More than $200 million later, Tom Steyer’s second bid for elected office is done

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

Billionaire climate activist Tom Steyer’s bid for governor of California is the second time he has spent more than nine figures in an unsuccessful attempt to win public office.

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NBC News projected Tuesday that former conservative commentator Steve Hilton advanced to the general election for governor, joining former Health and Human Services Secretary Xavier Becerra. That means Steyer is out, unable to push into the top two spots in the all-party primary.

Steyer spent more than $215 million of his own money on his campaign, according to the latest campaign finance reports published by the state. That money has helped Steyer flood the airwaves with a staggering $209 million in ad spending, according to the ad-tracking firm AdImpact.