Beto O’Rourke Spent $14 Million on Failed Presidential Campaign

Former Congressman Beto O’Rourke spent about 14 million on his failed presidential campaign, according to campaign finance records.

The latest campaign finance report issued on September 30 showed O’Rourke spent $13,965,478, according to Open Secrets. The former Texas congressman ended up with only about $3 million cash on hand. Final numbers for his campaign have yet to be released, but he likely surpassed $14 million in money spent the 30 days since his last report.

Beto made a big splash after announcing his run for president by raising $6.1 million in the first 24 hours, but his early success faded as other candidates caught the imaginations of Democrat voters.

The campaign spent $1.43 for every $1 it raised in the third quarter, according to the Texas Tribune, with payroll and related costs taking up the bulk of expenses. O’Rourke raised only $4.5 million in the third quarter.

His campaign raised $17 million.

“Though it is difficult to accept, it is clear to me now that this campaign does not have the means to move forward successfully,” O’Rourke announced on Friday night, ending his campaign for president.