Vivek Ramaswamy, the 38-year-old biotech company founder and political newcomer, has officially suspended his 2024 Republican presidential campaign after a disappointing fourth-place finish in the Iowa GOP caucuses.

Despite his ambitious bid and considerable personal financial investment, Ramaswamy failed to garner the support needed to propel his campaign forward, as per the New York Times.

Vivek Ramaswamy Concedes Presidential Bid

Addressing his supporters in Des Moines on Monday night, Ramaswamy conceded, "We did not achieve the surprise that we wanted to deliver tonight," acknowledging the challenges he faced in the competitive primary race.

He emphasized, "There is no path for me to be the next president absent things that we don't want to see happen in this country."

Having invested heavily from his own fortune, as evidenced by Securities and Exchange Commission filings revealing a recent sale of over $33 million worth of stock in his biotech company, Roivant Sciences, Ramaswamy had initially presented himself as a next-generation version of former President Donald Trump.

However, his attempt to embody Trump's political legacy fell short, leading to the unexpected move of endorsing the former president immediately upon exiting the race.

"I'm going to ask you to follow me and take our America First movement to the next level," Ramaswamy proclaimed, extending his full backing to Donald J. Trump.

The 38-year-old son of Indian immigrants had campaigned with a strong aversion to identity politics, positioning himself as an outsider and government skeptic while opposing business efforts to intertwine with political, social, and environmental causes.

Ramaswamy, a Harvard and Yale graduate, had made his fortune as a hedge-fund investor, founding Roivant Sciences to advance pharmaceuticals neglected by major drugmakers. Despite his significant financial commitment to the campaign, Ramaswamy struggled to gain traction and resorted to echoing Trump's apocalyptic rhetoric, labeling his policy agenda as 'America First 2.0,' according to The Wall Street Journal.

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Ramaswamy Embraces Conspiracy Theories

As the campaign progressed, Ramaswamy delved into conspiracy theories to differentiate himself. Notably, he claimed that media and external forces were conspiring against him to prevent the truth about the January 6, 2021, Capitol riots from emerging.

In a live stream on X (formerly Twitter), Ramaswamy confirmed his withdrawal from the race and announced his endorsement of Donald Trump. The Iowa caucus results projected Trump's victory by more than half the vote, leading Ramaswamy to express pride in his team and congratulate Trump on his success.

Prominent conservative figures, including Charlie Kirk, founder and CEO of Turning Point USA, expressed support for Ramaswamy's decision to withdraw, acknowledging his impact on the political stage. Kirk commended Ramaswamy for shifting the narrative on Diversity, Equity, and Inclusion (DEI) and urged other candidates, such as Florida Governor Ron DeSantis and former UN Ambassador Nikki Haley, to follow suit and endorse Trump.

Despite ending his presidential bid, Ramaswamy leaves a lasting imprint on the campaign trail, having poured millions of dollars into the race and conducted over 300 public events across all 99 counties in Iowa. His decision to step aside signals a shift in the dynamics of the Republican primary race as other candidates reassess their strategies in the wake of Iowa's outcomes, Newsweek reported.

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