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'''Vivek Ganapathy Ramaswamy''' ({{IPAc-en|v|ɪ|ˈ|v|eɪ|k|_|r|ɑː|m|ɑː|ˈ|s|w|ɑː|m|iː}} {{respell|vih|VAYK|_|rah|mah|SWAH|mee}}; born August 9, 1985) is an American businessman and political candidate. He founded [[Roivant Sciences]], an American pharmaceutical company in 2014.<Ref name=Wood /><!-- SEE TALK PAGE before altering first sentence --> In February 2023, Ramaswamy declared his candidacy for the [[2024 Republican Party presidential primaries|Republican Party nomination]] in the [[2024 United States presidential election]].<!-- Please DO NOT ADD RELIGION (Hindu) IN THE LEAD; see [[MOS:CONTEXTBIO]]: "Ethnicity, religion, or sexuality should generally not be in the lead unless relevant to the subject's notability."-->
'''Vivek Ganapathy Ramaswamy''' ({{IPAc-en|v|ɪ|ˈ|v|eɪ|k|_|r|ɑː|m|ɑː|ˈ|s|w|ɑː|m|iː}} {{respell|vih|VAYK|_|rah|mah|SWAH|mee}}; born August 9, 1985) is an American businessman and political candidate. He founded [[Roivant Sciences]], an American pharmaceutical company, in 2014.<Ref name=Wood /><!-- SEE TALK PAGE before altering first sentence --> In February 2023, Ramaswamy declared his candidacy for the [[2024 Republican Party presidential primaries|Republican Party nomination]] in the [[2024 United States presidential election]].<!-- Please DO NOT ADD RELIGION (Hindu) IN THE LEAD; see [[MOS:CONTEXTBIO]]: "Ethnicity, religion, or sexuality should generally not be in the lead unless relevant to the subject's notability."-->


