Donald Trump has confirmed today he will not run for President in the 2012 election.

The announcement comes one week after he fell from first placed candidate to fifth place among Republicans in a survey by the Public Policy Polling organization.

The 64-year-old real estate mogul kept America guessing for months over whether he would run for the 2012 Republican nomination, amongst intense media speculation.

The decision ‘does not come easily or without regrets’, he said in a statement. ‘I am not ready to leave the private sector.’

Mr. Trump added that if he was to run, he thought he could win the Republican primary race and would win the presidency.

‘I maintain the strong conviction that if I were to run, I would be able to win the primary and ultimately, the general election,’ he said.’

Mr. Trump has vowed to continue to speak out on important issues including the country’s debt and ability to globally compete with China.

Mr. Trump insisted he will not fade from politics and claimed he will back whichever candidate is ‘the most qualified to help us tackle our country’s most important issues’.

On a lighter note, Donald Trump revealed that he does not dry his hair; he lets it dry by itself. It takes about an hour.