One billionaire out: Tom Steyer bows out of Democratic presidential race after 3rd-place finish in South Carolina

Billionaire activist Tom Steyer has given up on his presidential bid after failing to win any delegates in South Carolina, according to projections. Steyer has been accused of buying his way into the race, having spent millions.

Steyer dug deep into his own pockets, spending about $20 million of his own money in South Carolina alone in hopes of overcoming the 15-percent threshold that would have allowed him to win delegates in the fourth and final early voting contest before Super Tuesday.

However, it was not to be, as Steyer is now projected to win less than 12 percent of the vote in the primary, dominated by former Vice President Joe Biden.

“I can’t see a path where I can win the presidency,” Steyer said, announcing his decision to put an end to his campaign.

While the former hedge fund manager from California and avowed environmentalist drops out of the race, the other billionaire – former New York City Mayor Mike Bloomberg – remains in the race for the Democratic Party nomination, even though Super Tuesday will mark the first occasion he appears on any primary ballots.

While Steyer’s absence from the race is not likely to upset many Democrat voters (he was polling at about two percent nationwide), he did have one viral moment.

Hours before the South Carolina primary, Steyer’s name made headlines after he was filmed dancing enthusiastically alongside rapper Juvenile singing ‘Back That Azz Up’ during a campaign rally in Columbia, South Carolina.

However, the stunt, whether impromptu or not, apparently did not boost the billionaire’s chances, with some saying the “painfully embarrassing dance” just made it worse.

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