Ramaswamy started his campaign claiming that the United States is in the middle of a national identity crisis precipitated by what he called "new [[secular religion|secular religions]] like [[COVID]]-ism, climate-ism, and gender ideology".<ref name=APEntersRace>{{cite news|url=https://apnews.com/article/religion-and-politics-united-states-government-2022-midterm-elections-ohio-e1c1cbe47763bd979b6b47557aee043d|date=February 21, 2023|title='Woke, Inc.' author Vivek Ramaswamy enters White House race|agency=[[Associated Press]]|quote='Ramaswamy, 37, formally launched his bid by decrying what he called a "national identity crisis" that he claims is driven by a left-wing ideology that has replaced faith, patriotism and hard work with "new secular religions" like climate-ism and gender ideology.' He believes that Americans are given the right to make something of themselves and should not be reliant on the government for providing it for them. |access-date=July 13, 2023|archive-date=July 13, 2023|archive-url=https://web.archive.org/web/20230713125113/https://apnews.com/article/religion-and-politics-united-states-government-2022-midterm-elections-ohio-e1c1cbe47763bd979b6b47557aee043d|url-status=live}}</ref><ref name="Kolhatkar">{{Cite magazine |last=Kolhatkar |first=Sheelah |date=December 12, 2022 |title=The C.E.O. of Anti-Woke, Inc. |language=en-US |magazine=[[The New Yorker]] |url=https://www.newyorker.com/magazine/2022/12/19/the-ceo-of-anti-woke-inc |access-date=June 22, 2023 |issn=0028-792X}}</ref> He is also a critic of [[Environmental, social, and corporate governance|environmental, social, and corporate governance (ESG) initiatives]].<ref name=hilljan21>{{cite web|url=https://thehill.com/homenews/campaign/3868741-conservative-entrepreneur-vivek-ramaswamy-announces-gop-presidential-bid/|title=Conservative entrepreneur Vivek Ramaswamy announces GOP presidential bid|access-date=February 24, 2023|first=Jared |last=Gans|date=February 21, 2023|work=[[The Hill (newspaper)|The Hill]]|archive-date=February 24, 2023|archive-url=https://web.archive.org/web/20230224060919/https://thehill.com/homenews/campaign/3868741-conservative-entrepreneur-vivek-ramaswamy-announces-gop-presidential-bid/|url-status=live}}</ref><ref name=CincinnatiBC>{{Cite news|first=Chris|last=Wetterich|title=A Look At the Race for Portman's Senate Seat|url=https://www.bizjournals.com/cincinnati/news/2021/01/26/a-look-at-the-race-for-portmans-senate-seat-and-a.html|date=January 26, 2021|work=[[Cincinnati Business Courier]]|url-access=subscription|access-date=October 28, 2021|archive-date=November 29, 2022|archive-url=https://web.archive.org/web/20221129043856/https://www.bizjournals.com/cincinnati/news/2021/01/26/a-look-at-the-race-for-portmans-senate-seat-and-a.html|url-status=live}}</ref> In August 2023, ''[[Forbes]]'' estimated his net worth at more than $950 million; his wealth comes from [[biotechnology|biotech]] and [[financial sector|financial]] businesses.<ref name=forbes08212023>{{cite news|first=Jamel|last=Toppan|url=https://www.forbes.com/sites/johnhyatt/2023/08/21/how-vivek-ramaswamy-became-a-billionaire/?sh=6f5f9d834fdf/|date=August 21, 2023|title=How Vivek Ramaswamy Became A Billionaire|work=[[Forbes]]|access-date=August 21, 2023}}</ref>
Ramaswamy started his campaign claiming that the United States is in the middle of a national identity crisis precipitated by what he called "new [[secular religion|secular religions]] like [[COVID]]-ism, climate-ism, and gender ideology".<ref name=APEntersRace>{{cite news|url=https://apnews.com/article/religion-and-politics-united-states-government-2022-midterm-elections-ohio-e1c1cbe47763bd979b6b47557aee043d|date=February 21, 2023|title='Woke, Inc.' author Vivek Ramaswamy enters White House race|agency=[[Associated Press]]|quote='Ramaswamy, 37, formally launched his bid by decrying what he called a "national identity crisis" that he claims is driven by a left-wing ideology that has replaced faith, patriotism and hard work with "new secular religions" like climate-ism and gender ideology.' He believes that Americans are given the right to make something of themselves and should not be reliant on the government for providing it for them. |access-date=July 13, 2023|archive-date=July 13, 2023|archive-url=https://web.archive.org/web/20230713125113/https://apnews.com/article/religion-and-politics-united-states-government-2022-midterm-elections-ohio-e1c1cbe47763bd979b6b47557aee043d|url-status=live}}</ref><ref name="Kolhatkar">{{Cite magazine |last=Kolhatkar |first=Sheelah |date=December 12, 2022 |title=The C.E.O. of Anti-Woke, Inc. |language=en-US |magazine=[[The New Yorker]] |url=https://www.newyorker.com/magazine/2022/12/19/the-ceo-of-anti-woke-inc |access-date=June 22, 2023 |issn=0028-792X}}</ref> He is also a critic of [[Environmental, social, and corporate governance|environmental, social, and corporate governance (ESG) initiatives]].<ref name=hilljan21>{{cite web|url=https://thehill.com/homenews/campaign/3868741-conservative-entrepreneur-vivek-ramaswamy-announces-gop-presidential-bid/|title=Conservative entrepreneur Vivek Ramaswamy announces GOP presidential bid|access-date=February 24, 2023|first=Jared |last=Gans|date=February 21, 2023|work=[[The Hill (newspaper)|The Hill]]|archive-date=February 24, 2023|archive-url=https://web.archive.org/web/20230224060919/https://thehill.com/homenews/campaign/3868741-conservative-entrepreneur-vivek-ramaswamy-announces-gop-presidential-bid/|url-status=live}}</ref><ref name=CincinnatiBC>{{Cite news|first=Chris|last=Wetterich|title=A Look At the Race for Portman's Senate Seat|url=https://www.bizjournals.com/cincinnati/news/2021/01/26/a-look-at-the-race-for-portmans-senate-seat-and-a.html|date=January 26, 2021|work=[[Cincinnati Business Courier]]|url-access=subscription|access-date=October 28, 2021|archive-date=November 29, 2022|archive-url=https://web.archive.org/web/20221129043856/https://www.bizjournals.com/cincinnati/news/2021/01/26/a-look-at-the-race-for-portmans-senate-seat-and-a.html|url-status=live}}</ref> In August 2023, ''[[Forbes]]'' estimated his net worth at more than $950 million; his wealth comes from [[biotechnology|biotech]] and [[financial sector|financial]] businesses.<ref name=forbes08212023>{{cite news|first=Jamel|last=Toppan|url=https://www.forbes.com/sites/johnhyatt/2023/08/21/how-vivek-ramaswamy-became-a-billionaire/?sh=6f5f9d834fdf/|date=August 21, 2023|title=How Vivek Ramaswamy Became A Billionaire|work=[[Forbes]]|access-date=August 21, 2023}}</ref>

