Steyer had 22.6% of votes when the race was called.

Steyer had 22.6% of votes when the race was called.

Billionaire Tom Steyer sank more than $213 million of his own money into what now looks like a failing bid for California governor.

The billionaire investor also spent more than $300 million of his own money on a failed bid for president in 2020.

Tom Steyer has spent over $550 million on two election losses because billionaires can't just buy their way into the hearts of voters.