Former mayor of New York, Michael Bloomberg, has withdrawn from the running to become the US presidential candidate for the Democratic Party ahead of the 2020 elections.
Bloomberg’s withdrawal comes after he failed to win a single state on Super Tuesday, despite spending millions of dollars on his campaign.
His sole victory came in the overseas US territory of American Samoa.
Bloomberg said in a statement: "Three months ago, I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason.”
Bloomberg has since endorsed former US vice-president Joe Biden, who propelled himself into the running alongside left-wing senator, Bernie Sanders, after winning ten of the 14 states available on Super Tuesday.
Bloomberg added: "I've always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it.
"After yesterday's vote, it is clear that candidate is my friend and a great American, Joe Biden."
CBS News reports that Biden is projected to gain 584 delegates to Sanders' 509, but with the state of California yet to declare, the numbers could yet swing in Sanders' favour ahead of the next primaries, which will occur in Michigan, Washington state, Idaho, Mississippi, Missouri and North Dakota on March 10.
The winner will face Republican president Donald Trump in November’s presidential elections.