Presidential candidate Vivek Ramaswamy, despite withdrawing from the race, experienced a significant financial boost during his campaign. While competing for the Republican nomination in Iowa and nationwide over the past year, Ramaswamy’s wealth increased by over $100 million. Exiting the campaign, his estimated net worth rose to $960 million from around $840 million in February the previous year when he declared his candidacy. This gain surpassed the $17 million he invested in his campaign during the first nine months of 2023.
Ramaswamy’s financial portfolio includes a 6.4% stake in Roivant Sciences, a publicly traded drug development firm he founded in 2014. The company’s shares rose by 25% from the day he announced his candidacy to $10.86 per share, with a current value of $565 million. Roivant’s positive prospects are reflected in its stock reaching an all-time high, and analysts maintaining a buy rating.
Another significant asset is Strive Asset Management, an “anti-woke” investment company founded by Ramaswamy in 2022. Despite his resignation as executive chairman during the campaign, his majority stake in Strive is valued at around $150 million, following a financing round in November 2022.
During the campaign, Strive’s assets under management more than doubled, reaching over $1.1 billion, with a substantial increase coinciding with Ramaswamy’s rising popularity. Additionally, Ramaswamy holds an estimated $240 million in cash and personal assets.
While Ramaswamy’s next steps remain undecided, possibilities include a return to Strive or the private sector. A return to Roivant seems unlikely due to public disagreements with the company’s CEO over Ramaswamy’s views on the FDA. Speculation about a role in a potential second Trump administration exists, despite recent criticisms from Trump’s camp. Ramaswamy, known for his financial backing and loyalty to Trump, continues to be a prominent figure in the political landscape.