Revision as of 18:56, 24 August 2023

Vivek Ramaswamy
Ramaswamy in 2023
Born
Vivek Ganapathy Ramaswamy

(1985-08-09) August 9, 1985 (age 38)
Cincinnati, Ohio, U.S.
EducationHarvard University (BA)
Yale University (JD)
TitleCo-founder and executive chairman, Strive Asset Management
Political partyRepublican
SpouseApoorva Tewari
Children2
Websitevivek2024.com

Vivek Ganapathy Ramaswamy (/vɪˈveɪk rɑːmɑːˈswɑːmiː/ vih-VAYK rah-mah-SWAH-mee; born August 9, 1985) is an American businessman and political candidate. He founded Roivant Sciences, an American pharmaceutical company, in 2014.[1] In February 2023, Ramaswamy declared his candidacy for the Republican Party nomination in the 2024 United States presidential election.

Ramaswamy started his campaign claiming that the United States is in the middle of a national identity crisis precipitated by what he called "new secular religions like COVID-ism, climate-ism, and gender ideology".[2][3] He is also a critic of environmental, social, and corporate governance (ESG) initiatives.[4][5] In August 2023, Forbes estimated his net worth at more than $950 million; his wealth comes from biotech and financial businesses.[6]

Early life

Ramaswamy was born on August 9, 1985, in Cincinnati, Ohio, to Hindu Tamil Brahmin immigrant parents.[3][7][8][9][10] He was raised in Ohio.[5] His family is from Kerala, India.[3][11][12] His father, V. Ganapathy Ramaswamy, a graduate of the National Institute of Technology Calicut, worked as an engineer and patent attorney for General Electric, while his mother, Geetha Ramaswamy, a graduate of the Mysore Medical College & Research Institute, worked as a geriatric psychiatrist.[3][13] His parents immigrated from Palakkad district in Kerala,[14][15] where the family had an ancestral home in a traditional agraharam in the town of Vadakkencherry.[14][16][17]

Growing up, Ramaswamy often attended the local Hindu temple in Dayton, Ohio, with his family.[18] His conservative Christian piano teacher, who gave him private lessons from elementary through high school, also influenced his social views.[3] He spent many summer vacations traveling to India with his parents.[16]

Education

Ramaswamy attended public schools through the eighth grade.[3][19] He then attended Cincinnati's St. Xavier High School, a Catholic school affiliated with the Jesuit order,[3][20] graduating in 2003.[21] He was class valedictorian and a nationally ranked junior tennis player.[3]

