Vivek Ramaswamy Net Worth: One of the five Republicans still running for president is Vivek Ramaswamy, who is also one of the richest. Forbes says that Ramaswamy was a millionaire in 2023, but bad market conditions caused his net worth to drop.
His first job in business was as an associate partner at the hedge fund QVT Financial in 2007, when he was 22 years old. After seven years, he started Roivant Sciences, a biotech company whose goal was to speed up the creation of new drugs. It is based in Bermuda, which is a tax haven, and investors gave it $100 million to start up.
Who is Vivek Ramaswamy?
The 38-year-old man said in February 2023 that he was running for president as a Republican. His campaign is one of the youngest and least experienced in the field.
Republicans would be interested in him because he “stands” against things he sees as “woke.” A book called “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” which Ramaswamy wrote in 2021, was critical of what he saw as the growing impact of progressive ideas in business. He backs Donald Trump and said he would forgive Trump if he wins the election next year.
Vivek Ramaswamy Net Worth
With a net worth of $800 million, Vivek Ramaswamy is an American businessman, CEO, and author. Vivek Ramaswamy made a lot of money through biotech and investments, which we will talk about in more depth below. As a Republican running for president in August 2023, he became well-known across the country. A lot of people thought Vivek won the first Republican debate on August 23, 2023.
Vivek’s 7% share in a company called Roivant Sciences, which we’ll talk about in more detail in the next sentence, is what makes up most of his net worth. In 2020, Roivant sold five drugs and a 5% stake in the company to a Japanese drug company for $3 billion. Vivek made $176 million in 2020 because of this. The public record shows that Vivek made $260 million in pay, bonuses, and capital gains from 2014 to 2022.
In early 2021, Roivant went public through a merger with another SPAC. Roivant had a market value of $7.3 billion on the day the deal was sealed. Vivek’s 8% share was worth about $511 million because of this. Roivant’s market value was $8.56 billion in mid-August 2023, when he was on stage at a Republican debate. Vivek’s 7% share was worth about $600 million because of this. You may have read on other sites that Vivek Ramaswamy is a millionaire, but that is not true. His net worth has never been that high.
Also Read:Â Ronit Roy Net Worth: Annual Income, Salary, Assets and Career Information
Vivek Ramaswamy Net Worth Sources
He went to Harvard and was successful there. His biotech company has been his main source of income, making him a millionaire. The company came up with a bunch of new medicines based on an original idea. In a public speech, Ramaswamy said, “The one I’m most proud of is a therapy for kids, 40 of them a year, born with a genetic condition who will die by the age of 3 if they don’t get treatment.”
The two huge payouts, totaling more than USD 200 million (INR 1,662 crore), are a big part of Vivek Ramaswamy’s huge wealth. The first payment was made in 2015, when investors were very excited about the pharmaceutical company he was trying to build. The second time he got paid was only five years later, when he sold the most hopeful parts of Roivant Sciences to a Japanese company and made a lot of money.
Vivek Ramaswamy Investment
At Roivant Sciences, Ramaswamy’s main goal was to buy the rights to possible drugs from bigger drug companies that had given up on them. The man saw that these medicines had a lot of untapped promise and wanted to take them through clinical trials and then to the market. This outside-the-box attitude made people in the industry look twice, but it also led to big investments and partnerships.
One big success story was when Roivant Sciences bought an Alzheimer’s drug from GlaxoSmithKline. This led to the creation of a new company called Axovant Sciences. The company’s initial public offering (IPO) broke records at $2.2 billion, which solidified Ramaswamy’s position as a leader in the field.
Even though there have been setbacks, like when a key drug candidate failed in a clinical study, Roivant Sciences has continued to grow and get investments. With a market value of $8.7 billion, Ramaswamy’s drive to be a businessman and his knowledge of money have been very important to his success.
Also Read:Â Nikhil Kamath Net Worth: Assets, Cars Collection, Career and Other Important Information
Vivek Ramaswamy’s Early Career
Vivek and Travis May started the tech company Campus Venture Network together in 2007. The Campus Venture Network helped student entrepreneurs network and gave them software. The company was sold by Ramaswamy and May to the Ewing Marion Kauffman Foundation in 2009.
Vivek worked at QVT Financial from 2007 to 2014 and was a partner there. He also co-managed the biotech business for the company. Vivek made a total of $7 million during those seven years.
Conclusion
Vivek Ramaswamy, a 38-year-old American businessman, CEO, and author, is running for president as a Republican. With a net worth of $800 million, Ramaswamy made significant money through biotech and investments. He started Roivant Sciences, a biotech company based in Bermuda, with investors giving it $100 million to start up. Ramaswamy’s main source of income is his biotech company, which has been successful in acquiring the rights to potential drugs from bigger drug companies.
His investment strategy has led to big investments and partnerships, including the creation of Axovant Sciences, which broke records at $2.2 billion. Ramaswamy’s early career included working at QVT Financial and co-managing the biotech business. His net worth has never been that high, but his entrepreneurial spirit and knowledge of money have contributed to his success.