>> when we return, tom steyer's paradise.ng 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. [laughter] 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. [laughter] running this huge ranch, how is it different than running a hedge fund, a $20 billion hedge fund? [laughter] >> 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 lo