<p class="title">Billionaire activist Tom Steyer is dropping out of the race for the Democratic presidential nomination after his disappointing finish in Saturday's South Carolina primary, networks said.</p>.<p class="bodytext">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.</p>
<p class="title">Billionaire activist Tom Steyer is dropping out of the race for the Democratic presidential nomination after his disappointing finish in Saturday's South Carolina primary, networks said.</p>.<p class="bodytext">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.</p>