Bush, who also fared poorly in earlier contests in Iowa and New Hampshire, cited the race had been "hard fought" but that voters of those three states had spoken.

In what appeared to be a jab at Republican frontrunner Donald Trump, whom Bush has accused of lacking ideas, the former Florida Governor said, "Ideas matter, policy matters."

Bush, the son of former President George HW Bush and brother to former President George W Bush, entered the 2016 campaign as the favorite, but was unable to convert a sizable fund-raising advantage into success at the polls.

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