Vivek Ramaswamy is an American businessman, author, and political candidate. He is the founder of Roivant Sciences, a pharmaceutical company that develops drugs for various diseases. He is also the co-founder of Strive Asset Management, an investment firm that offers “anti-woke” index funds. In February 2023, he announced his candidacy for the Republican Party nomination in the 2024 United States presidential election. But how much is Vivek Ramaswamy worth, and how did he achieve his success? In this blog post, we will explore Vivek Ramaswamy’s net worth, sources of income, career, and political views.
How Much is Vivek Ramaswamy Worth?
According to Forbes, Vivek Ramaswamy’s net worth as of August 2023 was more than $950 million, making him one of the youngest and richest self-made entrepreneurs in America. He was briefly a billionaire in early 2023, before a market downturn reduced his net worth slightly below the billion-dollar mark. He is also the second-wealthiest person competing in the Republican presidential primary, behind only Donald Trump (whose net worth Forbes last pegged at $2.5 billion).
Vivek Ramaswamy’s net worth mainly comes from his biotech and asset management businesses. He owns about 10% of Roivant Sciences, which went public in 2021 and has a market value of over $6 billion as of September 20232. He also owns a significant stake in Strive Asset Management, which was recently valued at around $300 million by investors. He has also diversified his wealth into other investments, such as cryptocurrencies, YouTube competitor Rumble, and crypto payments firm MoonPay.
How Did Vivek Ramaswamy Earn His Money?
Vivek Ramaswamy started his career in finance and biotech after graduating from Harvard University with a degree in biology in 2007. He worked as an intern for hedge fund Amaranth Advisors and investment bank Goldman Sachs while in college. He then joined hedge fund QVT Financial as an analyst in 2007 and became a partner in 2012. He also earned a law degree from Yale University in 2013.
In 2014, he left QVT Financial and founded Roivant Sciences with $5 million of his own money and $30 million from QVT Financial. Roivant Sciences is a biotech company that acquires or licenses drugs that have been abandoned or neglected by other pharmaceutical companies and develops them for various diseases, such as Alzheimer’s, cancer, diabetes, and rare disorders. Roivant Sciences has created over 20 subsidiaries or “Vants” that focus on different therapeutic areas or technologies.
Some of the notable Vants under Roivant Sciences are:
- Axovant Sciences: A neurology-focused company that develops drugs for Alzheimer’s and other neurological disorders.
- Myovant Sciences: A women’s health-focused company that develops drugs for endometriosis, uterine fibroids, prostate cancer, and menopause.
- Urovant Sciences: A urology-focused company that develops drugs for overactive bladder, irritable bowel syndrome, and urinary tract infections.
- Enzyvant Therapeutics: A rare disease-focused company that develops drugs for congenital athymia, a life-threatening condition that affects the immune system.
- Immunovant: An immunology-focused company that develops drugs for autoimmune diseases, such as Graves’ disease, myasthenia gravis, and thyroid eye disease.
- Aruvant Sciences: A hematology-focused company that develops gene therapies for sickle cell disease and beta thalassemia.
Roivant Sciences went public in 2021 through a merger with a special purpose acquisition company (SPAC) called Montes Archimedes Acquisition Corp., which was backed by billionaire hedge fund manager Bill Ackman. The deal valued Roivant Sciences at $7.3 billion and raised $611 million for the company. As of September 2023, Roivant Sciences has a market value of over $6 billion and has over 900 employees.
In 2021, Vivek Ramaswamy stepped down as CEO of Roivant Sciences and became its executive chairman. He also launched his political career by writing a book called “Woke, Inc.”, which criticized corporate America’s growing focus on social justice issues and the environmental, social, and corporate governance (ESG) movement taking over Wall Street. He argued that corporations are using “woke” rhetoric to distract from their own greed and corruption and to manipulate consumers and employees.
In 2022, he founded Strive Asset Management, an investment firm that offers “anti-woke” index funds that exclude companies that promote ESG or social justice agendas. He claimed that Strive Asset Management is the “world’s first woke-free asset manager” and that it aims to provide investors with better returns and lower fees than traditional index funds. He also said that Strive Asset Management will donate 50% of its profits to charities that support free speech, free markets, and individual liberty.
In February 2023, he announced his candidacy for the Republican Party nomination in the 2024 United States presidential election. He said that he is running to “restore the American dream” and to “defend the American way of life” from the threats of “wokeism”, “socialism”, and “China”. He also said that he is the best person to challenge President Joe Biden or Vice President Kamala Harris, as he is a self-made entrepreneur, a son of immigrants, and a person of color.
What are Vivek Ramaswamy’s Political Views?
Vivek Ramaswamy identifies himself as a conservative and a Republican. He supports lower taxes, smaller government, free markets, individual rights, and national security. He opposes abortion, gun control, illegal immigration, critical race theory, and cancel culture. He is also a vocal critic of China and its influence on the global economy, politics, and culture.
Some of his political views are:
- He believes that America is the greatest country in the world and that its founding principles are under attack by the radical left and the woke elites. He wants to preserve the American values of freedom, democracy, capitalism, and meritocracy.
- He believes that corporations are abusing their power and influence to advance their own interests and agendas at the expense of the American people. He wants to hold corporations accountable for their actions and prevent them from censoring or silencing dissenting voices.
- He believes that China is the biggest threat to America and the world. He wants to confront China on trade, human rights, intellectual property, cybersecurity, and military issues. He also wants to decouple America from China’s supply chains and markets.
- He believes that COVID-19 was a man-made virus that leaked from a lab in Wuhan, China. He wants to investigate the origins of the pandemic and hold China responsible for its cover-up and mishandling of the outbreak.
- He believes that climate change is not an existential crisis and that the Paris Agreement is a bad deal for America. He wants to promote energy independence and innovation rather than imposing costly regulations or subsidies on fossil fuels or renewable energy sources.
- He believes that health care is a personal choice and not a government mandate. He wants to repeal Obamacare and replace it with a market-based system that lowers costs, increases quality, and expands access. He also wants to reform the FDA and speed up the approval of new drugs and treatments.
- He believes that education is a key to opportunity and success. He wants to empower parents and students with more choices and options in education, such as charter schools, vouchers, homeschooling, online learning, and apprenticeships. He also wants to end federal funding for public schools that teach critical race theory or indoctrinate students with leftist ideology.
FAQs
Here are some frequently asked questions about Vivek Ramaswamy’s net worth and political views:
How did Vivek Ramaswamy become a billionaire?
Vivek Ramaswamy became a billionaire in early 2023 when his biotech company Roivant Sciences went public through a SPAC deal. His 10% stake in Roivant Sciences was worth over $700 million at the time of the IPO. He also had over $300 million in other assets, such as cash, stocks, bonds, cryptocurrencies, and his asset management firm Strive Asset Management.
Is Vivek Ramaswamy still a billionaire?
Vivek Ramaswamy is no longer a billionaire as of September 2023. His net worth has dropped slightly below the billion-dollar mark due to a market downturn that affected his biotech and asset management businesses. However, he is still one of the richest self-made entrepreneurs in America with a net worth of over $950 million.
What are Vivek Ramaswamy’s chances of winning the Republican nomination?
Vivek Ramaswamy’s chances of winning the Republican nomination are slim but not impossible. He is a political outsider with no prior experience in public office or government. He faces stiff competition from more established and popular candidates, such as Donald Trump, Ted Cruz, Nikki Haley, Ron DeSantis, Mike Pompeo, Tom Cotton, Kristi Noem, Tim Scott, Josh Haw
