You're talking about H. Ross Perot.
In 1992 the race was a three-way split between Gov. Bill Clinton, incumbent George H. W. Bush, and actual billlionaire H. Ross Perot.
The popular vote was basically a 40/40/20 split, but with Perot's viewpoints closer to Bush's than Clinton's, the split bote in the South gave Clinton the plurality in enough states, leading to a massive EC victory.
Perot ran again in 1996, got next to nothing, and we've never heard from him since.