Former Texas Rep. Beto O'Rourke announced Friday that he's dropping out of the 2020 presidential race.
In a letter posted to Medium, O'Rourke said he decided to leave the race because his campaign "does not have the means to move forward successfully."
He wrote: "Acknowledging this now is in the best interests of those in the campaign; it is in the best interests of this party as we seek to unify around a nominee; and it is in the best interests of the country."
According to CNN, O'Rourke's poor fundraising played a pivotal role in his decision. His advisers reportedly found that if fundraising didn't pick up, O'Rourke would likely have to lay off staffers or forgo the campaign ads they felt he needed to stay in the race.
In a Twitter thread, O'Rourke said he hopes his supporters will "work to ensure that the Democratic nominee is successful in defeating Donald Trump in 2020."
President Trump responded to O'Rourke's announcement, tweeting: "Oh no, Beto just dropped out of race for President despite him saying he was 'born for this.' I don't think so!"
O'Rourke is not expected to run for any other office in 2020, despite calls for him to launch a U.S. Senate campaign in Texas.
Additional reporting from Newsy affiliate CNN.