Billionaire Tom Steyer announced Saturday that he is quitting the Democratic nomination race after disappointing results despite the millions of dollars he has invested in his campaign.
The former 62-year-old investment fund manager came third in the South Carolina primary won by Joe Biden after spending more than $ 20 million and campaigning intensely in the southern state. "We were disappointed with our result," admitted Tom Steyer to his supporters. "I said that if I didn't see a way to victory, I would end my candidacy. However, I don't see a way to win the presidency ”.
Seven candidates remain in the running
Committed to the fight against climate change and a great critic of Republican President Donald Trump, Tom Steyer has gobbled up more than $ 130 million in television commercials for his campaign in the first four states that voted for the Democratic primaries, according to the Washington Post . In particular, he had spent more than $ 18 million in New Hampshire, three times more than the winner Bernie Sanders, only to collect some 10,700 votes (3.6%).
In South Carolina, he had received the support of local personalities and made himself known through a field campaign. He had particularly targeted black people, who represent more than half of the democratic voters in this state, by promising to compensate the descendants of slaves and to invest in historically marginalized black communities and universities.
After his departure, seven candidates remain in contention to win the Democratic nomination and challenge Donald Trump in November. Among them, another billionaire, Michael Bloomberg, ninth richest man in the world in 2019, has already broken all records by spending more than 500 million dollars of his personal fortune on television and radio spots, but also in digital advertisements since the launch of its campaign on November 25, according to the company Adverstising Analytics.
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