Billionaire Tom Steyer put an end to his bid for the 2020 Democratic nomination Saturday after a less-than-stellar finish in South Carolina.
According to a report from the Associated Press, Steyer was set to announce his withdrawal from the primary just hours after the contest was called for former Vice President Joe Biden.
BREAKING: Billionaire activist Tom Steyer is ending his campaign for the Democratic presidential nomination after a disappointing finish in the South Carolina primary.#Election2020 #SCPrimary https://t.co/7JAeLo3TMa
— The Associated Press (@AP) March 1, 2020
Steyer took third in South Carolina — behind Biden and Independent Vermont Sen. Bernie Sanders — but that wasn’t enough to keep him in the race. (RELATED: Tom Steyer Promises $22 Minimum Wage After CBO Predicted $15 Would Cost 1.3 Million Jobs)
Speaking to a group of supporters in Columbia, South Carolina, Steyer conceded that he could no longer see a path forward. “There’s no question today that this campaign, we were disappointed with where we came out. But I said if I didn’t see a path to winning that I’d suspend my campaign, and honestly I can’t see a path where I can win the presidency.”
Steyer had just over 11% of the vote with 68% reporting. He has already poured millions into both his own presidential bid and his “Need to Impeach” ad campaign.