Money Didn't Buy This Race

In losing to Ted Cruz, Texas Lt. Gov. David Dewhurst managed to blow about $25 million of his own money

Texas Lt. Gov. David Dewhurst joined a long list of candidates for Congress who have bet their personal fortunes in politics—and lost.

Ted Cruz, the newest Tea Party star, easily defeated Dewhurst in the Senate Republican runoff in Texas last night.

Dewhurst, who owns an energy company, spent about $25 million of his own money in the race.

That's only half of what wrestling executive Linda McMahon spent in 2010 when she made her first bid for the U.S. Senate from Connecticut. McMahon spent $50.1 million two years ago, financing 99% of that campaign on her own.