'I said if I didn't see a path to winning, that I'd suspend my campaign,' Steyer told supporters on Saturday. 'And honestly, I can't see a path where I can win the presidency.'
Steyer had spent more time in South Carolina than any other candidate and fielded the largest on-the-ground campaign staff.
He caused a stir in this state because of his extensive spending. He spent nearly $24 million ads there and waged an aggressive direct-mail campaign. Some of his spending, including the practice of hiring local lawmakers as paid staff, drew unease that he was buying the black vote.