Democratic senator Barack Hussein Obama has created history.
Obama is the first ever US President from the African American community.
Barack Obama won two key battleground states, which gave him a strong lead in the US presidential race.
His projected win in Ohio, won by Republicans in 2004, was a crucial stepping stone to the White House.
Obama also took Pennsylvania. This was one of John McCain's main targets.
Obama seized Ohio, New Mexico and Iowa, now these were all Republican wins in the 2004 US elections.
Obama is also projected to have won Vermont, New Hampshire, Pennsylvania, Illinois, Delaware, Massachusetts, District of Columbia, Maryland, Connecticut, Maine, New Jersey, Michigan, Minnesota, Wisconsin, New York, California and Rhode Island.
John McCain is projected to have won Kentucky, South Carolina, Oklahoma, Tennessee, Arkansas, Alabama, Kansas, North Dakota, Wyoming, Georgia, Louisiana, West Virginia, Texas, Mississippi and Utah.
270 Electoral College votes from the states were needed for either Obama or McCain to win. So far Obama has won 338 and McCain 155.
John McCain conceded defeat in the last hour and said that his opponent until now, is his President from tonight and urged Republican supporters to back the new President, Barack Obama.
Reports have also just been received that current US President, George W Bush called President-elect Obama and congratulated him on the victory. Barack Obama is yet to speak.
Just to give you an indication on the US Presidential election campaign spending as we bring you the results on the new US President.
In the 2004 US elections between George W Bush and John Kerry, a total of half a billion US dollars was spent by the Bush and Kerry camps combined.
In this election, with 21 months of campaigning, it has been a record in spending with John McCain's team spending 924 million US dollars and Barrack Obama's camp spending 1.6 billion US dollars - the campaign spending itself is much more than Fiji's national budget.
Stay with us for updates on the US Presidential elections.
