Vivek Ramaswamy Net Worth 2024-An Analysis By Tycoonstory

Successful entrepreneurs come from different walks of life, and they work hard to build their net worth. Some of them invest their money in various sectors to become millionaires. Vivek Ramaswamy is one such person who made millions of dollars through his entrepreneurial skills. He was in the US presidential election race in 2023 and quit politics in early 2024 due to several reasons. Vivek Ramaswamy net worth placed him in America’s top 20 youngest billionaires due to his achievements. His earnings might boost others, especially youngsters, to focus more on their goals and other things.

Who is Vivek Ramaswamy?

Vivek Ramaswamy is an American entrepreneur who gained attention worldwide when he announced as a Republican Party candidate for the 2024 US presidential election. He started campaigning for the Republic Party at the end of 2023. However, he withdrew his nomination and suspended his campaigns in January 2024. He is a successful businessman who earned his fortune through biotech and financial investments. Furthermore, he is a well-known author who has written some books.

The early life and education of Vivek Ramaswamy

Vivek Ramaswamy was born to Indian immigrant parents in Cincinnati, Ohio, on August 9, 1985. His parents come from a Tamil-speaking family in Kerala state, India. His mother, Geetha Ramaswamy, was working as a geriatric psychiatrist. Vivek’s father, Ganapathy Ramaswamy, is professional engineer who worked as an engineer and pattern attorney for General Electric (GE) company in India. His parents left for the US from Palakkad, Kerala, India.

He was raised in Ohio and attended public schools through eighth grade. Ramaswamy then graduated from the Jesuit school St. Xavier High School in 2003. In 2007, he received a Bachelor of Science degree in Biology from Harvard University with distinction. Vivek was a member of Phi Beta Kappa while studying in college. He won the Bowdon Prize for his thesis work, which was published in “The Boston Globe” and “The New York Times.”

The Paul & Daisy Soros Fellowships for New Americans awarded a postgraduate fellowship to Ramaswamy in 2011. It allowed him to study a Juris Doctor degree in law at Yale University, where he completed his graduation in 2013.

What is Vivek Ramaswamy’s net worth?

Before graduating from Yale Law School, Vivek Ramaswamy net worth was around $15 million. He co-founded the technology company known as “Campus Venture Network” with Travis May in 2007. The company introduced a private social networking website called StudentBusinesses.com for university students who want to start a business.

In 2009, he and May sold the company to the Ewing Marion Kauffman Foundation. On the other hand, the sale value is not known to others. Vivek joined QVT Hegde Fund Financial and worked there from 2007 to 2014. He was a partner in the firm and co-managed its biotech portfolio. Vivek earned $7 million in total compensation for 7 years in the company.

The net worth of Vivek’s will be around $900 million.

At the same time, some sources say that Vivek Ramaswamy net worth grossed more than $950 million in early 2024. He gets most of his earnings from a 7.71% stake in a company called Roivant Services, and he earned $175 million in 2020. According to reports, he built his wealth between 2014 and 2022 through salaries, bonuses, capital gains, etc.

Earnings from Roivant Sciences and subsidiaries

Ramaswamy founded a pharmaceutical company, Roivant Sciences, in 2014 through startup capital from QVT and other investors. The company’s main objective is to deliver medicines to patients faster with more efficiency. It will buy patents from larger pharmaceutical firms that are in the developing stage but have stagnated and completed due to several reasons. Roivant invests additional funds in them to finish the drug development process to get FDA approval and bring medicines to the market.

The company created many subsidiaries to develop drugs for various diseases. In 2015, Vivek raised $360 million for Roivant’s subsidiary, Axovant Sciences. It started to develop and sell an intepirdine drug for Alzheimer’s disease after purchasing the patent from another leading pharma company, GlaxoSmithKline, for $5 million.

GlaxoSmithKline’s intepirdine drug failed to pass four previous clinical trials, and Axovant offered an initial public offering (IPO) before starting new clinical trials. The company managed to raise $315 million through an IPO. However, Axovant’s market value initially soared to almost $3 billion.

