Billionaire Tom Steyer has quit the Democrat race for president after spending $200+ million in South Carolina, more than $250 million overall, and coming in a distant third place without a single delegate.

(Via NBC) – Tom Steyer, the California activist billionaire who has largely been a nonfactor in the Democratic primary campaign, dropped out of the race on Saturday night.

Steyer’s departure came after a disappointing finish in the South Carolina Democratic primary. With 56 percent of the vote in, Steyer had just 11.7 percent of the vote — despite spending millions of dollars on campaigning there. (read more)