U.S. Democratic presidential candidate Cory Booker will drop out of the running for his party's 2020 White House nomination unless he can raise $1.7 million over the next 10 days for his struggling campaign, his campaign said on Saturday.
The mounting scale of rival campaigns and the prospect of higher thresholds for participating in future Democratic debates have forced Booker's campaign to an "inflection point" where it must grow quickly or have no "legitimate long-term path forward," according to campaign manager Addisu Demissie.
"If we're not able to build the campaign organization, which means raise the money that we need to win the nomination, Cory's not going to continue running and consuming resources that are better used on focusing on beating Donald Trump," Demissie told reporters in a conference call.
The announcement came as the large, racially diverse Democratic presidential field shows signs of eroding, with fundraising largely dominated by four candidates: former Vice President Joe Biden, Senator Elizabeth Warren, Senator Bernie Sanders and Mayor Pete Buttigieg of South Bend, Indiana.
Booker, a black U.S. senator from Newark, New Jersey, whose support in national opinion polls stands in the low single digits, needs to raise $1.7 million by the time the financial quarter ends on Sept. 30, according to a campaign memo sent to supporters and posted online on Saturday.