Vivek Ramaswamy Drops Out of 2024 Presidential Race After Iowa Caucuses

The businessman endorsed former president Donald Trump after ending his campaign

<p>Drew Angerer/Getty </p> Vivek Ramaswamy

Drew Angerer/Getty

Vivek Ramaswamy

Republican presidential candidate Vivek Ramaswamy announced he is suspending his 2024 presidential campaign on Monday after finishing fourth in the Iowa caucuses.

Ramaswamy earned 7.7% of the vote, with 95% of the ballots counted, reports the Associated Press. Former president Donald Trump won with 51%, with Florida Gov. Ron DeSantis finishing a distant second with 21.2%. Nikki Haley came in third with 19.1%.

As the results came in, Ramaswamy said he called Trump to congratulate him, reports NBC News. He plans to attend a rally with Trump in New Hampshire on Tuesday.

"There needs to be an America First candidate in this race,” Ramaswamy said in Des Moines. "Going forward, he will have my full endorsement for the presidency."

Related: Donald Trump Wins Republican Caucuses in Iowa, Securing Party's First 2024 Victory

The 38-year-old tech entrepreneur first entered the race in February 2023, announcing his decision during an appearance on Tucker Carlson Tonight and in a subsequent Wall Street Journal editorial.

"To put America first, we need to rediscover what America is. That's why I am running for president," Ramaswamy wrote in his op-ed. "I am launching not only a political campaign but a cultural movement to create a new American Dream — one that is not only about money but about the unapologetic pursuit of excellence."

<p>Drew Angerer/Getty </p> Vivek Ramaswamy

Drew Angerer/Getty

Vivek Ramaswamy

Related: What to Know About Vivek Ramaswamy, the 'Anti-Woke' Entrepreneur Who Just Entered the 2024 Presidential Race

In the months since, Ramaswamy has garnered headlines for being outspoken against companies using their platforms for social causes and has criticized things like critical race theory, self-victimization and efforts to stop climate change.

Ramaswamy has criticized also diversity programs in America, claiming that they only emphasize people's differences.

Those viewpoints were a theme in his 2021 New York Times best-selling bookWoke, Inc.: Inside Corporate America's Social Justice Scam, and his 2022 follow-upNation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence.

<p>Anna Moneymaker/Getty</p> Vivek Ramaswamy in June 2023

Anna Moneymaker/Getty

Vivek Ramaswamy in June 2023

The Ohio native has founded many multibillion-dollar tech and health care companies after graduating summa cum laude from Harvard and receiving a law degree from Yale, according to his biography page on

Related: Nikki Haley Slams Vivek Ramaswamy After He Brings Up Her Daughter at GOP Debate: ‘You’re Just Scum’

Strive Asset Management, Ramaswamy's "anti-activism fund company," announced in September that it was managing more than $1 billion in assets, a milestone that came as two of the company's former employees had just sued the candidate and his co-founder, accusing them of mistreating staff and pressuring them to violate securities law.

While new to the political arena, Ramaswamy made headlines throughout his campaign for sparring with Haley.

During one primary debate, Ramaswamy called out Haley for letting her 25-year-old daughter Rena use TikTok, a popular Chinese-owned social media platform that has become a hot-button issue in the Republican Party over national security concerns, to which the former South Carolina governor replied, “You’re just scum.”

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