Steyer spent millions in the state, but ultimately fell behind Joe Biden and Bernie Sanders.
... [+]: Billionaire Tom Steyer has dropped out of the presidential race, his campaign announced Saturday, after pouring millions into South Carolina, betting on a longshot victory in the state and, ultimately, coming up short.
He made a solid showing, beating more established candidates such as Pete Buttigieg, Elizabeth Warren and Amy Klobuchar, but he fell behind Bernie Sanders and Joe Biden.
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