In 2007, Ramaswamy graduated from Harvard College with a Bachelor of Arts, summa cum laude, in biology, and was a member of Phi Beta Kappa.[22] At Harvard, he gained a reputation as a brash and confident libertarian.[23] He was a member of the Harvard Political Union,[1] becoming its president.[3] He told the Harvard Crimson that he considered himself a contrarian who loved to debate.[1] While in college, he performed Eminem covers and libertarian-themed rap music under the stage name and alter ego Da Vek,[3][24] and was an intern for the hedge fund Amaranth Advisors and the investment bank Goldman Sachs.[3] He wrote his senior thesis on the ethical questions raised by creating human-animal chimeras and earned a Bowdoin Prize.[22] In a 2023 interview, he also said that he was a member of the Jewish intellectual society Shabtai at Yale.[25]

In 2011, Ramaswamy was awarded a post-graduate fellowship by the Paul & Daisy Soros Fellowships for New Americans.[26] In 2013, he earned a J.D. from Yale Law School.[22] At that time, Ramaswamy was already wealthy from his involvement in the finance, pharmaceutical, and biotech industries; he said in 2023 that he had a net worth of around $15 million before graduating from law school.[23]

Business career

Early career

In 2007, Ramaswamy and Travis May co-founded Campus Venture Network, which published a private social networking website for university students who aspired to launch a business.[27] The company was sold in 2009 to the Ewing Marion Kauffman Foundation.[28]

Ramaswamy worked at the hedge fund QVT Financial from 2007 to 2014.[3][29][30][31] He was a partner and co-managed the firm's biotech portfolio.[29][30][28] QVT's biotech investments under Ramaswamy included stakes in Palatin Technologies,[28][32] Concert Pharmaceuticals,[28] Pharmasset,[33][34] and Martin Shkreli's Retrophin.[35] In a 2023 speech and in his book Woke Inc., Ramaswamy called Shkreli both "brilliant" and a pathological liar, but criticized the U.S. Department of Justice for prosecuting him, calling Shkreli's fraud a victimless crime.[35]

Roivant Sciences and subsidiaries

Ramaswamy in 2017

In 2014, Ramaswamy founded the biotechnology firm Roivant Sciences; the "Roi" in the company's name refers to return on investment.[31] The company was incorporated in Bermuda, a tax haven, and received almost $100 million in start-up capital from QVT and other investors,[31] including RA Capital Management, Visium Asset Management, and the hedge fund managers D. E. Shaw & Co. and Falcon Edge Capital.[28] Roivant's strategy was to purchase patents from larger pharmaceutical companies for drugs that had not yet been successfully developed, and then bring them to the market.[31] The company created numerous subsidiaries,[33][36] including Dermavant (which focused on dermatology), Urovant (which focused on urological disease), and China-based Sinovant and Cytovant, which focused on the Asian market.[33][37]

In 2015, Ramaswamy raised $360 million for the Roivant subsidiary Axovant Sciences in an attempt to market intepirdine as a drug for Alzheimer's disease.[30][38] In December 2014,[39] Axovant purchased the patent for intepirdine from GlaxoSmithKline (where the drug had failed four previous clinical trials) for $5 million, a small sum in the industry.[31] Ramaswamy appeared on the cover of Forbes in 2015, and said his company would "be the highest return on investment endeavor ever taken up in the pharmaceutical industry."[31][38] Before new clinical trials began, he engineered an initial public offering in Axovant.[31] Axovant became a "Wall Street darling" and raised $315 million in its IPO.[39] The company's market value initially soared to almost $3 billion, although at the time it only had eight employees, including Ramaswamy's brother and mother.[31] Ramaswamy took a massive payout after selling a portion of his shares in Roivant to Viking Global Investors.[31] He claimed more than $37 million in capital gains in tax year 2015.[31] Ramaswamy said his company would be the "Berkshire Hathaway of drug development"[3] and touted the drug as a "tremendous" opportunity that "could help millions" of patients, prompting some criticism that he was overpromising.[31]

