Laurence Fox has lost his £10,000 deposit paid to run for London Mayor after getting just 1.8% of the votes in the capital.
But the actor - who ran under his own 'Reclaim Party' banner - did succeed in gaining more votes (47,364) than oddball candidate Count Binface (24,775). The Lib Dems also lost their deposit with just 4.4% of the votes.
Labour's Sadiq Khan was re-elected as Mayor of London in a closer contest than many had predicted.
Opinion polls had suggested his Conservative rival Shaun Bailey would be a distant second in the race for City Hall.
Mr Khan took 1,206,034 votes after second preferences were taken into account, compared to Mr Bailey at 977,601.
It was announced Mr Khan had won a second term at 11pm on Saturday, amid earlier suggestions that the declaration would be delayed until Sunday.
The result will be a glimmer of hope to the Labour Party after it received a drubbing in local elections in England, losing control of a host of councils and a humiliating defeat in the Hartlepool by-election.
Mr Khan was first elected mayor of the capital in 2016 in a landslide victory, breaking the Conservatives' eight-year hold on City Hall.
Sadiq Khan pledged to build a "better and brighter future" for the capital following the coronavirus pandemic in his victory speech from City Hall after being re-elected London mayor.
"I want to say thank you from the bottom of my heart," he said.
"I am deeply humbled by the trust Londoners have placed in me to continue leading the greatest city on earth.
"I promise to strain every sinew, help build a better and brighter future for London, after the dark days of the pandemic and to create a greener, fairer and safer city for all Londoners, to get the opportunities they need to fulfil their potential.
"I am proud to have won an overwhelming mandate today."
Fox tweeted late on Saturday evening: "Thank you so much to the 47,634 of you who voted for me. I am profoundly moved. Sleep well".
In a speech from City Hall after he was defeated in the contest to be the capital's mayor, Conservative candidate Shaun Bailey said Londoners had not "written him off".
He said: "As I went through these, for me what was two years of campaigning, one feeling felt familiar to me, one challenge had always felt the same.
"And that was the feeling of being written off - by pollsters, by journalists, by fellow politicians.
"But it's no surprise to me that Londoners didn't write me off."
Mr Khan was first elected mayor of the capital in 2016 in a landslide victory, breaking the Conservatives' eight-year hold on City Hall.