Steyer Drops Out of Presidential Race

“Tom Steyer, the billionaire former hedge-fund executive whose prolific campaign spending altered the Democratic primary and allowed him to persist in the race, is dropping out following a loss Saturday night in South Carolina,” the New York Times reports.

“The news came after Mr. Steyer failed to capitalize on his investment of millions of dollars in South Carolina, where he had pinned the hopes of his campaign. Despite spending more than $175 million on adverting throughout his campaign, Mr. Steyer did not earn any national pledged delegates in Iowa, New Hampshire or Nevada.”