Tom Steyer drops out of the 2020 presidential race
- Billionaire former hedge fund manager and liberal activist Tom Steyer dropped out of the 2020 Democratic primary after a disappointing finish in the February 29 South Carolina primary.
- Despite spending $150 million on ads in early states, Steyer failed to earn any delegates at all or break more than 4% of the vote in Iowa, New Hampshire, or Nevada.
- Steyer also failed to meet the 15% minimum threshold to earn statewide delegates in South Carolina.
- Visit Business Insider's homepage for more stories.
Billionaire former hedge fund manager and liberal activist Tom Steyer dropped out of the 2020 Democratic primary after a disappointing finish in the February 29 South Carolina primary, MSNBC reports.Steyer quit the race after coming in third place in South Carolina with about 11% of the vote, failing to meet the 15% minimum threshold to earn statewide delegates. Advertisement
President Donald Trump, and NextGen America, a group combatting climate change and backing political candidates who support strong climate action.
In a video announcing his candidacy, Steyer denounced the role of corporate money in
Sources close to him also told The Atlantic that Steyer, who is 62 and based in San Francisco, thought that a longshot presidential bid could be his only chance to run for political office.Another person close to Steyer similarly told The Washington Post that Steyer didn't feel completely confident in the field of Democrats seeking the 2020 nomination and thought his successful record as a businessman can give him an edge in the field. But Steyer ultimately failed to carve out a unique niche for himself in the race and earn much traction. While he positioned himself as a progressive, he was squeezed out of that lane of the primary by Sens. Bernie Sanders and Elizabeth Warren, who both ran on a platform of curtailing the economic and political power of billionaires like him. Advertisement
Despite going all-in on early states and spending $150 million on ads, Steyer failed to earn any delegates at all or break more than 4% of the vote in either Iowa, New Hampshire, or Nevada as Sanders and Buttigieg largely dominated the first three contests.
Read more:LIVE UPDATES: Biden winning South Carolina primary, follow the vote and results as they come inAdvertisement
- IMD issues 'red alert' in Uttarakhand for heavy rainfall in the next two days
- TikTok alternatives— reviews of the top three short video apps on Google Play Store
- Two die of COVID-19 in Pondy, 49 new cases reported
- A drug retail chain grew from ₹8 crore a year to ₹1000 crore without the MSME tag— the founder has lessons to share with other small biz
- 11 new cases increase Arunachal COVID-19 tally to 287