In September 2017, the company announced that intepirdine had failed in its large clinical trial.[31][40] The company's value plunged; it lost 75% in one day and continued to decline afterward.[31] Shareholders who lost money included various institutional investors, such as the California State Teachers' Retirement System pension fund.[31] Ramaswamy was insulated from much of Axovant's losses because he held his stake through Roivant.[31][39] The company abandoned intepirdine. In 2018, Ramaswamy said he had no regrets about how the company handled the drug;[39] in subsequent years, he said he regretted the outcome but was annoyed by criticism of the company.[31] Axovant attempted to reinvent itself as a gene therapy company,[41] but dissolved in 2023.[31]

In 2017, Ramaswamy struck a deal with Masayoshi Son in which SoftBank invested $1.1 billion in Roivant.[31] In 2019, Roivant sold its stake in five subsidiaries (or "vants"), including Enzyvant, to Sumitomo Dainippon Pharma;[31][42] Ramaswamy made $175 million in capital gains from the sale.[31] The deal also gave Sumitomo Dainippon a 10% stake in Roivant.[42][43]

While campaigning for the presidency in 2023, Ramaswamy called himself a "scientist" and said, "I developed a number of medicines."[31] Although his undergraduate degree is in biology, he was never a scientist; his role in the biotechnology industry was that of a financier and entrepreneur.[31]

In January 2021, Ramaswamy stepped down as CEO of Roivant Sciences and assumed the role of executive chairman.[42][43] In 2021, after he resigned as CEO, Roivant was listed on the Nasdaq via a reverse merger with Montes Archimedes Acquisition Corp, a special purpose acquisition vehicle.[44] In February 2023, Ramaswamy stepped down as chair of Roivant to focus on his presidential campaign.[31][45]

Ramaswamy remains the sixth-largest shareholder of Roivant,[31] retaining a 7.17% stake.[46] Roivant has never been profitable.[44]

Roivant Social Ventures

In 2020, when Ramaswamy was CEO of Roivant Sciences, the company established a nonprofit social-impact arm, Roivant Social Ventures (RSV), with his support. A prior iteration of RSV was the Roivant Foundation. Although Ramaswamy has centered his presidential campaign on opposing corporate diversity, equity, and inclusion (DEI) and environmental, social, and corporate governance (ESG) initiatives, RSV worked in support of pro-DEI and ESG initiatives, including promoting health equity and diversity within the biopharma and biotech industries.[45] In 2023, while seeking the Republican presidential nomination, he downplayed his role in creating and overseeing RSV.[45]

Other ventures

In 2020, Ramaswamy co-founded Chapter Medicare, a Medicare navigation platform.[47] He served on the Ohio COVID-19 Response Team.[26]

He was chairman of OnCore Biopharma, a position he maintained at Tekmira Pharmaceuticals when the two companies merged in March 2015.[48] He also was chair of the board of Arbutus Biopharma, a Canadian firm.[28]

Anti-ESG/"anti-woke" activism and Strive Asset Management

In early 2022, Ramaswamy co-founded Strive Asset Management, a Columbus, Ohio-based asset management firm.[49] The firm raised about $20 million from outside investors,[44] including Peter Thiel, J. D. Vance, and Bill Ackman.[3][50][51]

Strive has positioned itself as an "anti-woke" and "anti-ESG" fund; Ramaswamy has criticized larger asset managers such as BlackRock, State Street, and Vanguard, alleging that their ESG activities mix business with politics and disadvantage shareholders.[3][52][53]

Pension-fund managers use ESG to evaluate long-term risk, including climate risks, in assessing portfolio and business decisions.[3][54] Ramaswamy has crusaded against ESG,[55][54] and emphasizes the doctrine of "shareholder primacy" first articulated by Milton Friedman.[3] In his book Woke, Inc.: Inside Corporate America's Social Justice Scam and elsewhere, he has depicted private corporations' socially conscious investing as simultaneously ineffective and the greatest threat to American society.[3] He published a second book, Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence, in September 2022, a few months before announcing his presidential candidacy.[56]

