Tom Steyer announced that he is dropping out of the presidential race following his loss in the South Carolina primaries.
Steyer announced he was dropping out of the race after he placed third in South Carolina Saturday, according to CBS.
CBS News reports, Steyer invested a lot of time and money into South Carolina. CBS says he spent more than $17 million on South Carolina campaign ads and had the most staff out of the other candidates.
Steyer failed to earn any delegates in the other three early-voting states, CBS News reports.
Former Vice President Joe Biden wins South Carolina Democratic primary