The financial success of entrepreneur and politician Vivek Ramaswamy has garnered significant attention in 2024. He recently made headlines for criticizing US President Joe Biden on X (formerly known as Twitter), remarking, “the Democrat Party served up an old man as their sacrificial lamb tonight,” following a debate between Biden and former President Donald Trump.
Many are curious about Ramaswamy’s net worth and the sources of his wealth. Below is a detailed overview of his financial status and how he accumulated his fortune.
Vivek Ramaswamy’s Net Worth in 2024:
Vivek Ramaswamy is estimated to have a net worth of $960 million in 2024. He is the founder of Roivant Sciences, a biopharmaceutical company, and Strive Asset Management, an investment firm. His vocal critiques of corporate America’s social justice initiatives have also raised his profile. Additionally, his candidacy for the 2024 U.S. presidential election has further increased his visibility.
Sources of Income:
Ramaswamy’s wealth comes from various sources. His primary income is derived from his 7.17% stake in Roivant Sciences, valued at approximately $565 million. He also co-founded Strive Asset Management and benefits from investments in Bitcoin, Ethereum, and Rumble. Additionally, he earns from book sales and speaking engagements.
Roivant Sciences:
Founded in 2014, Roivant Sciences acquires and develops undervalued drugs from larger pharmaceutical companies. Ramaswamy’s innovative approach and strategic acquisitions have significantly grown the company, which went public in 2021. His 7.17% stake in Roivant is worth about $565 million. In 2020, he reportedly gained $176 million when Sumitomo Dainippon acquired a 10% stake in Roivant and several subsidiaries for $3 billion.
Hedge Fund Manager:
Before founding Roivant Sciences, Ramaswamy worked at QVT Financial from 2007 to 2014, co-managing the firm’s biotech portfolio and making significant pharmaceutical investments. His early career in finance allowed him to accumulate wealth, reportedly earning $7 million in his first seven years and becoming a partner by age 28.
Strive Asset Management:
In 2022, Ramaswamy co-founded Strive Asset Management, positioning it as an “anti-woke” alternative to major asset managers like BlackRock. Strive focuses on maximizing returns without considering ESG criteria. His stake in Strive is valued at over $150 million, with the firm’s assets under management growing from $500 million to over $1.1 billion within a year.
Book Sales and Public Speaking:
Ramaswamy has authored several books, including the bestseller “Woke, Inc.: Inside Corporate America’s Social Justice Scam.” The success of his books and his popularity as a public speaker contribute to his income, with speaking engagements often earning substantial fees.
Investments and Real Estate:
Ramaswamy has broadened his financial portfolio with investments in bonds, cryptocurrencies, stocks, and real estate. He holds stakes in companies like Rumble and crypto payments firm MoonPay. His real estate portfolio includes a house in Columbus, Ohio, valued at over $2 million.
