Vivek Ramaswamy, a biotech and pharmaceutical entrepreneur, entered the public eye by announcing his run for the United States presidency in February 2023. Despite his considerable wealth, reported to be around $950 million, Ramaswamy and his family lead a modest lifestyle, prioritizing community relationships over extravagant displays of affluence.
Ramaswamy’s fortune began taking shape during his tenure at a hedge fund, where by the age of 28, he had amassed $7 million. At 29, he founded Roivant Sciences and its subsidiary, Axovant Sciences, focusing on acquiring pharmaceutical drugs that major companies had disregarded. His strategy involved reviving drugs with potential societal value that had been sidelined unjustly. Notably, his acquisition of the Alzheimer’s drug Intepirdine from GlaxoSmithKline for $5 million led to Axovant Sciences’ public offering, elevating the company’s value to an astonishing $3 billion. However, Intepirdine’s clinical trial failures led to a significant decline in the company’s shares, prompting Ramaswamy to step down from his role as CEO in 2021, having secured substantial financial gains from his tenure.
Ramaswamy further made headlines by criticizing what he termed “woke” corporate practices in his book, “Woke, Inc.” He expanded his stance by establishing Strive Asset Management in 2022, aiming to counteract politicized corporate behavior and advocating for the empowerment of everyday citizens in the American economy. Strive successfully amassed over $1 billion in assets by September 2023. However, following Ramaswamy’s presidential aspirations, he stepped down as chairman of Strive, leaving the firm’s future trajectory uncertain.
Ramaswamy’s journey from hedge fund success to biotech entrepreneurship, his outspoken critiques of corporate “wokeness,” and his foray into investment management exemplify a dynamic trajectory marked by significant financial successes and endeavors aimed at social and economic change. As he shifts his focus toward political aspirations, his prior ventures and their ongoing impact on various industries remain an intriguing aspect of his profile.