Murphy, wife of New Jersey Gov. Phil Murphy (D), made the announcement in a video shared on X on Sunday.
“After many busy, invigorating and yes, challenging months, I am suspending my Senate campaign today,” she said in the video.
Murphy, a financier who formerly worked for Goldman Sachs, was in a competitive primary race against a number of Democrats including Kim. She has never held elected office but has maintained a portfolio as first lady since 2018.
Last week, Menendez announced he will not run as a Democrat in the race, but did not rule out running as an independent. He had faced political challenges since he was charged in September with bribery and other crimes while serving as chairman of the Senate Foreign Relations Committee.
According to the New Jersey Globe, which first reported the news, Murphy decided to end her bid on Saturday after a discussion with her family and advisers.
Murphy grew up a Republican and had made large donations to George W. Bush’s presidential campaigns, but had earned the support of many establishment Democrats in the state. Kim had been consolidating support from grass-roots Democrats.