Former President Barack Obama has also endorsed Vice President Harris.
Vice President Kamala Harris wrapped up what has been a whirlwind week in the presidential race with her campaign saying Sunday it has raised more than $200 million in less than a week.
On Thursday night, Harris met with Israeli Prime Minister Benjamin Netanyahu and took the lead in addressing the public about their discussions.
Harris has secured commitments from enough delegates to become the presumptive nominee if they all honor their commitment when voting, according to ABC News reporting.
First lady Jill Biden released a statement on X after the speech saying that her "heart is full of gratitude."
"Thank you for the trust you put in Joe—now it’s time to put that trust in Kamala. Love, Jill," she said.
After the president concluded at 8:12 p.m., he was applauded by staff and family gathered in the Oval Office for about 60 seconds.
First lady Jill Biden and several of the president’s grandchildren sat in chairs positioned along the wall to the president’s left.
Ashley Biden, the president’s daughter, sat next to her mother, with her eyes closed, taking several deep breaths during the first few minutes of the address.
The first lady held Ashley Biden’s hand towards the end.
White House press secretary Karine Jean-Pierre and White House Communications Director Ben LaBolt watched from a monitor set up in the back of the room. The president’s top advisers, Mike Donilon and Steve Ricchetti, were also at the White House to observe the moment.
-ABC News' John Parkinson and Justin Gomez
House Minority Leader Hakeem Jeffries responded to Biden's speech in a statement on X saying the president "has run a great race and left our country a better place."
"He passed the torch to all of us. It is now our responsibility to save American democracy," he said.
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The president looked back at his accomplishments in office noting that the country was still reeling from the pandemic and bounced back.
He cited the 12 million new jobs created, increasing wages and declining inflation.
"We're literally rebuilding our entire nation, urban, suburban, rural, [and] tribal communities," he said.