Vivek decided to sell a portion of Roivant’s shares to Viking Global Investors, which is a hedge fund firm based in Greenwich, Connecticut. He managed to claim $37 million through capital gains in 2015.

Axovant faced criticism from others claiming that the company was overpromoting the intepirdine drug. The company declared that the drug had failed in its large clinical trial in 2017. As a result, Axovant’s value decreased to 75% in one day and continued to decline thereafter. The market cap dropped from $500 million to $20 million.

Ramaswamy has to take responsibility for the losses faced by investors because he held his stake through Roivant. Axovant planned to reinvent itself as a gene therapy company, but the company was dissolved in 2023.

Vivek struck a deal with SoftBank in 2017 that enabled him to raise $1.1 million. He sold five of Roivant’s subsidiaries to a Japanese pharmaceutical company, Sumitomo Dainippon, for $3 billion in 2020. Sumitomo acquired a 10% stake in Roivant that increased Vivek Ramaswamy net worth from capital gains in the same year and let him earn $175 million, adding more wealth.

Ramaswamy quit Roivant Sciences as CEO in January 2021 and became the executive chairman of the company. Roivant agreed to the SPAC merger a few months later in a deal that valued the company at $7.3 billion. Vivek Ramaswamy net worth was worth $511 million at that time, which made him the sixth-largest shareholder of the company because he retained a 7.17% stake.

Earnings from Strive Asset Management

Vivek, along with his school friend Anson Frericks, co-founded Strive Asset Management, which is an Ohio-based firm, in early 2022. The firm raised its funds from other investors. In November 2022, the firm’s assets surpassed $500 million and were valued at $300 million in mid-2023. Vivek Ramaswamy net worth was $100 million because he owned 1/3 stake earnings of Strive. He left Strive as the executive chairman in February 2023.

Vivek opposed ESG (environmental, social, and governance) investing, and he created an “anti-woke” index fund. Strive’s objective is to act as a riposte to big fund managers such as BlackRock that encouraged ESG investment policies. The company’s mission is to guide companies to “focus on excellence” over ESG concerns. Strive earned more profits and doubled its assets under Vivek’s management during his campaign for the US presidential elections. It increased Vivek Ramaswamy’s net worth from $500 million in early 2023 to $900 million in January 2024.

What are the other ventures of Vivek Ramaswamy?

Vivek Ramaswamy co-founded Chapter Medicare in 2020, which is a Medicare navigation platform. He was also the chairman of OnCore Biopharma and Tekmira Pharmaceuticals when both of them merged in March 2015. Furthermore, he was on the board of Arbutus Biopharma, which is a Canadian firm.

Ramaswamy believed that Buzzfeed’s stock value is undervalued, and he wanted to increase it in the market. Therefore, he discussed with the company’s board and management because it has struggled to go public since 2021. The company started to cut jobs due to poor digital advertising. He acquired a 7.7% stake in Buzzfeed in May 2024 and later increased to an 8.4% stake which made him the second largest stakeholder in the company.

Books and TV appearances

Ramaswamy is a good author, and his 2021 book “Woke, Inc.: Inside Corporate America’s Social Justice Scam” attained the No. 2 position, which was released by the “New York Times” Best Sellers list. He earned $203,860 in royalties through the book sales. As a result, he became very famous and started to appear on TV talk shows. He participated in various television shows “Wake Up America,” “Spicer & Co.,” “Fox Files,” etc.

Vivek Ramaswamy’s career in politics

Vivek entered politics on February 21, 2023, as a candidate for the US presidential election which allowed him to earn more income. He became richer after declaring his candidacy for the Republican presidential election. Vivek Ramaswamy net worth increased to more than $100 million during his Iowa campaign. Furthermore, he raised funds for the campaigns, which allowed him to become a millionaire.

Ramaswamy invested $17 million for his electoral campaigns during the first nine months, with $15 million as loans and $1.8 million in cash. He was greatly inspired by Donald Trump’s leadership qualities and skills. Furthermore, he started to campaign extensively for the 2024 Iowa Republican presidential caucuses, the first contest of the candidate selection process.

