seeing a ton so they're being forced to think about it more. >> you go beyond the dollars and think of the working class in states like kentucky and west virginia, where many people depend on jobs in the coal industry as have been pro-coal. do you think the voter also overlook what we know about coal's effect on the environment since it's so important in the states? >> yes, in the red states and these coal states sort of the pro climate change, pro-energy, pro-environmental ad is not really what they're seeing. both sides actually even democrats saying i am for coal jobs, i'm for protecting coal miners. i think the message is a much more local coal focused one that is imperfevious to outside forc. >> the democrats are attacking republicans for science. the gop taken issue of what they call president obama's war on coal. so are we going to see this back and forth continue to pl