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Vivek Ramaswamy

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Vivek Ramaswamy
Ramaswamy in 2022
Born (1985-08-09) August 9, 1985 (age 39)
Cincinnati, Ohio, U.S.
EducationHarvard University (BA)
Yale University (JD)
Occupations
  • Businessman
  • author
TitleCo-founder and Executive Chairman, Strive Asset Management
Political partyRepublican
SpouseApoorva Tewari
Children2
Websitevivek2024.com

Vivek Ganapathy Ramaswamy (/vɪˈvɛk rɑːmɑːˈswɑːmiː/; born August 9, 1985) is an American entrepreneur. He is a small candidate in the 2024 Republican Party presidential primaries.

Ramaswamy founded the biopharmaceutical company Roivant Sciences in 2014, after working as an investment partner. Since 2020, he has written and spoken out against stakeholder theory, Big Tech censorship, and critical race theory. After leaving Roivant in 2021, he co-founded and is the executive chairman of Strive Asset Management, an investment firm opposed to the environmental, social, and corporate governance (ESG) framework.

Early life and education

Ramaswamy was born on August 9, 1985, in Cincinnati, Ohio, and raised there.[1][2] His parents immigrated from Vadakkencherry, Palakkad, Kerala, India.[3] His father graduated from the regional engineering college in Kerala and worked for General Electric as an engineer and patent attorney, while his mother graduated from Mysore Medical College and worked as a geriatric psychiatrist.[1][4]

Ramaswamy graduated in 2003 from St. Xavier High School in Cincinnati.[5][6] He was class valedictorian and had been a nationally ranked junior tennis player.[1]

In 2007, Ramaswamy graduated from Harvard College with a Bachelor of Arts, summa cum laude, in biology and membership in Phi Beta Kappa. He wrote his senior thesis on the ethical questions raised by creating human-animal chimeras and was a recipient of the Bowdoin Prize. An abstract of his thesis was published in The New York Times and The Boston Globe in 2007.[7] In 2011, Ramaswamy was awarded a post-graduate fellowship by the The Paul & Daisy Soros Fellowships for New Americans.[8] In 2013, he received a J.D. from Yale Law School.[7]

Business career

In 2007, Ramaswamy and Travis May co-founded Campus Venture Network, a technology company that provided software and networking resources to university entrepreneurs.[9] The company was acquired in 2009 by the Ewing Marion Kauffman Foundation.[10][failed verification]

From 2007 to 2014, Ramaswamy worked at QVT Financial, where he was a partner and co-managed the firm's biotech portfolio while simultaneously attending Yale Law School from 2010 to 2013.[11][12][failed verification] Ramaswamy served on the Ohio COVID-19 Response Team.[8]

Roivant Sciences

Ramaswamy speaking with attendees at the 2022 AmericaFest at the Phoenix Convention Center in Phoenix, Arizona

In 2014, Ramaswamy founded the pharmaceutical company Roivant Sciences, which focuses on applying technology to drug development, serving as CEO until 2021.[13]

He appeared on the cover of Forbes magazine in 2015 for his work in drug development.[14] The story was about Ramaswamy raising $360 million for the Roivant subsidiary Axovant Sciences in an attempt to save an Alzheimer's drug that had failed trials at GlaxoSmith Kline, possibly due to limitations of the setup of the trials.[12][14] In 2017, the drug also failed at Axovant. Axovant had a market value of $276 million as of June 2018.[1][15] In 2020, Ramaswamy co-founded Chapter Medicare, a Medicare navigation platform.[16] In early 2021, Ramaswamy stepped down as CEO of Roivant Sciences.[13]

Roivant Social Ventures (RSV)

In 2020, Ramaswamy supported RSV's[clarification needed] establishment of Roivant Social Ventures, which has been described as an environmental, social, and governance (ESG) initiative. RSV was created to "generate substantial social returns and reinvest financial returns to drive long-term impact".

Issue areas of interest to RSV include increased diversity in clinical trials and creating diversity, equity and inclusion (DEI) opportunities in the biopharmaceutical industry. RSV CEO Lindsay Androski has said that Ramaswamy approved of the creation of RSV.[17]

Strive Asset Management

Ramaswamy is the co-founder and executive chairman of Strive Asset Management, an Ohio-based asset management firm backed financially by Peter Thiel and J. D. Vance, among others.[18][1] Strive was established to offer an alternative to larger asset managers like BlackRock, State Street, and Vanguard, which Ramaswamy criticized for engaging in environmental, social, and governance (ESG) activities, and mixing business with politics to the alleged detriment of shareholders.[19]

