Did Vivek Ramaswamy’s racist comments actually raise his net worth?
Ever wondered who the businessman making waves in the 2024 presidential race is? Let’s dive deep into the life, ventures, and controversies surrounding Vivek Ramaswamy.
Ramaswamy, known for his successful ventures in the biotech and finance world, boasts an impressive net worth of $800 million.
One of his major cash cows is Roivant Sciences. Back in 2020, Roivant made a jaw-dropping deal by selling five drugs and a slice of the company, totaling $3 billion, to a Japanese pharmaceutical giant. As a result, our man Vivek pocketed a cool $176 million that year alone. If you’re crunching the numbers between 2014 and 2022, he raked in a total of $260 million through salary, bonuses, and capital gains.
Roivant took a major leap forward in 2021 when they went public. Their market capitalization sat at a staggering $7.3 billion on the day of their merger. Fast forward to mid-August 2023, when Ramaswamy stepped onto the Republican debate stage, and the company’s value was up to $8.56 billion.
All this talk of billions might have you thinking Ramaswamy is in the billionaire’s club, but hold your horses – he hasn’t quite crossed that threshold yet.
Beyond Roivant, Vivek’s portfolio includes a juicy one-third stake in index fund provider, Strive Asset Management. As of mid-2023, Strive’s valuation was a neat $300 million, further sweetening Vivek’s personal fortune.
However, before politics beckoned, Ramaswamy was renowned for Roivant Sciences’ unique approach. They rescued forgotten and sidelined drugs, hoping to obtain FDA approval. Not all ventures were a hit, though. Axovant, a Roivant subsidiary, faced a sharp downfall after their primary Alzheimer’s drug failed to deliver. But, ever the entrepreneur, Vivek pivoted and co-founded Strive Asset Management in 2021.
More Than Just a Business Tycoon
Beyond the business world, Ramaswamy has also marked his territory in the literary realm. His published works, Woke, Inc.: Inside Corporate America’s Social Justice Scam (2021) and Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence (2022), position him as a staunch critic of the so-called “woke movement.” Politico even hailed him as a major voice against this trend.
Back in 2016, he clinched the 24th spot on “America’s Richest Entrepreneurs Under 40,” boasting a net worth of $600 million. Fast forward to 2023, and he’s made headlines as the Republican nominee for the US Presidency.
The Political Arena
Ramaswamy’s presidential bid isn’t just politics as usual. He wants to redefine the American Dream, emphasizing excellence over wealth. His debut in the first Republican debate of the 2024 campaign certainly left an impression. Despite some fiery remarks, particularly on climate change, Ramaswamy stood out and was widely regarded as the debate’s winner.
His foreign policy takes a unique direction, often diverging from traditional Republican views. He’s suggested reevaluating U.S. commitments to international bodies like NATO and the U.N. This has led to clashes with GOP heavyweights like former U.S. Ambassador to the U.N. Nikki Haley.
Ramaswamy’s stance on foreign intervention is indicative of a larger trend among younger conservatives, who are more averse to overseas commitments.
Where Does He Stand Now?
Ramaswamy’s political journey is far from over. His recent statements regarding foreign aid and military commitments, especially concerning Israel and Ukraine, have garnered attention.
His skeptical view of further U.S. interventions has seen him butt heads with established Republicans, most notably Nikki Haley. As the race heats up, with heavyweights like Florida Governor Ron DeSantis in the mix, it remains to be seen where Ramaswamy will ultimately land.
And as this rollercoaster of a campaign continues, we can’t help but ask: What’s next for Vivek Ramaswamy?