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Tonight Mitt Romney took his final bow in his aspirations for the White House.

STORY: Presidential Election Day 2012 Obama Vs. Romney: Results State-By-State

The wealthy businessman lost the 2012 presidential election to Democratic incumbent Barack Obama, who gained major traction in key battleground states like Ohio, Iowa and Pennsylvania, solidifying his re-election. Initially, Romney was reluctant to concede his presidential bid, a campaign that he has been running for years, and which has cost him hundreds of millions of dollars.  

Throughout his campaign, he ran into a number of bumps and gaffes that stifled his road to victory, including his infamous “47 percent” comment trashing half the nation.

Despite his big loss, Romney supporters cheered him on as he gave his concession speech.

“I just called President Obama to congratulate him on his victory,” started the former Governor.  “This is a time of great challenges for America, and I pray that the President will be successful in guiding our nation.”

He also thanked his runningmate Paul Ryan and reassured Americans that “he was the best choice that he ever made” as his VP pick. Romney continued by thanking his five sons, his campaign team and his supporters.

“We look to our parents…we look to job creators and we are counting on you to hire and move forward,” he said.

“I believe in America, I believe in the people of America and I ran for office because I’m concerned about America.”

Romney then ended saying, “Thank you, and God bless America,” as the crowd chanted “Mitt, Mitt…”

Check out a video clip of the speech below.