WATCH: Mitt Romney’s Concession Speech: ‘I Pray for Obama’

Published:1:06 am EDT, November 7, 2012| Updated:6:20 am EDT, November 7, 2012|
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Failed challenger Mitt Romney was gracious as he finally conceded the election to Barack Obama around 12:55 a.m. Eastern Time.

"This a time of great challenges for America, and I pray that the president will be successful in guiding our nation," he said to a crowd of cheering supporters in Boston.

He thanked Paul Ryan, his sons, his campaign workers, but especially his wife Ann:

Ann "would have been a wonderful First Lady," he said. Aww.

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