Vivek Ramaswamy Net Worth
The astute Republican amassed a substantial fortune in banking and biotechnology, positioning himself as one of the wealthiest individuals in his thirties in the United States. He is wholly self-made, in contrast to Donald Trump.
Presenting his argument for bringing the sharply divided country together, Vivek Ramaswamy, the young Republican upending the 2024 presidential contest, is speaking in a crowded New Hampshire restaurant. He maintains that capitalism is the key, and it’s as American as apple pie.
He addresses the about one hundred diners who are eating turkey sandwiches and diet Cokes, saying, “Democrats and Republicans alike, we tend to be more proud of a country when we’re all making more money in that country.” For capitalism, we don’t have to flog ourselves. Give up your excuses for capitalism. We ought to support capitalism.
Vivek Ramaswamy Net Worth-
Undoubtedly, Ramaswamy has. The biotech entrepreneur and “anti-woke” crusader, who is 38 years old, is valued at over $950 million. According to Forbes estimations, he was among the 20 youngest billionaires in the nation with a net worth of over $1 billion approximately a week ago, until a market decline brought him close to the $1 billion barrier. Nevertheless, he seems to be the second wealthiest candidate in the Republican primary, only surpassed by Donald Trump (whose estimated net worth as of last year was $2.5 billion, according to Forbes).
The source of Ramawamy’s wealth is Roivant Sciences, a medical discovery business that went public in 2021. With its shares up about 40% so far this year, Ramaswamy’s 10% stake is now worth about $600 million. He has siphoned over $260 million in salary, bonuses, and capital gains from Roivant since he founded the company nine years ago.
With the funds, he diversified into a fairly typical investing portfolio consisting of about 40% bonds and 60% stocks. He did, however, add some spice by adding a dash of Ethereum and Bitcoin, along with some shares of Rumble, a rival to YouTube, and a stake in MoonPay, a cryptocurrency payments company.
His political interests come next. After leaving his position as CEO of Roivant in 2021, Ramaswamy entered politics and wrote a book titled “Woke, Inc.” in which he questioned Wall Street’s adoption of the ESG (environmental, social, and governance) movement and corporate America’s increased emphasis on social justice concerns.
A year later, he launched Strive Asset Management, a “anti-woke” index fund provider. Think BlackRock without all the hype about rescuing the world. According to two people familiar with the funding, investors recently valued Strive at an impressive $300 million or so, suggesting that Ramaswamy’s stake is well over $100 million.
Making a lot of money in a short period of time is impressive. Ramaswamy, whose mother is a psychiatrist and his father is an engineer and patent attorney, is an immigrant from India. He studied biology at Harvard and cofounded StudentBusinesses.com, a website that allows student entrepreneurs to pitch potential investors to professionals. The company was purportedly acquired by a private charity in 2009 for an unknown amount.
Following graduation, Ramaswamy worked as a pharmaceutical investment specialist at the hedge fund QVT. In the first seven years of his work, he made $7 million, and by the age of 28, he was a partner. He met Apoorva, a throat surgeon, who is now his wife, around the same time. In addition to working, he was able to graduate from Yale Law School, the most esteemed legal institution in the United States.
At the age of 29, Ramaswamy quit his position at QVT and founded Roivant Sciences, an investment holding company, with the support of a hedge fund. His argument was that pharmaceutical companies possessed a lot of unfinished products that, with careful attention, could be very valuable. One of Roivant’s spinoffs, Axovant, went public at a $2.2 billion value a year after the business was founded.
Its most valuable asset was Intepirdine, a highly anticipated Alzheimer’s medication candidate that Ramaswamy had paid just $5 million for. In the year when Axovant went public on the New York Stock Exchange, Ramaswamy declared on his tax return over $38 million in income, the majority of which came from capital gains.
Two years later, intepirdine failed a clinical trial, proving to be a disappointment. 2020 saw the company rename as Sio Gene Therapies, and it is currently valued at roughly $30 million. However, Ramaswamy also used other medications. 2020 saw the $3 billion purchase of five of them by the Japanese pharmaceutical behemoth Sumitomo Dainippon, along with a 10% ownership in Roivant. That year, Ramaswamy received his second large windfall, declaring $176 million in income, including $174.5 million in capital gains, on his tax return.
Abundant with wealth, Ramaswamy announced in a statement to shareholders in January 2021 that he was leaving his position at the company due to his “increasing public engagement.” Seven months later, he released his book, and at the same time, he founded Strive, an asset management company dubbed “anti-woke.”
In the Trillions podcast, Ramaswamy clarified, “We support this movement that we call ‘excellence capitalism,’ as a counterpart to stakeholder capitalism.” “The maxim of excellence capitalism is to prioritize providing your consumers with exceptional products and services over all other goals, including social and political ones. And it is not the same as stakeholder capitalism, which holds that you must consider 12 or 20 stakeholders at once.
Prominent financiers provided funding for Strive. Money was contributed by megadonor Peter Thiel, who has supported other “anti-woke” initiatives such as Rumble. Bill Ackman, the billionaire hedge fund manager who has made significant investments in the pharmaceutical sector and has a tennis court connection with Ramaswamy, did the same. Palantir’s forty-year-old cofounder Joe Lonsdale also made a contribution.
In spite of his wealth and connections, Ramaswamy appears to be quite at ease engaging in door-to-door campaigning in New Hampshire. He claims that not living the lifestyle of a tycoon helps. “I don’t believe we have led lives that are very different from our upbringing.” Less money than the combined real estate holdings of significantly less rich contenders including Francis Suarez, Nikki Haley, Robert F. Kennedy Jr., and President Joe Biden, he owns two residences in Ohio for a total of $2.5 million. We don’t have enormous vacation homes, according to Ramaswamy. “We can see the backyards of five of our neighbors. Our interactions with our neighbors are positive.
He acknowledges that private plane travel is an exception. Because he has ownership interests in three private aircraft, he can travel the nation at a leisurely pace and still return to Ohio to be with his wife and their two small children. He declares, “We would buy time if we could.” And that’s the only thing we can purchase with private aviation. Spending time with relatives.
It appears that voters understand that Ramaswamy lives in a different world. He was thanked by an elderly woman in Milford for coming to see “us cow-town people” in New Hampshire. The billionaire presidential hopeful shot back, seeming a touch embarrassed, “Oh c’mon.” “I am one of you.”
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FAQ
<strong>What’s the Net Worth of Vivek Ramaswamy?</strong>
$960 Million
