Billionaire Tom Steyer Drops Out Of Presidential Race

Billionaire Tom Steyer Drops Out Of Presidential Race

Tom Steyer announced he is dropping out of the 2020 presidential race Saturday night after South Carolina primary results indicated the billionaire would be leaving the state with zero delegates.

“There’s no question today that this campaign, we were disappointed with where we came out,” Steyer said to a room of his supporters in Columbia. “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.”

With 95 percent of votes reported, Steyer had garnered 11.4 percent, or just over 57,000 votes, in the pivotal primary state.

“When the Lord closes a door, he opens a window,” Steyer continued. “I will find that window and crawl through with you. I promise you that… This has been a great experience and I have zero regrets.”

Despite spending more than $260 million of his own money on the 2020 race, Steyer was polling at only 2.6 percent nationally, according to RealClearPolitics’ latest aggregate of polls. Steyer’s departure leaves former New York City Mayor Michael Bloomberg as the lone remaining billionaire in the race. Bloomberg, who was not on the South Carolina primary ballot, is polling at 16.4 percent nationally. After entering the presidential race late and skipping the early primary and caucus states of Iowa, New Hampshire, and Nevada, Bloomberg’s name will appear on the ballot for the first time Super Tuesday, March 3.

As the final South Carolina votes are tallied, former Vice President Joe Biden is coming out on top with a comfortable lead— 48.7 percent of the vote with 95 percent of the votes in— his first primary victory after notable under-performances in the other three early states. Vermont Sen. Bernie Sanders trails at 20 percent; former South Bend, Indiana, Mayor Pete Buttigieg at 8 percent; and Massachusetts Sen. Elizabeth Warren at 7 percent.

Kylee Zempel is an assistant editor at The Federalist. Follow her on Twitter @kyleezempel.
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