(continued)

TOTAL CAMPAIGN COST: $38 million Al Checchi kissing a baby: Priceless (Photo: Getty Images)

Hot on the heels of Michael Huffington, Al Checchi showed up to prove that it was possible to spend a ludicrous amount of money without even getting to the general election. Vowing that he would spend "whatever it takes" to secure the nomination, the former cochair of Northwest Airlines managed to spend nearly $40 million in about 36 weeks.

Checchi had never held public office, and his early prospects seemed dim on the suspicion that Senator Dianne Feinstein would enter the race. She never did, and the primary turned into a three-way between Checchi, congresswoman Jane Harman, and eventual nominee Gray Davis. Checchi's campaign did well on the strength of his ads, but once he began trading blows with Harmon, whose $20 million campaign was partially financed by her husband, his numbers began to fall. Despite spending more money on his campaign than all of his opponents combined ($72 million), Checchi only received 13 percent of the vote.He wound up with only 13 percent of the vote. Davis, whose $12 million was fully financed by donors, won with 35 percent.

Of course, Davis inherited that whole burgeoning energy crisis—partially the result of deregulation during the Pete Wilson era—that resulted in his being pulled from office in a 2003 recall. Checchi might have dodged a bullet on this one.

Total Amount Spent: $38,928,244
Cost Per Vote: $57.08