How Vivek Ramaswamy Got Richer Despite Pumping Millions into His Failed Presidential Campaign

Vivek Ramaswamy, a biotech entrepreneur and founder of Roivant Sciences, embarked on a presidential campaign in 2023, despite the odds against him. While his campaign ultimately failed, Ramaswamy's wealth surprisingly increased during this period. Here's how he managed to grow his fortune despite investing heavily in his political ambitions.

Background: Vivek Ramaswamy's Rise to Wealth

Ramaswamy's journey to becoming a billionaire began with his education at Harvard and Yale. He graduated with a degree in biology from Harvard in 2007 and later earned a law degree from Yale in 2013. Before founding Roivant Sciences in 2014, he worked at QVT Financial, managing their biotech portfolio and earning about $7 million between 2007 and 20146.

Roivant Sciences: The Core of His Wealth

Roivant Sciences is the cornerstone of Ramaswamy's wealth. The company focuses on acquiring underdeveloped pharmaceuticals and advancing them through clinical trials. Key milestones include:

• Myovant Sciences IPO: In 2016, Ramaswamy played a crucial role in launching Myovant Sciences, a Roivant subsidiary, which had the largest biotech IPO of that year, raising $218 million16.

• Sumitomo Dainippon Deal: In 2020, Sumitomo Dainippon acquired a 10% stake in Roivant and five of its drugs for $3 billion. This deal netted Ramaswamy an estimated $176 million in capital gains15.

Diversification and Other Ventures

Beyond Roivant, Ramaswamy diversified his investments:

• Strive Asset Management: Founded in 2022, this "anti-woke" investment firm challenges traditional ESG investing practices. It attracted significant backing and grew rapidly, with assets surpassing $1 billion by September 202326.

• Cryptocurrency and Stocks: Ramaswamy holds stakes in Bitcoin and Ethereum, and his investment portfolio includes a mix of stocks and bonds15.

• Other Investments: He has invested in companies like Rumble and MoonPay, reflecting his interest in digital technologies15.

The Presidential Campaign

Ramaswamy's presidential campaign was largely self-funded, with him contributing over $17 million in the first nine months of 20234. Despite this significant investment, his wealth increased by over $100 million during the campaign period. This growth can be attributed to the continued success of Roivant Sciences and his other business ventures.

How He Got Richer

While investing millions in his campaign, Ramaswamy's wealth grew due to several factors:

• Roivant's Continued Success: The company's valuation and performance continued to rise, benefiting Ramaswamy's stake.

• Strategic Investments: His investments in emerging technologies and financial instruments performed well.

• Diversification: Spreading his wealth across different sectors helped mitigate risks and maximize returns.

In summary, Vivek Ramaswamy's wealth increased during his presidential campaign due to the ongoing success of Roivant Sciences, his strategic investments, and diversification across various sectors.

Sources:

1. Economic Times - Vivek Ramaswamy's Net Worth: How Harvard-Yale graduate became a billionaire by reviving sick pharma companies
   https://economictimes.com/news/new-updates/vivek-ramaswamys-net-worth-how-harvard-yale-graduate-became-a-billionaire-by-reviving-sick-pharma-companies/articleshow/115238155.cms

2. NDTV - Who Is Vivek Ramaswamy, The Biotech Entrepreneur Now Part Of Donald Trump's New Government Initiative
   https://www.ndtv.com/world-news/who-is-vivek-ramaswamy-the-biotech-billionaire-now-part-of-donald-trump-s-new-government-initiative-7010367

3. Forbes - How Vivek Ramaswamy Got Richer While Pumping Millions Into Failed Presidential Campaign
   https://www.forbes.com/sites/johnhyatt/2024/01/17/how-vivek-ramaswamy-got-richer-while-pumping-millions-into-failed-presidential-campaign/

4. Investopedia - Vivek Ramaswamy's Net Worth Is 9 Figures—See How the DOGE Investor Made His Millions
   https://www.investopedia.com/vivek-ramaswamy-net-worth-8744950

5. Times of India - Who is Vivek Ramaswamy? Know about his early life, education and role as head of the new Department of Government Efficiency
   https://timesofindia.indiatimes.com/world/us/who-is-vivek-ramaswamy-know-about-his-early-life-education-and-role-as-head-of-the-new-department-of-government-efficiency-doge/articleshow/115244713.cms

6. Politico - How Vivek Ramaswamy made a fortune before pivoting to politics
   https://www.politico.com/news/2023/05/14/how-vivek-ramaswamy-made-money-00096046