Vivek Ramaswamy’s net worth: Is the Republican presidential candidate a billionaire?
During last night's Republican presidential primary debate, Vivek Ramaswamy captured peoples' attention but how did he become the man he is today and is he a billionaire?
Vivek Ramaswamy has heated discussion with CNN's Don Lemon
Vivek Ramaswamy’s net worth is under scrutiny following his performance in last night’s presidential debate.
The Republican candidate was relatively unknown by millions of Americans earlier this year but his stance on “woke culture” and love for current frontrunner Donald Trump has captured peoples’ attention.
As it stands, Mr Ramaswamy has dethroned Florida Governor Ron DeSantis for the number two position.
Many expect the outspoken candidate to make more waves in the months ahead as the contest heats up.
However, many will be wondering how the entrepreneur made his money and what his net worth is.
What is Vivek Ramaswamy’s net worth?
When previously asked about his net worth, Mr Ramaswamy has described himself as a billionaire.
However, Forbes has estimated that his wealth is likely around $950million after taking a market dip pulled him.
Out of his fellow nominees, Vivek Ramaswamy is the second richest person to run for President.
He is only behind former President Donald J. Trump, whom the biotech investor has widely praised and has a net worth of $2.5billion.
How did Vivek Ramaswamy make his money?
The majority of the controversial politician’s money comes from Roivant Sciences, a drug development company that went public in 2021.
This year, the organization's stock is up 40 percent which has led to Mr Ramaswamy’s 10 percent stake hitting around $600million.
His rumoured stake in Strive, his asset management company, is estimated to be worth over $100million, according to Forbes.
In January 2021, Mr Ramaswamy left his company and told shareholders. due to his “increasing public engagement”.
Seven months later, he published his book Woke, Inc.: Inside Corporate America's Social Justice Scam which took aim at left-wing politics and socially liberal positions.
Following this, Mr Ramaswamy launched the “anti-woke” asset management firm Strive to marry his political outlook and financial background.
This asset management project has been bankrolled by conservative billionaires Peter Thiel and Bill Ackman.
Speaking to the Trillions podcast, the Republican presidential candidate outlined his vision for the financial world.
He explained: “We stand for this movement that we call ‘excellence capitalism,’ as a counterpart to stakeholder capitalism
“What excellence capitalism says is, to focus exclusively on delivering excellent products and services to your customers, above all other agendas, including political and social agendas.
“And that’s different from stakeholder capitalism, which says you’re supposed to take into account 12 or 20 stakeholders at the same time.”
