New York — Vivek Ganapathy Ramaswamy, born on August 9, 1985, has made a mark not only as an American entrepreneur but also as a presidential candidate. His venture, Roivant Sciences, a pharmaceutical company founded in 2014, catapulted him into the business limelight. In February 2023, Ramaswamy took a bold step by declaring his candidacy for the Republican Party nomination in the 2024 United States presidential election.
Entrepreneurial Genesis
Ramaswamy’s story begins in Cincinnati, where he was born to Indian immigrant parents on August 9, 1985. His journey to entrepreneurship kicked off with the founding of Roivant Sciences in 2014, marking a significant foray into the pharmaceutical industry. Before this venture, Ramaswamy, a graduate in biology from Harvard College and a Yale Law School alumnus, had experience as an investment partner at a hedge fund.
Apart from Roivant Sciences, he co-founded Strive Asset Management, an investment firm, showcasing his versatility in the financial sector. His prowess in business is further evidenced by his estimated net worth of over $950 million as of August 2023, primarily derived from his biotech and financial ventures.
Political Aspirations
In a surprising turn of events, Ramaswamy entered the political arena by announcing his candidacy for the 2024 United States presidential election under the Republican Party banner. His decision to venture into politics is fueled by a belief that the United States is undergoing a national identity crisis, influenced by what he terms “new secular religions” such as COVID-ism, climate-ism, and gender ideology.
As a critic of environmental, social, and corporate governance initiatives (ESG), Ramaswamy aims to bring a unique perspective to the political landscape. His business acumen and critique of prevailing ideologies position him as a distinct candidate in the political arena.
Early Life and Education
Born into an Indian Hindu immigrant family, Ramaswamy’s upbringing in Ohio shaped his conservative values. He attended Cincinnati’s St. Xavier High School, graduating as valedictorian in 2003. His academic journey continued at Harvard University, where he earned a Bachelor of Arts in biology with summa cum laude honors in 2007.
During his time at Harvard, Ramaswamy demonstrated a penchant for debate and contrarian views, becoming the president of the Harvard Political Union. He delved into finance with internships at hedge fund Amaranth Advisors and investment bank Goldman Sachs. His senior thesis on ethical concerns related to creating human-animal chimeras earned him a Bowdoin Prize.
Post-graduation, Ramaswamy secured a post-graduate fellowship from the Paul & Daisy Soros Fellowships for New Americans, allowing him to pursue a Juris Doctor at Yale Law School. His association with future U.S. Senator J.D. Vance during this time marked the beginning of enduring connections in the political sphere.
Biotech Trailblazer: Roivant Sciences
In 2014, Ramaswamy founded Roivant Sciences, a biotechnology firm that garnered attention for its innovative approach. Roivant’s strategy involved acquiring patents for drugs from larger pharmaceutical companies and bringing them to market. Despite early successes, such as the IPO of Axovant Sciences, which initially soared to almost $3 billion in market value, Roivant faced setbacks, notably the failure of intepirdine in a large clinical trial.
Despite challenges, Roivant Sciences persisted and expanded its influence. In 2017, partnerships with entities like the Chinese state-owned CITIC Group and a $1.1 billion investment from SoftBank bolstered Roivant’s standing in the industry. Ramaswamy’s role extended beyond business, as he embraced the title of “scientist” while on the presidential campaign trail, emphasizing his contributions to medicine.
Strive Asset Management: Anti-Woke Investing
Ramaswamy’s entrepreneurial spirit extended to the founding of Strive Asset Management in 2022, co-founded with high school friend Anson Frericks. The firm, characterized by its “anti-woke” stance, attracted attention and support from notable investors like Peter Thiel, J.D. Vance, and Bill Ackman.
Strive Asset Management distinguishes itself through its anti-ESG philosophy, challenging prevailing environmental, social, and governance norms in the investment landscape. The firm’s flagship fund, DRLL, launched in 2022, reflects its “anti-woke” approach by focusing on the energy sector and advocating for oil exploration.
Despite initial prominence for its cultural stance, Strive Asset Management opted for a recalibration, acknowledging that its perceived political overtone limited growth opportunities. The firm, with assets totaling $845 million, continues to navigate the investment landscape under the leadership of CEO Matt Cole.
Presidential Campaign
Vivek Ramaswamy’s bid for the 2024 U.S. presidential election aligns with his critique of prevailing ideologies and his vision for addressing what he sees as a national identity crisis. His stance against corporate diversity, equity, and inclusion (DEI) and ESG initiatives takes center stage in his campaign, resonating with those who share his views on these matters.
While continuing to champion his business achievements, Ramaswamy aims to leverage his political journey to challenge existing norms and promote what he considers a return to excellence. His anti-woke philosophy, evident in Strive Asset Management’s investment approach, converges with his political narrative.
Personal Life
Beyond the business and political realms, Vivek Ramaswamy is known for his personal values and background. Raised in Cincinnati, Ohio, he attributes his commitment to standing out and being outstanding to his father’s advice. A nationally ranked tennis player and accomplished academic, Ramaswamy’s achievements extend to his personal life. He is married to Apoorva, a throat surgeon and Assistant Professor at the Ohio State University Wexner Medical Center, and together they are raising two sons. (GT)