In January 2023, Strive launched a proxy advisory service to compete with such mainstream firms as Glass Lewis and Institutional Shareholder Services.[52] As of June 2023, Strive's total assets under management were approximately $750 million; net new deposits into Strive and two dozen other anti-ESG funds had slowed.[53]

In October 2022, Ramaswamy held closed-door meetings with South Carolina lawmakers in a session arranged by state treasurer Curtis Loftis; during the meetings, Ramaswamy pitched Strive to manage South Carolina pension funds.[57] In June 2023, after The Post and Courier reported on the meetings, the sessions were criticized as a form of unregistered lobbying; Ramaswamy's campaign manager denied any impropriety.[57]

Ramaswamy was Strive's executive chairman[3][58][51] before resigning in February 2023 to focus on his presidential campaign.[49][59]

Presidential campaign (2023–present)

Main article: Vivek Ramaswamy 2024 presidential campaign

Early political involvement

Ramaswamy said that he voted for the Libertarian Party presidential nominee in 2004 but did not vote in the presidential elections in 2008, 2012, or 2016.[60] He described himself as "apolitical" during this period.[61] He supported Donald Trump in the 2020 election.[60][61]

In November 2021, he registered to vote in Franklin County, Ohio, as "unaffiliated", but described himself as a Republican.[60] Ramaswamy has made political contributions to both Democrats and Republicans. From 2020 to 2023, he donated $30,000 to the Ohio Republican Party.[33] In 2016, he donated $2,700 to the campaign of Dena Grayson, a Florida Democrat running for Congress.[60]

Before running for president, Ramaswamy considered running in the 2022 election for U.S. Senate in Ohio.[62]

Campaign

Ramaswamy speaks at AmericaFest 2022

On February 21, 2023, he declared his candidacy for the Republican nomination for president of the United States in 2024 on Tucker Carlson Tonight.[63] Ramaswamy publicly released 20 years of his individual income tax returns and called upon his rivals in the primary to do the same.[31][51] His fortune has made up the vast majority of his campaign's fundraising.[44] From February to July 2023, Ramaswamy loaned his campaign more than $15 million; his campaign ended the second quarter of 2023 with about $9 million in cash on hand.[64] His fundraising lagged far behind Trump's and Ron DeSantis', but ahead of most of the other Republican primary candidates'.[64]

During his campaign for the Republican presidential nomination, he sought to appeal to evangelical Christian right and Christian nationalist voters, an important part of the Republican base, some of whom were unwilling to support a non-Christian presidential candidate such as Ramaswamy (who is Hindu).[18][65] In campaign stops and interviews, Ramaswamy has criticized secularism.[18] He said that the U.S. was founded on "Christian values"[18] or "Judeo-Christian values";[65] that he shares those values;[18][65] and that he believes in one God.[18]

While campaigning, Ramaswamy has called himself an "unapologetic American nationalist";[66] he has often attacked DeSantis but has avoided directly criticizing Trump.[66][67]

In May 2023, Ramaswamy's campaign admitted that he had paid an editor to alter his Wikipedia biography before announcing his candidacy, but denied that the payment for edits was politically motivated.[26] The edits to the Wikipedia biography removed references to Ramaswamy's postgraduate fellowship from the George Soros-funded Paul & Daisy Soros Fellowship for New Americans, as well as his involvement with the Ohio COVID-19 Response Team.[26][68] Paul and Daisy Soros are the elder brother and sister-in-law, respectively, of businessman and social activist George Soros, who has been the subject of numerous conspiracy theories among American conservatives.[69] Ramaswamy's campaign denied attempting to "scrub" his Wikipedia page and argued the edits were revisions of "factual distortions".[26]

