Democratic presidential candidate Tom Steyer dropped out of the race after a disappointing finish in the South Carolina primary (Jeff Gentner)

Columbia (United States) (AFP) – Billionaire activist Tom Steyer dropped out of the race for the Democratic presidential nomination on Saturday after a disappointing finish in the South Carolina primary.

Steyer spent more than $20 million on advertising in South Carolina but was heading to a third-place finish behind former vice president Joe Biden and Vermont Senator Bernie Sanders.

“We were disappointed with where we came out,” Steyer said in a speech to supporters.

“I said if I didn’t see a path to winning I’d suspend my campaign,” he said. “And I can’t see a path where I can win the presidency.”

Disclaimer: Validity of the above story is for 7 Days from original date of publishing. Source: AFP.