Tech entrepreneur Vivek Ramaswamy made a bold move on Wednesday (February 22) by announcing his 2024 US Presidential bid, making him the second Indian-American to enter the Republican Party’s Presidential primary after Nikki Haley.
Ramaswamy, 37, revealed his plan during a live interview on Tucker Carlson’s prime time show on Fox News, where he pledged to bring back meritocracy and reduce American reliance on China.
Vivek Ramaswamy early life and education
Vivek Ramaswamy was born on August 9, 1985, in Cincinnati, Ohio, to Indian immigrant parents. He grew up in a middle-class family in the suburbs of Ohio and attended St. Xavier High School, where he was an honors student and a varsity athlete.
Ramaswamy went on to study molecular biology at Harvard University, where he was also a member of the varsity tennis team. After graduating in 2007, he joined the consulting firm McKinsey & Company, where he worked on projects in the healthcare and financial sectors.
In 2010, Ramaswamy returned to Harvard to attend law school, where he became interested in the intersection of law, business, and healthcare. While in law school, he worked as a research assistant for Professor Alan Dershowitz and served as a legal intern for the U.S. Attorney’s Office in Boston.
How did Vivek Ramaswamy start his career
After graduating from law school in 2013, Ramaswamy worked briefly at the law firm Jones Day before deciding to pursue a career in entrepreneurship. He founded his first company, a biotech startup called Campus Venture Network, in 2013 while still in law school.
Ramaswamy’s entrepreneurial career took off in 2014 when he founded Roivant Sciences, a biopharmaceutical company that uses technology to develop and commercialize drugs. Roivant has since grown into a major player in the pharmaceutical industry, with several subsidiaries and a market capitalization of over $7 billion.
Vivek Ramaswamy at Roivant Sciences
Vivek Ramaswamy founded Roivant Sciences in 2014 and served as its CEO until 2021. During his tenure, Roivant developed a unique business model that focuses on acquiring and developing drugs that have been discarded by other companies for various reasons, such as lack of resources or strategic priorities.
Under Ramaswamy’s leadership, Roivant established several subsidiary companies that focused on different therapeutic areas, including Myovant Sciences (women’s health), Enzyvant Therapeutics (rare diseases), and Urovant Sciences (urology).
In 2018, Roivant went public through a merger with a special purpose acquisition company (SPAC) called Axovant Sciences. The merger was one of the largest SPAC deals of the time, raising $1.1 billion in proceeds. However, Roivant’s stock price struggled after the merger, and Ramaswamy stepped down as CEO in February 2021.
Despite the challenges, Roivant and its subsidiaries have made significant progress in developing new drugs for a variety of diseases. For example, Myovant Sciences has developed a drug for endometriosis and uterine fibroids that was approved by the FDA in 2020. Enzyvant Therapeutics is developing a treatment for a rare disease called Farber disease, and Urovant Sciences has developed a drug for overactive bladder that was approved by the FDA in 2019.
Ramaswamy’s experience at Roivant and his success in the biotech industry have made him a prominent figure in the healthcare and tech sectors. He has been featured in numerous media outlets, including Forbes, Fortune, and The Wall Street Journal, and has spoken at several conferences and events.
Why did Vivek Ramaswamy resign Roivant Sciences
Vivek Ramaswamy resigned as the CEO of Roivant Sciences in February 2021, citing a desire to focus on his family and personal life. In a statement announcing his resignation, Ramaswamy said that he was proud of what Roivant had accomplished and confident in its future prospects.
Ramaswamy’s departure came at a challenging time for Roivant and the biotech industry as a whole. Roivant’s stock price had struggled since going public through a SPAC merger in 2018, and the COVID-19 pandemic had disrupted clinical trials and drug development efforts around the world.
Despite these challenges, Roivant had made progress in developing new drugs under Ramaswamy’s leadership. In addition, Ramaswamy had established himself as a prominent figure in the biotech industry and was widely respected for his entrepreneurial vision and leadership.
After stepping down from Roivant, Ramaswamy announced his intention to focus on other endeavors, including philanthropy, public policy, and writing. He has since launched a podcast, called “The Great Reopening,” which explores the intersection of science, politics, and economics during the COVID-19 pandemic. Ramaswamy has also been involved in various political and policy initiatives, including supporting conservative causes and advocating for greater regulation of big tech companies.
Vivek Ramaswamy’s Strive Asset Management Company
Vivek Ramaswamy helped start a company called Strive Asset Management, which is located in Ohio. The company was supported financially by people like Peter Thiel and J.D. Vance.
Strive was created to provide an option for people who didn’t want to use big investment companies like BlackRock, State Street, and Vanguard.
Ramaswamy believes these companies mix business with politics and do things that are not good for their investors. Strive has over $500 million worth of assets under its management as of November 2022, and in January 2023, the company started a new service to help people vote in company elections. Some news organizations call Ramaswamy the leading person against environmental, social, and governance activities.
