Tom Steyer , the billionaire hedge fund manager and environmentalist, on Saturday dropped his bid for the 2020 Democratic presidential nomination.

Steyer exited the race shortly after former Vice President Joe Biden secured a crucial win in the South Carolina primary, and days before Super Tuesday. MSNBC and CNN were first to report on Steyers plans.

Steyer told his supporters that he was suspending his campaign because he couldnt see a path to winning.

I got into this race because I thought that people werent adequately addressing racial injustice in this country, and its true. I thought that we were at risk as a country in terms of climate ... and thats true. And we live in a country thats deeply unjust economically ... and thats really true, he said in a speech Saturday night. I was in this race to talk about things that I care the most about.

Steyer, a 62-year-old philanthropist who has funneled millions of dollars into a campaign to impeach President Donald Trump , said any Democrat would be better than the current administration.

Every Democrat is a million times better than Trump, he said. Lindsey Grahams a disaster. Hes a disaster for the people here.

Steyer launched his candidacy in July after initially saying he would not run. He joined an already crowded field of more than 20 Democratic candidates , vowing to take on a rigged political system in Washington, tackle the climate crisis, fight income inequality and powerful corporations, and expose Trump as a fraud and a failure .

Really what were doing is trying to make democracy work by pushing power down to the people, he said in a video announcing his campaign. If this is a banana republic with a few very, very rich people and everybody else is living in misery, thats a failure.