Political positions

Although they are running against each other for the 2024 Republican nomination, Ramaswamy is a vocal supporter of Donald Trump.[70] After Trump's social media accounts were suspended following the January 6 attack on the Capitol, Ramaswamy and Jed Rubenfeld co-wrote a Wall Street Journal op-ed that called the attack "disgraceful", but argued that social media websites should be treated as state actors and that their ban of Trump violated the First Amendment.[5][71] Trump and Ramaswamy dined together at Trump National Golf Club Bedminster, Trump's club in New Jersey, in 2022, and spoke with each other at an April 2023 National Rifle Association of America convention.[72] Trump has praised Ramaswamy, writing on his social media website Truth Social, "The thing I like about Vivek is that he only has good things to say about 'President Trump.'"[72] After Trump was indicted on federal criminal charges in 2023, Ramaswamy immediately rallied behind him.[72] He gave a press conference outside the Miami courthouse where Trump was arraigned,[70] and promised to pardon him if elected president.[70][73]

Ramaswamy has promised to pardon Edward Snowden and Julian Assange, and has called Snowden's actions "heroic".[74] He has also indicated an openness to pardon Hunter Biden, if convicted of crimes, "in the interest of moving the nation forward".[75] He suggested that if nominated, he might consider Robert F. Kennedy Jr. as his running mate.[23][76]

Ramaswamy contends that identity politics promotes a "victimhood" culture and should be replaced by a "merit" culture that promotes excellence.[77][78] He also opposes affirmative action, calling it the "single biggest form of institutionalized racism in America today",[79][80] and vowing to rescind Executive Order 11246.[81] Ramaswamy has argued that American-style capitalism provides an antidote to India's caste system by offering lower-caste citizens more economic opportunities.[3] He opposes teaching critical race theory.[82]

Ramaswamy describes himself as pro-life,[83] and has said, "I think abortion is murder."[84] He supports state-level six-week abortion bans, with exceptions for rape, incest, and danger to the woman's life, but opposes a federal ban.[83][85]

Ramaswamy supports expanding presidential power; he has pledged to rule by executive fiat[23] to a degree unprecedented among modern U.S. presidents.[86] He supports abolishing the Department of Education and eliminating and replacing the FBI and IRS.[87] He asserts that the president has the unilateral power to abolish these agencies by executive order,[88] although under the Constitution, Congress has the power of the purse.[23] He has pledged to fire "at least half the federal workforce"[86] and dismantle federal civil service protections, turning federal jobs into at-will jobs.[89] He has called for an eight-year term for all government employees and pledged to revoke Executive Order 10988, the order issued by President John F. Kennedy that gave federal employees the right to collectively bargain.[89] He also has proposed repealing the federal law that requires presidents to spend all the money Congress appropriates.[23]

Ramaswamy favors raising the standard voting age to 25, which would require repealing the 26th Amendment to the Constitution.[90][91][92] This proposal would disenfranchise a portion of the U.S. electorate; voters under 25 made up nearly 9% of voters in the 2020 general election.[86] Ramaswamy has said he would allow citizens between 18 and 24 to vote only if they are enlisted in the military, work as first responders, or pass the civics test required for naturalization.[91][93][94] Ramaswamy supports voter ID laws.[95]

Ramaswamy supports making Election Day a federal holiday while eliminating Juneteenth as federal holiday. Ramaswamy called Juneteenth, which celebrates the emancipation of African-Americans from slavery, a "useless" and "made up" holiday, and asserted it was "redundant" to Martin Luther King Jr. Day and Presidents' Day.[96][97]

Ramaswamy has pledged to "use our military to annihilate the Mexican drug cartels"; Trump made similar promises, but never carried them out.[87] Ramaswamy has described himself as "not a war on drugs person"; he favors federal legalization of marijuana and expressed openness to some form of legal access to psychedelics.[98]

Ramaswamy has taken no public position on the 2017 Trump tax cuts.[99] In his book Nation of Victims, he expressed support for an inheritance tax rate as high as 59% and criticized intergenerational transfers of wealth, writing that they create "hereditary aristocracy".[60] He has called for ending the Federal Reserve's dual mandate (to control inflation and minimize unemployment), saying that the Fed's mission should be limited to controlling inflation.[99]

