After a poor performance in the Iowa caucuses, the first contest of the 2024 Republican presidential race, biotech entrepreneur Vivek Ramaswamy announced on Monday that he is dropping out of the campaign.

Ramaswamy, who is 38 years old, threw his support behind his former competitor, ex-President Donald Trump. He had praised Trump as the “best president of the 21st century” in the past, while also urging Republican voters to choose “fresh legs” and “take our America First agenda to the next level.”

The rich political newcomer followed Trump’s example in his own run, presenting himself as a charismatic, outspoken populist who constantly attacked his rivals.

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