Elizabeth Warren Drops Out of Presidential Race

Elizabeth Warren was once considered one of the Democratic front-runners, but a poor showing on Super Tuesday effectively knocked her out of the race.
Author:
Updated:
Original:

Massachusetts Sen. Elizabeth Warren dropped out of the race for president on Thursday, ending her campaign to become the Democratic nominee to take on President Donald Trump in November.

“I know that when we set out, this was not the call you ever wanted to hear. It is not the call I ever wanted to make. But I refuse to let disappointment blind me – or you – to what we’ve accomplished,” Warren said during a call with her staff. "We didn’t reach our goal, but what we have done together – what you have done – has made a lasting difference."

The results from this week’s Super Tuesday primaries across 14 states were the final nail in Warren’s 2020 presidential campaign coffin with establishment favorite Joe Biden winning several big states, including Texas, North Carolina and Virginia. With Warren rival Senator Bernie Sanders (D-VT) winning the night’s biggest prize, California, the path to the oval office was getting murky for Warren, who failed to win even her home state of Massachusetts.

It was not immediately known whether Warren intended to endorse one of her Democratic rivals. 

Warren, a former Harvard Law School professor and frequent critic of Wall Street and the billionaire class, made her name in Congress by advocating for financial sector reforms as the ranking member on the Subcommittee on Financial Institutions and Consumer Protection, Subcommittee on Economic Policy and the Subcommittee on Securities, Insurance and Investment.

The two-term Senator made plenty of noise in the fall by ruffling the feathers of some of Wall Street’s wealthiest titans, most famously by making billionaire investor Leon Cooperman lose composure in an interview he gave to CNBC about the political climate surrounding the wealthy.

Cooperman was a vocal critic of Warren’s proposed wealth tax, which would have imposed an annual 2% tax on households with a net worth between $50 million and $1 billion.

“I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me. The world is a substantially better place because of Bill Gates, Michael Bloomberg, David Rubenstein, Bernie Marcus, Ken Langone,” Cooperman said.