Vivek Ramaswamy, an American entrepreneur, is running as a candidate in the 2024 Republican Party presidential primaries. Born in Cincinnati to parents who immigrated from India, Ramaswamy obtained a biology degree from Harvard College and subsequently completed his education at Yale Law School.
Bio/Wiki
Age-37years
Height- 5 Feet 7 Inches
Weight-71kg
Born- 9 August 1985
Birthplace- Cincinnati, Ohio, United States
Profession-Entrepreneur, Lawyer, Businessman
Spouse- Apoorva Tewari
Nationality-American
Party- Republican Party
Fullname- Vivek Ganapathy Ramaswamy
Family
Ramaswamy, born on August 9, 1985, in Cincinnati, Ohio, was raised in Ohio by his Indian Hindu immigrant parents. His father, V. G. Ramaswamy, graduated from Regional Engineering College, Kozhikode, and worked as an engineer and patent attorney at General Electric. His mother, Geetha Ramaswamy, graduated from Mysore Medical College and worked as a geriatric psychiatrist. They belong to the Tamil Brahmin community from Kerala, India. The family hails from Palakkad, where they had an ancestral home in a traditional Vadakkencherry agraharam village.
Wife
Apoorva Ramaswamy, the spouse of Ramaswamy, holds the position of an assistant professor and clinician at the Ohio State University Wexner Medical Center. Their paths crossed during their time at Yale, where Ramaswamy was pursuing law while Apoorva was pursuing medicine.
Children
The couple has been blessed with two sons.
Education
Ramaswamy completed his high school education in 2003 at St. Xavier High School in Cincinnati, where he achieved the status of valedictorian and demonstrated his talents as a nationally ranked junior tennis player.
In 2007, Ramaswamy graduated with distinction from Harvard College, earning a Bachelor of Arts degree in biology. During his time at Harvard, he embraced a libertarian ideology, living in Kirkland House and actively participating in the Harvard Political Union, eventually assuming the role of its president. Alongside his academic pursuits, he gained valuable experience through internships at Amaranth Advisors, a hedge fund, and later at Goldman Sachs, an investment bank.For his senior thesis, Ramaswamy explored the ethical dilemmas surrounding the creation of human-animal chimeras, a topic for which he was awarded the prestigious Bowdoin Prize. He summarized his findings in an op-ed published by the Boston Globe and subsequently republished in the New York Times. In recognition of his achievements and potential, Ramaswamy was granted a post-graduate fellowship by The Paul & Daisy Soros Fellowships for New Americans in 2011.
Continuing his academic journey, Ramaswamy pursued a Juris Doctor degree, which he obtained from Yale Law School in 2013. Prior to completing his legal education, he had already accumulated considerable wealth through his involvement in the finance, pharmaceutical, and biotech industries. As of 2023, Ramaswamy stated that his net worth was approximately $15 million before graduating from law school.
Career
Early Business Career
At the beginning of his professional journey, Ramaswamy, alongside Travis May, established Campus Venture Network in 2007. This technology company aimed to support aspiring entrepreneurs at universities by offering software and networking resources. Eventually, the Ewing Marion Kauffman Foundation acquired the company.
Following that, Ramaswamy spent seven years, from 2007 to 2014, working at QVT Financial, a hedge fund. During his tenure, he held the position of partner and was involved in the management of the firm’s biotech portfolio.
Roivant Sciences And Subsidiaries
In 2014, Ramaswamy founded Roivant Sciences, a pharmaceutical company focused on purchasing undeveloped drug patents and bringing them to market. He raised significant funds for subsidiary Axovant Sciences to develop a drug for Alzheimer’s. The company initially experienced success but later suffered a major setback when the drug failed in clinical trials. Ramaswamy sold part of his shares and faced criticism for overpromising. Axovant attempted to shift its focus to gene therapy but eventually dissolved in 2023. Ramaswamy struck a deal with SoftBank, and in 2019, Roivant sold its stake in five subsidiaries. Ramaswamy referred to himself as a scientist during his 2023 presidential campaign, although he had a financial and entrepreneurial role in the biotech industry. He stepped down as CEO of Roivant in January 2021 and as chairman in February 2023. He remains a significant shareholder, but Roivant has never been profitable.
Roivant Social Ventures
In 2020, under Ramaswamy’s leadership as CEO of Roivant Sciences, the company established a nonprofit called Roivant Social Ventures (RSV) with his backing. RSV, previously known as the Roivant Foundation, focused on promoting diversity, equity, and inclusion (DEI) and environmental, social, and corporate governance (ESG) initiatives. However, while running for the Republican presidential nomination in 2023, Ramaswamy played down his involvement in creating and overseeing RSV.
Anti-ESG Activism And Strive Asset Management
Ramaswamy is the co-founder and executive chairman of Strive Asset Management, an Ohio-based firm. Strive raised $20 million from investors like Peter Thiel, J. D. Vance, and Bill Ackman. It positions itself as an “anti-woke” and “anti-ESG” fund, criticizing larger asset managers for mixing business with politics. Ramaswamy opposes ESG and promotes shareholder primacy. Strive launched a proxy advisory service in January 2023. As of June 2023, Strive manages approximately $750 million in assets. Ramaswamy met with South Carolina lawmakers in October 2022 to pitch Strive for managing pension funds. The meetings faced criticism when reported in June 2023, with allegations of unregistered lobbying. Ramaswamy’s campaign manager denied any wrongdoing.
