In a statement on Tuesday, the former president said he would like to thank his “base” for coming out and voting for the candidate.
“The MAGA movement is bigger and stronger than before,” he said, hinting at a possible rerun for the 2024 presidential elections.
In a separate statement gloating over the big night, Mr Trump said he didn’t even have to rally for first-time candidate Mr Youngkin because Democrat candidate Terry McAuliffe tied down his competitor to the former president.
“It is looking like Terry McAuliffe’s campaign against a certain person named ‘Trump’ has very much helped Glenn Youngkin. All McAuliffe did was talk Trump, Trump, Trump and he lost,” the former president said.
He added: “What does that tell you, Fake News? I guess people running for office as Democrats won’t be doing that too much longer.”
Despite endorsing Mr Youngkin, Mr Trump never travelled to Virginia to rally along with the Republican hopeful. Instead, he held a virtual rally on the eve of the election on Monday.
Mr Youngkin in campaign trails, however, kept his distance from the former president. He never used Mr Trump’s name in rallies and kept his focus on state issues such as education, taxes and washrooms for transgender persons in schools.
The loss in Virginia comes as a major setback for Democrats, who have held the seat with a series of high profile wins multiple times over the decades.
The former president’s son, Donald Trump Jr, wrote a tweet attacking president Joe Biden.
“When Biden wakes up tomorrow afternoon, somebody's gonna have to tell him he’s now officially presiding over the collapse of the Democrat party,” he said.
Mr McAuliffe, prior to the elections, said the former president would pin his hopes on a Republican win to launch a bid for another presidential run.
“Trump wants to win here so he can announce for president for 2024. That’s the stakes of this election. He’s trying to get himself off the map,” Mr McAuliffe was quoted by CNN as saying.
Despite not making a formal announcement, Mr Trump has kept the door open for a presidential run in 2024 through crowdfunding and rallies.
Several of his allies, including Republican senator Lindsey Graham, had earlier hinted he was going to run again in 2024.
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