Strive's total assets under management surpassed $500 million on November 11, 2022, three months after its first fund launched.[20] In January 2023, Strive launched a proxy advisory service to compete with such mainstream firms as Glass Lewis and Institutional Shareholder Services.[19] Axios and Bloomberg have called Ramaswamy "the leading anti-ESG crusader."[21][22]

Presidential campaign (2023–present)

Main article: Vivek Ramaswamy 2024 presidential campaign
Ramaswamy speaks at AmericaFest 2022

Before running for president, Ramaswamy considered running in the 2022 United States Senate election in Ohio.[23] On February 21, 2023, he declared his candidacy for president of the United States in the 2024 election on Tucker Carlson Tonight.[24] His campaign admitted in May 2023 that he had paid an editor to alter his Wikipedia page before announcing his candidacy, but denied that it was politically motivated.[8][25]

Political positions

Ramaswamy has argued that American-style capitalism provides an antidote to India's caste system by offering lower-caste citizens more economic opportunities.[1] He has proposed repealing a law that forces presidents to spend all the money Congress appropriates. He has said that he opposes teaching critical race theory. He opposes affirmative action, calling it the "single biggest form of institutionalized racism in America today".[26][27][28][29]

He has signaled support for a six-week abortion ban, with exceptions for rape, incest, and danger to the woman's life.[30] He supports abolishing the Department of Education, the Federal Bureau of Investigation (FBI), and the Internal Revenue Service (IRS), and supports an 8-year term for all government employees.[31]

Ramaswamy favors raising the voting age to 25 in most circumstances. The policy change, which would have to be done by constitutional amendment, would allow citizens between 18 to 24 to vote only if they are enlisted in the military, work as first-responder personnel, or pass a civics test.[32]

Ramaswamy favors "major concessions to Russia" in the Russo-Ukrainian war and ending military support to Ukraine because the "Sino-Russian alliance is the top threat we face." He supports banning Ukraine from NATO and allowing Russia to occupy regions of Ukraine in exchange for an agreement that Russia end its alliance with China.[33]

Personal life

Ramaswamy's wife, Apoorva, is an assistant professor and clinician at the Ohio State University Wexner Medical Center. He met her while studying law at Yale, where she was studying medicine.[1][34] They have two sons.[35] Ramaswamy is a Hindu.[36]

In 2016, Forbes estimated Ramaswamy's net worth at $600 million, and listed his residence as New York City.[37]

Published works

  • Ramaswamy, Vivek (August 17, 2021). Woke, Inc.: Inside Corporate America's Social Justice Scam. New York, NY: Center Street. ISBN 978-1-5460-9078-6. OCLC 1237631944.
  • ——— (September 13, 2022). Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence. New York, NY: Center Street. ISBN 978-1-5460-0296-3. OCLC 1546002960.

