Officials investigating Biden’s vacation rental owned by billionaire climate investor Tom Steyer

Biden's billionaire friend and former Democratic candidate for president could face a fine if his property doesn't have proper permits.

By Addison Smith

Published: August 22, 2023 4:03pm

Billionaire climate activist Tom Steyer is being "actively" investigated by Nevada officials to determine whether he violated a housing law when the White House revealed the President Joe Biden was renting his $18 million Lake Tahoe mansion for his vacation, according to The Nevada Globe.

A screen-shotted email obtained by the newspaper shows a Douglas County official in charge of vacation home rental permits responding to a resident about "several" complaints regarding Biden's visit to the home, which he reportedly rented at fair market value.

County law reportedly states vacation homes must have a vacation home rental permit.

If Steyer fails to produce this permit, he reportedly could be fined $20,000 in civil fees.

Steyer is the founder and co-founder of financial institutions Farallon Capital and OneCalifornia Bank, respectively. He ran for president as a Democrat in 2020, and says on social media he's committed to "driving climate progress" through Galvanize Climate Solutions, for which he is a co-executive chairman.