People will be talking about Joe Biden’s exit from the 2024 presidential election for decades to come. It hasn’t happened since LBJ decided not to run for reelection and in that case it was entirely his own decision.

There has already been tons of speculation about the main reasons why this happened and people have cited Biden’s health, his mental deterioration, the polls and his awful debate performance in June.

If you listen to his campaign co-chair Cedric Richmond however, it all came down to just one thing. The money.

According to Richmond, once the big Dem donors shut off the cash flow, Biden was doomed.

Townhall reports:

Biden campaign co-chair Cedric Richmond explained what really forced Biden out: big donors bailed on him.

They “created a self-fulfilling prophecy,” by failing to contribute after the June 27 debate, he said on CNN following Biden’s bombshell announcement. “You can’t win without money, and then they were going to point the finger at the candidate.

“They were going to blame it on Biden,” he added. “For a president that has accomplished so much, it was a no-win situation.”

Now that they successfully pushed Biden out of the race, Richmond said it’s time for those donors to “step the f*** up” and support Vice President Kamala Harris’s campaign.

So far, it appears they are.

So now we know who really runs the Democrat party. It’s the people with the cash. People like George Clooney run the party.

As an aside, Cedric Richmond was the guy who insisted that Biden was staying in the race. He was on board right up until the end.

WATCH: Biden campaign co-chair Cedric Richmond claims it's "absolutely false" that Biden is considering exiting the race despite widespread reports Joe is considering bowing out pic.twitter.com/d4mK405nTf

— TV News Now (@TVNewsNow) July 19, 2024

Who can blame him for being bitter today?