Vivek Ramaswamy’s wife
Vivek Ramaswamy and his wife, Apoorva, first met when they both lived near each other while attending Yale University. At the time, Ramaswamy was studying law, while Apoorva was pursuing a career in medicine as an assistant professor and clinician at the Ohio State University Wexner Medical Center.
The couple has been married for several years and has two children, both sons. Despite his busy schedule as an entrepreneur and investor, Ramaswamy has maintained a strong family life and is committed to spending quality time with his wife and children whenever possible.
Vivek Ramaswamy – Political views
Ramaswamy had reportedly considered running in the 2022 United States Senate election in Ohio. However, on February 21, 2023, he announced his official bid for the presidency of the United States in the 2024 election.
Vivek Ramaswamy is known for his conservative political views, and has been an active contributor to Republican campaigns and causes. He has spoken publicly about his concerns over what he perceives as a growing trend towards identity politics and cancel culture, and has been critical of what he views as excessive government regulation in certain areas.
Ramaswamy has been a vocal critic of big tech companies like Facebook and Google, and has advocated for greater regulation of these firms in order to protect free speech and prevent the spread of misinformation. He has also expressed skepticism about certain aspects of the environmental, social, and governance (ESG) movement, arguing that it can sometimes be used as a cover for political agendas.
While he has not held political office himself, Ramaswamy has been a prominent figure in conservative circles and has been mentioned as a potential candidate for elected office. In 2022, he launched a bid for the Republican nomination for President of the United States in the 2024 election, positioning himself as a candidate who would prioritize free speech, individual liberty, and national security.
Vivek Ramaswamy has been making waves with his strong opinions about what he calls “wokeism,” which he sees as a danger to traditional American values. He has also been critical of the trend towards incorporating ESG practices in corporate structures, arguing that they are being used to push a particular agenda.
In his bid for the Republican nomination for President of the United States, Ramaswamy has emphasized his commitment to bringing back the ideals that he believes once united Americans. He has expressed deep concern about the cultural divide in the country and has promised to work towards bridging this gap.
At the heart of Ramaswamy’s political platform is his mission to “bring merit back” and reduce America’s reliance on China. He views China as the greatest external threat to America and wants to strengthen American identity and spirit. If elected, Ramaswamy aims to promote free speech, self-governance, and meritocracy, and to restore a culture of merit in society.
Vivek Ramaswamy’s rivals for the 2024 US Presidential Elections
Vivek Ramaswamy’s presidential campaign faces significant challenges as he enters the race, with established politicians and a hostile media landscape opposing his views. Nonetheless, his steadfast dedication to his principles and his impressive record of achievements make him a formidable contender in the quest for the White House.
Recently, Nikki Haley, the former US Ambassador to the United Nations and a two-term ex-governor of South Carolina, announced her candidacy for the Republican Party’s nomination, declaring her intention to challenge her former boss, ex-US President Donald Trump, in the upcoming elections. Meanwhile, in November 2022, Trump himself announced his candidacy for a second non-consecutive term.
In the upcoming 2024 Presidential Election, there are only three registered Republican Party candidates so far, and interestingly, two of them are of Indian origin – Nikki Haley and Vivek Ramaswamy. The Democratic Party has not confirmed any official candidate yet. However, Kamala Harris, the first female US Vice President, is expected to declare her candidature, making her the third presidential candidate of Indian descent.
Ro Khanna, a Democratic congressman from California, is also rumored to be launching a bid for the presidency of the United States.
Winning the Republican Party’s presidential primary will be the first challenge for Ramaswamy and Haley, which is set to begin in January 2024. The winner of the 2024 US Presidential Election will be announced on January 20, 2025.
Vivek Ramaswamy books
His book “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” was a runaway success. The book’s meteoric sales was evident as it quickly soared to the second spot on The New York Times bestseller list. He followed it up with another book in 2022 – Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence.
Vivek Ramaswamy – Net Worth
Vivek Ramaswamy has an estimated net worth of $600 million and most of his earnings are through his investments, business ventures and book sales.
Vivek Ramaswamy’s salary as president
If he is elected as president, Vivek Ramaswamy’s salary will be $400,000 per year (salary for US president).. In addition to the salary, the President receives an expense allowance of $50,000 per year, a $100,000 travel account, and a $19,000 entertainment allowance. The President also receives benefits such as housing in the White House, medical care, and a pension plan.
Vivek Ramaswamy’s salary in Roivant Sciences
In 2022, Vivek Ramaswamy received a total compensation of $12,992,221 while serving as Chairman of the Board at Roivant Sciences Ltd. This amount was broken down into $150,000 received as Total Cash, $11,737,023 received as Equity, and $1,105,198 received as Pension and other forms of compensation. The source of this information is the proxy statements filed for the 2022 fiscal year.
