Billionaire Tom Steyer has dropped out of the 2020 presidential race after failing to win any delegates in the South Carolina primary.
Steyer spent $20 million in the state in an attempt to gain traction for his failed presidential bid. He has spent nearly $200 million on his campaign since entering the race in July.
While he qualified for most of the Democratic debates, the billionaire struggled to get beyond 2% in national polling.
Steyer's decision comes after Joe Biden won a decisive victory in the South Carolina contest.