GOP candidate Vivek Ramaswamy has a net worth of $950 million. What makes him so wealthy?

For many, Vivek Ramaswamy is a 38-year-old US presidential candidate vying to take down Florida Gov. Ron DeSantis in the GOP primary race. But he is a lot more than a Republican eyeing the White House for next year. Ramaswamy is one of the richest individuals in the United States under the age of 40.

The son of Indian immigrants, Ramaswamy is a Harvard and Yale graduate who climbed his way up the billionaire ladder in recent years. While a stock market dip dwindled his wealth, he is still worth over $950 million, according to Forbes. His affluence comes from the 10% ownership stake he has in Roivant Sciences.

Found by him in 2014, the biotechnology firm shot to success after it acquired the rights to an Alzheimer’s medication and used it as a centerpiece for its subsidiary, Axovant. The drug showed positive results in clinical trials, and allowed Roivant to take Axovant public in a 2015 IPO that raised $360 million, the New York Post reported.

A look at Ramaswamy's business endeavours

Since then, the 38-year-old has raked in over $260 million in salary, bonuses, and capital gains. His company's stock price this year is up by over 82%. But Roivant Sciences isn't his only hope. The presidential hopeful has largely invested in cryptocurrency and digital payments firms like MoonPay. 

He is also the founder of “anti-woke” index fund, Strive Asset Manager. With a value of $300 million, the fund has a stake of Ramaswamy that is worth $100 million. Ramaswamy has also made profits through his conservative beliefs, with his book 'Woke, Inc.' being a 2021 bestseller. 

In the book, he slams large corporations for focusing on social justice and climate change while formulating their business strategies. He believes that “wokeism” is a bad influence that impacts hard work, capitalism, religious faith, and patriotism. The book made Ramaswamy secure the hearts of conservatives, helping him emerge as a right-wing icon ready to take on Republican firebrands like Donald Trump and DeSantis.