Joe Biden has withdrawn from the 2024 election race less than four months out from polling day in a stunning about-face.
The 81-year-old had faced weeks of mounting speculation over his political future as questions on his health and cognitive ability swirled.
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On Monday AEST, the president took to social media to pull out of the race to face Republican nominee Donald Trump in the November poll.
“It has been the greatest honour of my life to serve as your president,” he wrote.
“And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term.”
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He said he would address the nation formally later in the week.
“For now, let me express my deepest gratitude to all those who have worked so hard to see me reelected. I want to thank Vice President Kamala Harris for being an extraordinary partner in this work.”
He said he would be endorsing Harris to take his place on the ballot.
“My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made.
“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this.”
At 81 years old, Biden is already the oldest sitting US President in history.
He had sought to reassure Democrats that he was still fit for office, saying on a call with staffers in July: “I’m in this race to the end and we’re going to win.”
However, on Monday, he said that he was withdrawing and endorsed his vice president to take his place on the ballot.
Concerns about his ability to serve for another four years have been bubbling for months, but were thrust into the spotlight during a shaky June 27 debate performance against Trump.
In a phone call with CNN minutes after Biden announced his exit from the 2024 race, former president Trump described Biden as going “down as the single worst president by far in the history of our country.”
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While it’s unclear who the Democratic nominee will be, Trump said he thinks Harris will be easier to defeat than Biden would have been.
In a post to his social platform Truth Social, Trump described Biden as “crooked” and said he was “certainly not fit to serve”.
“We will suffer greatly because of his presidency, but we will remedy the damage he has done very quickly.”
The US presidential election will be held on November 5.
In a statement posted to X shortly after the news, Australian Prime Minister Anthony Albanese thanked Biden for his service.
“The Australia-US Alliance has never been stronger with our shared commitment to democratic values, international security, economic prosperity and climate action for this and future generations,” he said.
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