How Vivek Ramaswamy Became A Billionaire

Standing in a packed New Hampshire restaurant, Vivek Ramaswamy, the fresh-faced Republican shaking up the 2024 presidential race, is making a case for unifying a bitterly divided nation. The secret, he insists, is as American as apple pie: capitalism.

“Democrats and Republicans alike, we tend to be more proud of a country when we’re all making more money in that country,” he tells 100 or so diners enjoying turkey sandwiches and diet Cokes. “We don’t have to flog ourselves for capitalism. Stop apologizing for capitalism. We should embrace capitalism.”

Ramaswamy certainly has. At 38 years old, the biotech investor and “anti-woke” warrior is worth more than $950 million. His net worth was over $1 billion about a week ago, making him one of the 20 youngest billionaires in the country, before a downturn in the market pulled him just under the billion-dollar threshold, according to Forbes’ calculations. Still, he appears to be the second-wealthiest person competing in the Republican presidential primary, behind only Donald Trump (whose net worth Forbes last pegged at $2.5 billion).

Ramawamy’s fortune stems from a drug-development company named Roivant Sciences, which went public in 2021. Its stock is up nearly 40% this year, boosting the value of Ramaswamy’s 10% stake to roughly $600 million. Since founding the company nine years ago, he has sucked over $260 million out of Roivant in the form of salary, bonuses and capital gains. He diversified those proceeds into a pretty standard investment portfolio, roughly 60% stocks and 40% bonds. But he also added some flavor, with a dash of Bitcoin and Ethereum, some shares of YouTube competitor Rumble and a stake in crypto payments firm MoonPay.

Then there are his political interests. In 2021, Ramaswamy stepped down as CEO of Roivant and got into politics, authoring a book called “Woke, Inc.,” which criticized corporate America’s growing focus on social justice issues and the ESG (environmental, social and governance) movement taking over Wall Street. A year later, he founded an “anti-woke” index fund provider—think BlackRock, without all the talk about saving the world—named Strive Asset Management. Investors recently valued Strive at a lofty $300 million or so, according to two individuals familiar with the financing, implying that Ramaswamy’s stake is worth well over $100 million.

0:00 Who is Vivek Ramaswamy?
02:05 Midwest Roots
02:42 Fight Against 'Wokeness'
04:54 Politics and ROI
07:54 Ramaswamy's Campaign Style
09:15 Controversies
11:56 What's Ramaswamy's Personality
13:44 What People Miss About Ramaswamy
15:00 What's Next For Ramaswamy

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[joshpoi]

Who are the people in these comments. Vivek's idea was brilliantly stupid - let me go buy drugs that have failed clinical trials and see what other use they have? Don't you think if there was a use the original pharm company would have marketed it for that so they can make money off it. And then the drug vivek bought he then conducted a study with his own mom as the lead, like hello, how stupid can you be. Ever heard of conflict of interest? He obviously did that on purpose to skew the results. Then as the interviewer said at around 11:00, none of his companies ever turned a profit and yet he is a billionaire. He basically took all the investors money and walked a away from a failed business.
This is one of the greatest legal scams in the history of mankind and he should have everything taken away, he is basically the male Elizabeth Holmes but he got away with it.

[jimablair]

Clueless liberal journalists trying to make sense of a moral man but failing miserably!

[paultexasusa]

Vivek is a proven leader in the real world, and he cannot be bought. Delete all your sensitive emotional opinions and promote Vivek.

[kobegoodall]

It might just be the way I’m perceiving this but it seems like this was created subjectively rather than objectively.

[joelamthach]

We need smart business men to run the white house....not idiots to ruin American economy...

[clint]

VOTE DEMOCRAT! Mexican here. An invasion is HIGHLY unlikely, due to many reasons:
- Being such trading partners it would totally ruin both economies (yes, the US would have MASSIVE setback lasting for years.) HOW STUPID CAN VIVEK BE!
- Historically, back in 1848 unprovoked invasion by USA, that happened and left a big resentment in the Mexican population at both sides of the current border. There are over 60 Millions raised and born in the US, who feel themselves Mexicans, because they are explicitly and actively attacked, because of their origin. Guess which side they'd take. Mexico.
- Focusing US resources in a war next door would deplete its strength in other parts of it.
- The world would at least frown upon it and the few respect the US has would be lost. Not like they care, anyways.
- Mexico is where most US citizens retire abroad. This is definitely bad news for the elderly.
- Mexicans are pretty proud and would definitely unite them against the US creating an exacerbated distaste for all US-related things and people. A big reason why there are (officially) NO military bases or units of the US in Mexico. thousands of Mexican, American, serving on all fields of US military arm forces. Guess which side they'd take?
- Being proudly, Mexicans would undoubtedly take arms in USA and start fighting back until death, e.g. have a look at the Mexican National Anthem.
- China and Russia, N Korea. Iran. Middle East. Latin American country's. salivate at the opportunity of paltering with Mexico. A world war would reach US mainland faster and stronger than ever.
If that invasion ever happens, the US should be ready for the shitshow of the century.Guess