A prominent and outspoken name in the real estate industry is reacting to President Biden no longer seeking re-election, claiming the Democratic Party isn’t what it used to be.

“The Democratic Party I grew up being part of is no longer about regular people. Now we know it’s all been a sham,” entrepreneur and Cardone Capital CEO Grant Cardone told Fox News Digital just one day after Biden’s announcement.

“First thing I thought when I heard Biden would not run was, ‘We’ve been lied to for over four years,’” he continued. “He should immediately step down.”

Biden took to X Sunday to post a letter stating he’s dropping out of the 2024 race, and minutes later said he would be endorsing Vice President Kamala Harris to top the ticket.

Since the first presidential debate in June, Biden had faced waves of defections from Democratic lawmakers calling on him to withdraw from the presidential race following multiple shaky public performances.

“The idea that he can continue to be the leader of the United States for five more months is insane,” Cardone said. “Knowing his compromised condition, it also means that our country is in ruins not being run by him, but by others … There was not even an explanation to ‘we the people.’”

“The Democratic Party I grew up being part of is no longer about regular people. Now we know it’s all been a sham,” said entrepreneur and Cardone Capital CEO Grant Cardone.Fox Business

“The idea that he can continue to be the leader of the United States for five more months is insane,” Cardone said.Fox Business

Sunday’s news only solidified Cardone’s endorsement of former President Donald Trump.

“Personally, I know I can trust him to deregulate business, protect America, put an end to the nonsense, inspire the greatest middle-class wealth expansion,” Cardone explained, “and he’ll be great for real estate, which is in big trouble if we don’t lower interest rates immediately.”

“I’m in the South of France, and people from France, England, Dubai, Serbia, Canada and Colombia have come up to tell me they can’t believe what is happening in America … They want Trump. These are some of the most successful people in the world,” the real estate tycoon added. “They believe him getting up after the assassination [attempt] makes it clear: Trump is the best thing for America and world peace.”

President Biden had faced waves of defections from Democratic lawmakers calling on him to withdraw from the presidential race.AFP via Getty Images

Biden announced Sunday he is no longer seeking re-election.AP

According to Cardone, US home buyers and sellers became more optimistic about the market following Trump’s assassination attempt at a Pennsylvania rally just over one week ago.

“[Trump] is the only person living today who can save the American Dream,” he said.

“Trump will destroy Kamala, because the policies she stood for and took a knee for have failed. I doubt she will poll well enough for Democrats to nominate her,” the Cardone Capital founder said.

“No one can beat Trump! Not even Barack, if he could run again. America wants success again.”