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Steyer Calls Rumors He is Dropping Out of Democratic Race 'Ridiculous'

Despite online rumors that briefly appeared on Tuesday, billionaire Tom Steyer told NBC News that he was not dropping out of the Democratic race for the presidential nomination.

Steyer, a former hedge fund manager from New York, flatly debunked tweets proclaiming his exit from the race as "ridiculous."

"No. That's ridiculous. Like there's also maybe a tweet that I've lost my arms and legs, but here they are," Steyer said, waving.

Yang's departure from the race affected Steyer on a personal level but he said he wanted to focus on the upcoming primary in Nevada and not if Yang's supporters would move over to his camp.

"I really enjoy and like Andrew Yang," Steyer said. "I think he's somebody who brought a lot of new ideas and fresh energy to this race. He's also a very nice guy. For selfish reasons, I'm sorry to see him go because I liked spending time with him."

"I wasn't thinking about [Yang's departure] from the standpoint of where his percentages would go," Steyer added. "My attitude about this is I've got to appeal to Nevadans directly. I've got to appeal as the person who can beat Trump on the economy and I've got to appeal as someone who can work for Nevada."

While Steyer has spent over $120 million on advertising, the effort does not seem to have helped him win supporters in the Iowa caucus or New Hampshire primary. Steyer's performance in the race has been underwhelming so far. He received no delegates in the Iowa caucuses and only garnered 0.3 percent of the vote, placing him behind Yang.

In a Tuesday statement to Newsweek, Steyer said preliminary reports from New Hampshire "show that the race for the Democratic nomination is wide open. Until Nevada and South Carolina have the chance to vote, we won't know which candidates can build the diverse and unified coalition we need to win in November."

tom steyer
Democratic presidential nominee Tom Steyer said Tuesday that rumors about him dropping out of the race were "ridiculous." Scott Olson/Getty

Steyer left New Hampshire before the final results of the primary were announced to begin his Nevada campaign.

Steyer's campaign has focused on his economic policies which he claims would "break the stranglehold that corporations exercise over our government with their money and lobbying power," according to his campaign website.

Steyer has long considered President Donald Trump to be a "fraud and failure," even beginning a grassroots campaign to have Trump impeached. At the Ohio Democratic debate in October 2019, Steyer told the audience he launched "the Need to Impeach movement because I knew there was something desperately wrong at 1600 Pennsylvania Avenue."

Steyer's desire to unseat Trump has led to a few Twitter spats between the two.

"Impeachment King Steyer (how did that work out?) spent 200 Million Dollars and got less than 1% of the vote in Iowa, and only 3% of the Vote in New Hampshire," Trump tweeted before the final results from the New Hampshire primary were released. "Could it be that something is just plain missing? Not easy to do what I did, is it?"

"Impeached President Trump (how did that work out?) spent 1.5 trillion dollars in tax breaks for corporations and the rich that did nothing for the economy," Steyer responded. "Could it be that something is just plain missing? Not easy to be this bad at your job."

Steyer Calls Rumors He is Dropping Out of Democratic Race 'Ridiculous' | Politics