He raised his concern for various issues that made him popular. His mixture of conservative ideas and policy positions made a huge impact on voters, especially adults. At the same time, he also faced criticism from opposition party leaders.

His first policy was not to support the federal abortion ban. However, Vivek supported a state-level, six-week abortion ban. He supported exceptions in the abortion ban for cases involving rape, incest, and when the mother’s life is in danger.

As violent crimes are increasing in the US, Vivek suggested withholding federal funds from cities when they fail to protect Americans. He supported bringing back “involuntary commitment” in psychiatric institutions to reduce violent crimes.

Vivek’s other political positions include border immigration, climate change, the economy, inflation, social security, foreign affairs, childcare availability and costs, etc. Furthermore, he raised the voice for raising the standard voting age to 25 and

What are the assets of Vivek Ramaswamy?

Investments in Rumble

Rumble is an online video-sharing platform founded in 2013 by Canadian entrepreneur Chris Pavlovsk. The platform is very popular among American conservative and far-right users. It received investments from venture capitalists, including Vivek Ramaswamy. He invested $25 million on the platform to increase his net worth. Rumble had nearly 78 million active users as of August 15, 2022.

Cryptocurrency investments

Vivek Ramaswamy owns up to $300,000 in Bitcoin cryptocurrency to generate more income from the investments. Furthermore, he invested $100,000 in a cryptocurrency app named MoonPay.

Public equity holdings and activist investments

Vivek Ramaswamy holds small positions in a few public stocks and funds. He has a stake between $1-5 million in Apple Inc. and also owns a stake between $100,000-$500,000 in the Vanguard Total Stock Market Index Fund.

Company investments

Vivek Ramaswamy invested in leading companies valued at $250,000 to $5 million to increase his net worth. Some of them include Lockheed Martin, Waste Management, Home Depot, and Microsoft.

Vivek Ramaswamy’s net worth in 2023

Vivek Ramaswamy earned income through business ventures that allowed him to become a millionaire. In 2011, Vivek Ramaswamy net worth reached $1 million for the first time when he worked at QVT. He started Roivant Sciences in 2014 after leaving QVT and was the CEO until 2021.

His net worth started to increase every year, which let him become richer. He made $39 million in 2015 after selling part of his Roivant shares. He started to build his wealth after a few years. In 2020, he generated revenue of $50 million and $150 million in 2021.

In 2023, Roivant’s stock price rises to 25%, and he owns 6.4%% of the company, which is worth about $565 million. Vivek Ramaswamy net worth in 2023 was around $600 million when Roivant’s stock reached an all-time high of $13.19. Some sources said that his net worth increased to $950 million at the end of the year 2023.

What is the value of Vivek Ramaswamy house in Ohio?

Vivek Ramaswamy first lived in Manhattan in 2016, and he owned a house in Butler County, Ohio, in 2021. The Republican later declared that he owns just a single house in Columbus, Ohio. The value of Vivek Ramaswamy house in Franklin County, Columbus, Ohio, is between $3 million and $5 million. Nestled on 1.6 acres of beautifully manicured grounds, the residence has 11,300 square feet, and the couple paid $2 million for the property in May 2021. On the other hand, he still owns his first Ohio home, which is around $500,000.

Why did Vivek drop out of the US presidential race?

Vivek became one of the main contenders for the US presidential election in early 2023. In the early months of campaigns, he had one 30 interviews and appeared on more than 150 podcasts.

He gained more attention in the US presidential elections due to his active participation in the campaigns. The Iowa caucus is the first presidential ballot in the US, which represents a significant challenge for candidates.

Although Vivek Ramaswamy announced his candidacy for the US presidential election, he failed to impress the voters. As a result, he secured the last place in the Iowa caucus behind other competitors. Therefore, he decided to drop out of the 2024 presidential race.

He started to campaign for Donald Trump in presidential campaigns thereafter.
Vivek Ramaswamy’s history as a successful entrepreneur

Vivek achieved success in his business ventures owing to his leadership skills. His investment portfolio is vast, which made him achieve several milestones in life. Vivek Ramaswamy history as a successful businessman will motivate other entrepreneurs to generate more money. Furthermore, they can understand and learn more things from his entrepreneurial activities that will help them to build their wealth.

