The President-Elect.
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The fact is, the one who gets the most votes wins. This system is called "simple majority election".
Electoral votes in the Electoral College determine the President and Vice President of the United States. Every state and DC are awarded a certain number of electoral votes with which to elect the President and Vice President. Each state has electoral votes equal to the total of the 2 representative the state has in the U.S. Senate plus the number of representative the state has in the House of Representatives. The electors in each state are elected in the presidential election and swear in advance to vote for the presidential candidate who wins the election in their state.
In this event the newly elected vice-president would take office on Jan. 20 . He would then nominate a new vice-president who would have to be approved by Congress in order to take office.
Formally the president is elected by a group of electors selected from each state and D. C. by their respective parties, called the electoral college. The electors then cast their votes for president and VP in December of an election year; majority wins. Ironically, electors may vote however they choose and are not bound by the results of the general election in November.
A person legally does not need a single popular vote to win a U.S. Presidential Election. It is up to each state to decide how it determines who gets appointed to the electoral college. For the past 150 years or so, with a few minor exceptions, every state has used the popular vote to make the determination, but if a state were to go back to having the state legislature appoint the electors, while it wouldn't be a popular move, it would be entirely within its rights. In order to win a presidential election, a person must receive votes for president from more than half of the appointed electors. However, if nobody gets that many votes, the electoral vote results matter only as far as determining from among who the House of Representatives will be electing the President.