Construction magnate Hernandez concedes defeat in Colombia presidential race

Colombian construction magnate Rodolfo Hernandez conceded defeat in the Andean country's presidential contest on Sunday after he lost by more than 700,000 votes to leftist Gustavo Petro.

Hernandez, who refers to himself as the 'king of TikTok', ran a non-traditional campaign focused mostly on social media, repeatedly cancelling media interviews and barely appearing in public in the 10 days leading up to the vote.

"Colombians, today the majority of citizens have chosen the other candidate. As I said during the campaign, I accept the results of this election," Hernandez said in a video on social media.