Vivek Ganapathy Ramaswamy is an American businessman and potential presidential candidate. Ramaswamy announced his intention to run in the 2024 US presidential election as a candidate for the Republican Party in February 2023.
He is the second wealthiest candidate in the Republican primary right after Donald Trump whose net worth is $2.5 billion. According to Forbes, Ramaswamy’s wealth is derived from the biotech and finance industries; as of August 2023, his net worth was estimated to be over $950 million.
How did Vivek Ramaswamy become so wealthy?
Following graduation, Ramaswamy became an expert in pharmaceutical investments at the hedge fund QVT. In the first seven years of his career, he made $7 million, and by the age of 28, he became a partner. He lasted only one year and quit.
It was then that he started an investment holding company named Roivant Sciences.
The real source of Ramawamy’s wealth is the 2021 IPO of Roivant Sciences, a drug-development business. Ramaswamy’s 10% investment in the company is now worth approximately $600 million thanks to the nearly 40% increase in its stock this year.
One year after the company was founded, Axovant, a spinoff of Roivant, went public at a valuation of $2.2 billion. Its most valuable asset was the much-hyped Alzheimer’s drug candidate, Intepirdine, which Ramaswamy had bought for a mere $5 million.
On his tax return, Ramaswamy declared more than $38 million in income, the majority of which came from capital gains, the year that Axovant began trading on the New York Stock Exchange.
He took more than $260 million from Roivant in the form of capital gains, bonuses, and salary since he founded the company nine years ago.
Using the proceeds, he expanded his holdings and put about 60% of them in equities and 40% in bonds. He invested in Ethereum and Bitcoin, bought some Rumble shares, an investment in the cryptocurrency payments company MoonPay, and some shares of rival YouTube.
During Rawamaswamy’s presidency, Roivant secured several lucrative deals. Most famously, in 2019 it signed a $3 billion agreement with the Japanese pharmaceutical giant Sumitomo Dainippon Pharma to buy five medications that Roivant was creating in addition to an 11% ownership in the business.
With a market valuation of $8.7 billion as of May, Ramaswamy’s 7% investment in Roviant is currently valued at approximately $609 million.
In 2021 he stepped down as CEO of Roivant and joined politics.
A year later, he launched Strive Asset Management, an “anti-woke” index fund provider. Recently, investors placed a whopping $300 million value on Strive.
What assets does Vivek Ramaswamy have?
He has two Ohio properties, both are valued at a total of $2.5 million.
What are some of Vivek Ramaswamy’s investments?
He has ownership interests in three private aircraft. This has allowed him to travel at any time and be able to spend time with his family whenever convenient.
What is Vivek Ramaswamy’s Net Worth as of 2023?
Vivek Ramaswamy is one of the youngest billionaires in America with an estimated net worth of $950 million.
Now, behind former President Donald Trump, he is the second-richest Republican running for president.
Conclusion
Having graduated from Harvard, his primary source of income has been his biotech company, which has made him a multimillionaire. The company created several medications based on an innovative concept.
The two enormous payouts, totalling more than USD 200 million, are what made him so wealthy. It’s what caused his net worth to skyrocket.
The initial payment was made in 2015, a year of great investor excitement surrounding the pharmaceutical empire he was attempting to establish. Five years later, he made a fortune by selling the most promising parts of Roivant Sciences to a Japanese conglomerate, which brought about the second payment.