He revolutionized the pharmaceutical industry through the drug discovery and development process. Aside from that, Vivek Ramaswamy net worth rose to millions, which enabled him to create more wealth. His pharmaceutical company, Roivant Sciences, made a huge impact on investors, ultimately generating a high income.

His strategic partnerships and collaborations with other pharmaceutical firms enabled Vivek to earn income in billions. Vivek’s entrepreneurial vision and leadership have played a key role in Roivant’s success.

Apart from his business activities, he saw untapped potential in various industries, which let him diversify his portfolio through subsidiary companies. Furthermore, he has a keen eye on emerging trends to utilize lucrative prospects and mitigate risks with a single focus.
Strong decision-making skills are necessary for a company’s growth in the market, and Vivek Ramaswamy net worth tends to increase year by year. His innovative, transformative, and social change ideas made him a millionaire. His bold moves enabled Roivant Sciences to recover from losses caused by its subsidiary company, Axovant.

Roivant Sciences focused on specific therapeutic areas to allocate funds and expertise properly. This led to in-depth research and development activities to meet the requirements of each therapeutic area. Furthermore, the company attained great potential in the market to address the unmet medical needs of patients.

Moreover, dedication and encouraging pursuit of new strategies will definitely shape the entrepreneurial landscape. As a business leader and entrepreneur, Vivek’s accomplishments will boost new entrepreneurs to earn more income from various sources.

The personal life of Vivek Ramaswamy

Vivek Ramaswamy’s wife, Apoorva Tewari, is a surgeon and works as an assistant professor at the Ohio State University Wexner Medical Center. They met at Yale University and got married in 2015. The couple has two sons, and the family practices Hindu religion and traditions.

Vivek’s parents revealed that he is trying to understand both eastern and western culture and traditions. He is very active on social media platforms and has over 1.1 million followers on his X page, which was previously Twitter. He has a collection of expensive cars and spends his time with his family.

Philanthropic activities of Vivek Ramaswamy

Ramaswamy’s dedication to philanthropic activities extends beyond Roivant Sciences. He is a board member of Philanthropy Round Table, which is a Washington-based foundation. It is one of America’s leading networks of charitable donors that works on strengthening free society. Besides, he supports various charity activities with a commitment to improve the lives of others by making healthcare more accessible and equitable for all. His charity activities highlight the power of compassion and altruism to make a difference in the world.

What is Vivek Ramaswamy’s net worth in 2024?

Vivek generated most of his wealth from his pharmaceutical company and asset management company. His income reached $500 million in early 2023 and increased more at the end of the year. Vivek Ramaswamy net worth in 2024 is estimated at between $800 million and $900 million. On the other hand, Forbes says that his net worth may be around $ 950 million due to his potential earnings from his business ventures and political campaigns. Roviant’s share price increased to $11.13 in July 2024, and his stake was worth $900 million.

Is Vivek Ramaswamy a billionaire?

Many websites claim that Vivek has become a billionaire in early 2024, which is not true. This is because Vivek Ramaswamy net worth has never been high enough to make him a billionaire. Furthermore, there is no proper data that reveals the exact income of the business entrepreneur. His stake faced a sharp decline after January 2024, when he dropped out of the US presidential race.

However, Vivek Ramaswamy net worth may likely increase at the end of the year 2024, which will make him enter the list of billionaires. His potential for further advancements in the business and more investments might add wealth. Also, his future business endeavors will shape industries and transform society considerably.

Conclusion

Vivek Ramaswamy is one of the successful entrepreneurs who used his opportunities wisely after leaving his job. He deployed several strategies to grow his pharmaceutical and asset management businesses. Vivek Ramaswamy net worth might motivate others and make them millionaires. His entrepreneurial journey is a lesson to individuals who want to become entrepreneurs in the future.

Even though he is a controversial person in some areas, his wealth and other activities will create a positive social impact. Moreover, his revolutionary ideas made him an icon in the Pharma and other industry sectors which brought more investors to his company. He might come back strong in the US presidential race next time, although he dropped out of the elections.

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Source: Cosmo Politian