References

  1. ^ a b c d e f g Kolhatkar, Sheelah (December 12, 2022). "The C.E.O. of Anti-Woke, Inc". The New Yorker. Retrieved February 21, 2023.
  2. ^ "A Look At the Race for Portmans Senate Seat". Cincinnati Business Courier. American City Business Journals. Retrieved October 28, 2021.
  3. ^ Satish, A (February 24, 2023). "Palakkad roots that helped shape a US presidential hopeful". The New Indian Express. Archived from the original on March 2, 2023. Retrieved March 2, 2023.
  4. ^ Phandis, Shilpa (August 11, 2017). "Indian-origin biotech entrepreneur Vivek Ramaswarmy raises $1.1 billion". The Times of India. Retrieved March 25, 2023.
  5. ^ Schulte, Becky (July 25, 2015). "July 2015". St. Xavier High School E-news (Mailing list). St. Xavier High School. Retrieved July 26, 2015.
  6. ^ "Vivek Ramaswamy, 'Woke, Inc.' author, St. Xavier grad, enters Republican presidential race". The Cincinnati Enquirer. Associated Press. February 22, 2023. Retrieved March 25, 2023. Ramaswamy is a native of Butler County and a graduate of St. Xavier High School in Finneytown.
  7. ^ a b "Vivek Ramaswamy, 2011". The Paul & Daisy Soros Fellowships for New Americans. Retrieved February 22, 2023.
  8. ^ a b c Novak, Matt (May 3, 2023). "Wikipedia Editor Says They Were Paid To Change Vivek Ramaswamy's Page". Forbes. Retrieved May 3, 2023.
  9. ^ Lynch, Brendan (March 20, 2008). "Harvard Student Alum Launch Social Biz Site". Boston Business Journal. American City Business Journals. Retrieved May 20, 2023.
  10. ^ "Campus Venture Nework Overview". PitchBook. Retrieved February 8, 2023.
  11. ^ Vardi, Nathan (June 11, 2015). "The 29 Year Old Behind The Giant Biotech IPO That Rose By 90% Speaks". Forbes. Retrieved March 25, 2023.
  12. ^ a b Vardi, Nathan (September 27, 2015). "The 30-Year-Old CEO Conjuring Drug Companies From Thin Air". Forbes. Retrieved March 25, 2023.
  13. ^ a b "Roivant Sciences founder to step down as CEO". Reuters. January 25, 2021. Retrieved July 5, 2021.
  14. ^ a b Herper, Matthew; Vardi, Nathan (September 28, 2015). "Boy in the Bubble". Forbes. Retrieved February 26, 2023.
  15. ^ Herper, Matthew (July 9, 2018). "Vivek Ramaswamy's Enzyvant Asks FDA To Approve Treatment For Dying Babies". Forbes. Retrieved February 22, 2023.
  16. ^ "Chapter Announces $17 Million Series A Round, led by Narya Capital and Peter Thiel with participation from existing investors". Bloomberg. Bloomberg L.P. September 21, 2021. Retrieved August 17, 2022.
  17. ^ Gelman, Max (May 3, 2023). "Vivek Ramaswamy is running an anti-"woke," anti-China presidential campaign. It's a contrast to his time as CEO". Endpoints News. Retrieved May 12, 2023.
  18. ^ O'Donnell, Kathie (May 12, 2022). "Manager backed by Thiel, Ackman to launch ETFs emphasizing excellence over politics". Pensions & Investments. Retrieved July 25, 2022.
  19. ^ a b Wolman, Jordan (February 1, 2023). "The asset manager fighting ESG orthodoxy". Politico. Retrieved February 9, 2023.
  20. ^ Chandler, Beverly (November 16, 2022). "The US's Strive Asset Management raises half a billion in AUM in three months". ETF Express. Retrieved February 3, 2023.
  21. ^ Holzman, Jael; Freedman, Andrew (February 3, 2023). "The right's anti-ESG crusader". Axios. Retrieved February 10, 2023.
  22. ^ Brush, Silla, Kishan, Saijel (September 1, 2022). "The Anti-ESG Crusader Who Wants to Pick a Fight With BlackRock". Bloomberg News. Retrieved February 10, 2023.{{cite web}}: CS1 maint: multiple names: authors list (link)
  23. ^ Lippman, Daniel (February 13, 2023). "The 'CEO of Anti-Woke Inc.' Has His Eye on the Presidency". Politico. Retrieved February 21, 2023.
  24. ^ Astor, Maggie (February 22, 2023). "A Wealthy 'Anti-Woke' Activist Joins the 2024 Presidential Field". The New York Times. Retrieved February 22, 2023.
  25. ^ Moye, David (May 4, 2023). "Vivek Ramaswamy Campaign Insists Wikipedia Revisions Weren't A 'Scrub'". HuffPost. Retrieved May 5, 2023.
  26. ^ Curt Smith (February 10, 2023). "Curt Smith: Vivek Ramaswamy is a rising conservative star". Indianapolis Business Journal. Retrieved February 22, 2023.
  27. ^ Ramaswamy, Vivek (August 5, 2020). "Antitrust Can't Bust a Monopoly of Ideas". Wall Street Journal. Retrieved February 17, 2023.
  28. ^ Creitz, Charles (July 13, 2021). "Ramaswamy: 'Secular religion' of critical race theory now taught in schools violates Civil Rights Act of 64". Fox News. Retrieved July 16, 2021.
  29. ^ "The C.E.O. of Anti-Woke, Inc". The New Yorker. December 12, 2022. Retrieved May 3, 2023.
  30. ^ "Ramaswamy signals support for six-week abortion ban at state level". Washington Examiner. April 26, 2023. Retrieved May 3, 2023.
  31. ^ "America First 2.0". www.vivek2024.com. Retrieved May 3, 2023.
  32. ^ Allison, Natalie (May 10, 2023). "Vivek Ramaswamy wants to raise the voting age. Even his staff doesn't like the idea". POLITICO. Retrieved May 12, 2023.
  33. ^ "Vivek Ramaswamy Proposes 'Major Concessions to Russia' in Contentious Interview With ABC's Martha Raddatz". Mediaite. June 4, 2023. Retrieved June 4, 2023.
  34. ^ "Apoorva T Ramaswamy, MD". cancer.osu.edu. Ohio State University. Retrieved February 22, 2023.
  35. ^ Zito, Salena (February 21, 2023). "Vivek Ramaswamy runs for president: 'Unapologetic pursuit of excellence in this country'". Washington Examiner. Retrieved February 22, 2023.
  36. ^ Ramaswamy, Vivek (March 23, 2021). "The Pluralism Within". Fort Bend Independent. Retrieved February 22, 2023.
  37. ^ "Profile - Vivek Ramaswamy". Forbes. December 12, 2016. Retrieved February 23, 2023.
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