Ramaswamy favors "major concessions to Russia" in the Russo-Ukrainian war. He favors ending U.S. military aid to Ukraine, excluding Ukraine from NATO (saying he is "dead-set opposed" to it), and allowing Russia to occupy regions of Ukraine in exchange for an agreement that Russia end its alliance with China.[100][101] He called Ukrainian President Volodymyr Zelensky a "bully"[101] and in a 2023 interview made unsupported claims that Jews and other religious minorities have been poorly treated in Ukraine under Zelensky (who is himself Jewish).[102]

On the campaign trail, Ramaswamy has dabbled in political conspiracy theories,[103] suggesting without evidence that the "federal agents" might have been "on the planes that hit the Twin Towers" in the September 11 attacks.[104][105] He also made conspiracy-tinged remarks about the January 6 attack against the Capitol.[105]

Ramaswamy previously expressed support for Taiwanese independence,[106] and floated the idea of "putting a gun in every Taiwanese household" to deter an invasion by China. Later, however, he said that the U.S. should not militarily defend Taiwan from Chinese attack after the U.S. achieved "semiconductor independence," which he pledged to achieve by 2028.[107][108][109] Ramaswamy's proposal on Taiwan sharply diverge from the existing U.S. policy of strategic ambiguity, as well as President Biden's suggestion that the U.S. would protect Taiwan in the event of a Chinese invasion of the island.[108] Ramaswamy also says that he favors reducing U.S. military aid to Israel,[109] arguing that he could negotiate more Israeli-Arab bilateral agreements rendering U.S. aid unnecessary by 2028.[110]

Although he has described himself as "not a climate denier,"[46] Ramaswamy's statements contradict the scientific consensus on climate change.[111] In a 2023 Republican primary debate, Ramaswamy claimed that "the climate change agenda is a hoax"[112][103] and asserted, falsely, that "more people are dying of bad climate change policies than they are of actual climate change."[113][110] At other points, Ramaswamy has said that he accepts that burning fossil fuels causes climate change,[23] but described global climate change as "not entirely bad";[46] said that "people should be proud to live a high-carbon lifestyle";[46] and said that the U.S. should "drill, frack, burn coal."[23] He asserted that extracting and using more fossil fuels would grow the economy and help pay for climate change mitigation.[23] He has criticized what he calls the "climate cult" and said that as president, he would "abandon the anticarbon framework as it exists" and halt "any mandate to measure carbon dioxide".[114] In 2022, he urged Chevron to increase oil production[115] and criticized its support for a carbon tax.[46] Ramaswamy's company holds a 0.02% stake in Chevron.[115] He opposes subsidies for electric vehicles.[99]

Personal life

Ramaswamy's wife, Apoorva Ramaswamy (née Tewari), is a physician; he met her while studying law at Yale, where she was studying medicine. They have two sons.[3][116]

Ramaswamy is a monotheistic Hindu.[18][117] According to relatives, he is fluent in Tamil[118][119] and understands (but does not speak) Malayalam.[119] He is a vegetarian.[23][60] He has described himself as an animal rights activist, writing that it is "wrong to kill sentient animals for culinary pleasure."[60]

In 2023, Ramaswamy's campaign advisor said his net worth was more than $1 billion;[120] Forbes estimated it at more than $950 million.[44] He lived in New York City as of 2016.[121] As of 2021, he owned a house in Butler County, Ohio,[5] but in 2023, the only real estate he reported owning was a house in Columbus, Ohio, in Franklin County.[120]

Published works

  • Woke, Inc.: Inside Corporate America's Social Justice Scam. New York: Center Street. 2021. ISBN 978-1546090786. OCLC 1237631944.
  • Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence. New York: Center Street. 2022. ISBN 978-1546002963. OCLC 1546002960.
  • Capitalist Punishment: How Wall Street Is Using Your Money to Create a Country You Didn't Vote For. New York: Broadside Books. 2023. ISBN 978-0063337756. OCLC 1362864450.

See also

References

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External links

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