Whitman bows out from the race on Election Night, conceding to Democrat Jerry Brown. (Laura Walsh)

Only two of the 10 candidates for state offices nationwide who spent the most amount of money on their own campaigns won their election bids this year, according to a report released Tuesday by the National Insitute for Money in State Politics.

Republicans Rick Snyder and Rick Scott won the governor's races in Michigan and Florida, respectively. They spent a combined $66 million, which is still less than half of what Republican Meg Whitman infused into her failed run for California's governor's seat.

The Institute says Whitman's $141.6 million in personal contributions was the most money ever raised by a candidate seeking state office since it began tracking campaign finance data.

A report by the Center for Responsive Politics, which tracks federal races, found that only one of the eight candidates who spent more than $3.5 million on their own campaign won this year. That was Wisconsin's Senator-elect Ron Johnson, who put $7 million of his own money into his campaign.

Reach executive producer Paresh Dave here. Follow him on Twitter: @peard33.