Political Positions
In summary, Ramaswamy is a vocal supporter of Trump and has rallied behind him even after Trump faced legal charges. He opposes critical race theory and affirmative action, and vows to repeal Executive Order 11246 if elected. Ramaswamy is pro-life and supports state-level abortion bans with exceptions. He advocates for expanding presidential power and abolishing the Department of Education, FBI, and IRS. He favors raising the voting age to 25 in most cases and proposes major concessions to Russia in the Russo-Ukrainian war. Ramaswamy acknowledges the impact of fossil fuels on climate change but believes in increasing their extraction and usage for economic growth.
Achievements
Vivek Ganapathy Ramaswamy has achieved several notable accomplishments throughout his career. Some of his achievements include:
- Founding Roivant Sciences: In 2014, Ramaswamy founded Roivant Sciences, a biopharmaceutical company focused on developing and commercializing innovative therapies to address unmet medical needs. Under his leadership, Roivant Sciences has grown into a prominent player in the pharmaceutical industry.
- Launching multiple subsidiary companies: As part of the Roivant Sciences umbrella, Ramaswamy successfully launched several subsidiary companies, each dedicated to a specific therapeutic area or medical need. These companies include Axovant Sciences, Myovant Sciences, Dermavant Sciences, and others, working on cutting-edge treatments for various diseases.
- Securing significant funding: Ramaswamy has been instrumental in securing substantial funding for Roivant Sciences and its subsidiaries. The initial start-up capital of nearly $100 million, as well as subsequent funding rounds, demonstrate his ability to attract investments and support the growth of the company.
- Clinical advancements and regulatory approvals: Through his leadership, Ramaswamy has overseen numerous clinical advancements and regulatory approvals for Roivant Sciences and its subsidiary companies. These achievements include successful clinical trials, FDA approvals, and the advancement of promising therapies in various disease areas.
- Entrepreneurial and industry recognition: Ramaswamy’s achievements have earned him recognition as a successful entrepreneur and industry leader. His contributions to the pharmaceutical sector and his innovative approach to drug development have been acknowledged by peers and industry experts.
Overall, Vivek Ganapathy Ramaswamy’s achievements demonstrate his entrepreneurial spirit, leadership abilities, and commitment to advancing healthcare through innovative pharmaceutical solutions.
Net Worth 2023
In 2023, it was reported by Ramaswamy’s campaign advisor that his net worth exceeded $1 billion, while Forbes estimated it to be around $630 million. Ramaswamy currently resides in New York City and previously owned a house in Butler County, Ohio as of 2021. However, in 2023, he has disclosed ownership of a house located in Columbus, Ohio as his only real estate property.
Latest News About Vivek Ramaswamy
Presidential Campaign 2024
Vivek Ramaswamy, a Republican candidate running for president, is introducing a unique incentive in his grassroots fundraising campaign. He plans to reimburse a portion of the funds raised by his supporters for his campaign. Ramaswamy, an entrepreneur who has largely self-funded his campaign, sees this initiative as a means to “democratize political fundraising” while also reducing the average donation size. By doing so, he aims to demonstrate broad support from grassroots voters rather than relying solely on wealthy donors.
Ramaswamy’s campaign has already garnered over 60,000 donors, surpassing the required threshold of 40,000 donors to qualify for the Republican presidential debate scheduled for August 23. The program, known as “Vivek’s Kitchen Cabinet,” will offer participants a 10% commission based on the total funds they raise for Ramaswamy’s presidential bid. Supporters will receive a unique fundraising link to share with potential donors, and they can monitor their progress through a personal dashboard provided by the campaign. Additionally, the campaign promises special rewards, including personal calls with the candidate and invitations to events.
To ensure eligibility, participants will undergo background checks conducted by a third-party agency, although the specific agency was not immediately disclosed by Ramaswamy’s campaign. The campaign asserts that it has received approval for the program from the Federal Election Commission, although some campaign finance experts raise ethical concerns regarding the introduced incentives.
As of the end of March, Ramaswamy had contributed over $10.5 million in loans and donations to his campaign. Brendan Fischer, a campaign finance expert at Documented, stated that he had never seen a program like this before. While he acknowledged that the program does not appear to violate any obvious legal regulations, he anticipated that the campaign’s payments to participants would be disclosed in future filings with the Federal Election Commission, as the participants would be treated as independent contractors. Dan Weiner, director of the Brennan Center’s Elections and Government Program, questioned whether the campaign would inform participants that their names may be disclosed as vendors.
While bundling, the act of soliciting groups of donors for campaign contributions, is a common practice in campaign fundraising, Ramaswamy’s program seems poised to expand this practice beyond the typically small circle of wealthy or well-connected individuals who tap into their networks for donations. Ramaswamy expressed his disapproval of the current system, where a select few individuals retain a large percentage, sometimes up to 10%, of the funds they raise. He believes that if such a system persists, it should be democratized, allowing everyone to benefit financially.