• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
PoliticsJoe Biden

Biden explains decision to step aside: ‘It’s not about me, it’s about you.’

By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
,
Will Weissert
Will Weissert
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
,
Will Weissert
Will Weissert
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 24, 2024, 8:42 PM ET
Joe Biden and Kamala Harris
President Biden addressed the American public on Wednesday. Photo by Kevin Dietsch/Getty Images

Insisting that “the defense of democracy is more important than any title,” President Joe Biden on Wednesday explained in an Oval Office address his decision to drop his bid for reelection and to throw his support behind Vice President Kamala Harris.

Recommended Video

The address offered the public their first chance to hear directly from Biden his rationale for dropping out of the 2024 after weeks of insisting he believed himself to be the best candidate to take on former President Donald Trump, whom he has called an existential threat to the nation’s democracy. It also gave Biden a chance to try to shape how history views his one and only term in office.

“The defense of democracy is more important than any title,” Biden said. “Nothing, nothing can come in the way of saving our democracy. And that includes personal ambition.”

Said Biden, “I revere this office, but I love my country more.” He added that his decision to bow out was made in good faith. “It’s not about me, it’s about you.”

Biden’s candidacy faced a crisis of confidence from Democrats after his abysmal debate against Trump nearly a month ago, where he spoke haltingly, appeared ashen and failed to rebut his predecessor’s attacks. It sparked a mutiny within his party over not just whether he was capable of beating Trump in November, but also whether at 81, he was still fit for the high-pressure job.

Biden tried to outlast the skepticism and quell the concerns with interviews and tepid rallies, but the pressure to step aside only mounted from the party’s political elites and from ordinary voters.

On Sunday afternoon, while isolating at his Rehoboth Beach, Delaware, home with COVID-19, Biden finally bowed in a letter posted to his account on X announcing his decision to leave the race, followed up later by an endorsement of Harris.

“I have decided the best way forward is to pass the torch to a new generation,” Biden said, saying he wanted to make room for “fresh voices, yes, younger voices.”

He added, “That is the best way to unite our nation.”

Biden’s address was being carried by the major broadcast and cable news networks. He pledge to remain focused on being president until his term expires at noon on Jan. 20, 2025, saying he would work to end the war between Israel and Hamas in Gaza, fight to boost government support to cure cancer, and call for Supreme Court reform.

The president was hoping to use the address to outline the stakes in the election, which both Biden and Harris have framed as a choice between freedom and chaos, but he tried to steer clear of overt campaigning from his official office and never mentioned Trump by name.

“The great thing about America is here, kings and dictators do not rule,” Biden said. “The people do. History is in your hands. The power is in your hands. The idea of America — lies in your hands.”

Biden was also looking to make the case for his legacy of sweeping domestic legislation and the renewal of alliances abroad. The way history will remember his time in office and his historic decision to step aside is intertwined with Harris’ electoral result in November, particularly as the vice president runs tightly on the achievements of the Biden administration.

His advisers say he intends to hold campaign events and fundraisers benefiting Harris, albeit at a far slower pace than if he had remained on the ballot himself.

Harris advisers will ultimately have to decide how to deploy the president, whose popularity sagged as voters in both parties questioned his fitness for office.

Biden, aides say, knows that if Harris loses, he’ll be criticized for staying in the race too long and not giving her or another Democrat time to effectively mount a campaign against Trump. If she wins, she’ll ensure his policy victories are secured and expanded, and he’ll be remembered for a Washingtonian decision to step aside for the next generation of leadership.

Press secretary Karine Jean-Pierre said Wednesday that any question of Biden resigning his office — which would allow Harris to run as an incumbent — was “ridiculous.”

Jean-Pierre said Biden has “no regrets” about his decision to stay in the race as long as he did, or his decision to quit it over the weekend. She said Biden’s decision had nothing to do with his health.

The CEO-in-Chief speaks. Fortune sits down with President Trump on tariffs, the Intel stake, Boeing's record orders, and what the markets should expect next. Read the interview
About the Authors
By Zeke Miller
See full bioRight Arrow Button Icon
By Seung Min Kim
See full bioRight Arrow Button Icon
By Will Weissert
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

electrical transmission lines hang over a housing development on March 24, 2026 in Sylmar, California.
EnergyElectricity
2025 was a turning point for your electricity bill and it’s just getting more expensive from here. It’s not just data centers
By Tristan BoveMay 20, 2026
21 minutes ago
cassidy
PoliticsElections
Anti-Trump Republicans are dead pols walking. Call them the ‘YOLO caucus’
By Steven Sloan, Joey Cappelletti and The Associated PressMay 20, 2026
2 hours ago
soros
Politicsphilanthropy
‘We will not be intimidated into silence’: George Soros foundation pledges $300 million toward democratic rights
By Thalia Beaty and The Associated PressMay 20, 2026
2 hours ago
massie
PoliticsElections
Trump gets revenge on Epstein rebel Thomas Massie in Kentucky GOP primary
By Jesse Bedayn, Dylan Lovan and The Associated PressMay 20, 2026
3 hours ago
Dr. Bernice A. King
Workplace CultureWorkplace Innovation Summit
Dr. Bernice King on why companies that walked back DEI were never truly committed: ‘If you retreat that quick…that reveals who you really are’
By Preston ForeMay 19, 2026
23 hours ago
Photo of Donald Trump (left) with Mark Cuban
PoliticsDonald Trump
Trump and Mark Cuban end war of words to tag-team America’s drug pricing crisis: ‘Democrats want cheaper medications, too’
By Catherina GioinoMay 19, 2026
23 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
21 hours ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
8 days ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
3 days ago
Current price of oil as of May 19, 2026
Personal Finance
Current price of oil as of May 19, 2026
By Joseph HostetlerMay 19, 2026
1 day ago
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
Travel & Leisure
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
By Rio Yamat and The Associated PressMay 18, 2026
2 days ago
Employers are quietly pausing 401(k) matches again. The last time this happened was the 2008 recession and Covid
Personal Finance
Employers are quietly pausing 401(k) matches again. The last time this happened was the 2008 recession and Covid
By Courtney Vinopal and HR BrewMay 18, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.