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Meet Vivek Ramaswamy, Harvard-Yale graduate, son of immigrants, now part of Donald Trump's cabinet, his net worth is...
Born in the US to Indian immigrant parents, Ramaswamy gained wealth through his biotech company
Updated : Nov 14, 2024, 07:44 AM IST
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Vivek Ramaswamy, a 39-year-old billionaire and key Trump ally, is a vocal supporter of capitalism, advocating for a unified America driven by economic excellence. Born in the US to Indian immigrant parents, Ramaswamy gained wealth through his biotech company, Roivant Sciences, and has investments across technology, cryptocurrency, and asset management. He popularised the term "excellence capitalism," promoting a business-first approach over social and political goals.
Ramaswamy’s wealth began with Roivant Sciences, founded in 2014, which specialises in acquiring and advancing underdeveloped drugs. His work attracted major investments, including a $3 billion deal with Japan’s Sumitomo Dainippon in 2020. By 2021, Roivant was valued at $7.3 billion, with Ramaswamy’s stake reaching around $511 million.
His ventures have also extended to cryptocurrency and digital platforms, including stakes in Rumble, a YouTube competitor, and MoonPay, a crypto payments firm.
Ramaswamy’s shift from biotech to politics began in 2021 with the publication of Woke, Inc., where he criticised corporate America's focus on social issues. He also founded Strive Asset Management, an “anti-woke” firm backed by investors like Peter Thiel, emphasising profit-focused operations. His approach contrasts with stakeholder capitalism, advocating for a return to traditional business values.
Ramaswamy’s background in both finance and politics, paired with his down-to-earth lifestyle—he owns two modest Ohio homes and holds shares in private jets only for family time—has helped him connect with supporters who appreciate his straightforward style. As he aims for political influence, he’s positioned himself as a leading voice for a capitalist-driven vision of America’s future.
