Updated

President Biden announced he is running for a second term as president official on Tuesday despite nearly half of Americans who voted for him in 2020 saying he should not run again.

Biden's campaign launch comes on the four-year anniversary of the launch of his 2020 campaign for president, and is expected to be done via a campaign video, according to reports last week.

A new USA Today/Suffolk University poll released Monday, which surveyed an equal amount of voters who backed Biden and former President Trump last cycle, found that about 40% of individuals who voted for Biden in the 2020 presidential election do not think he should seek re-election next cycle. About 35% of respondents said they would vote for a third-party candidate over Biden in 2024, even if it meant Trump was more likely to win the election.

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President Joe Biden

President Biden speaks with the media after the Council of Chief State School Officers' 2023 Teachers of the Year event in the White House Rose Garden on Monday, April 24, 2023. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Speculation swirled for months over whether Biden, who is 80, would run for re-election, with his team only saying he "intendeds to run," but not making any other statements in the affirmative. He said earlier this month, however, that an announcement about his potential candidacy would come "relatively soon."

Biden sent out exclusive invitations to some of his top donors from the 2020 campaign last week, asking them to attend a hastily-planned event at the White House, according to The New York Times.

If he wins re-election, Biden, who is currently the oldest president in U.S. history, would be 86 at the end of his second term in 2029.

Former President Donald Trump clapping

Former President Trump speaks to supporters at a rally to support local candidates on Sept. 3, 2022 in Wilkes-Barre, Pennsylvania. (Spencer Platt/Getty Images)

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Biden is currently facing Democratic primary challenges from environmental lawyer Robert F. Kennedy, Jr., and spiritual guru and self-help author Marianne Williamson.

He is facing an even more crowded field from the other side of the aisle as Republican candidates continue to line up to challenge Trump's front-runner status for the GOP nomination.

Williamson, Biden, Kennedy

2024 Democratic contenders Marianne Williamson, President Biden, Robert F. Kennedy Jr. (Scott Olson/Ting Shen/Joseph Prezioso)

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Fox News' Aubrie Spady contributed to this report.