Vivek Ramaswamy’s wealth doubles in 9 months, reaching $1.8bn. Here’s how. Hint: It’s not from politics
&imwidth=600&imheight=450&format=webp&quality=medium "Vivek Ramaswamy’s wealth doubles in 9 months, reaching $1.8bn. Here’s how. Hint: It’s not from politics")
Vivek Ramaswamy Photograph: (AFP)
In 2024, Ramaswamy ran for US presidency but withdrew his bid and supported Donald Trump. In March, Forbes estimated his net worth at just about $1 billion, barely making the World Billionaires List.
Vivek Ramaswamy, the Indian-origin US politician, has become one of the richest people in America as his net worth has increased to $1.8 billion. It's an 80 per cent increase in just nine months. This comes amid his bid for Ohio governor, which he announced in February.
In 2024, Ramaswamy ran for US presidency but withdrew his bid and supported Donald Trump. In March, Forbes estimated his net worth at just about $1 billion, barely making the World Billionaires List.
Is the money from politics?
It's quick to assume that the reason behind this jump in wealth might be because of his rising political career. But as per a Forbes report, it's because of his old pharmaceutical company, Roivant Sciences.
The 39-year-old Republican launched the company in 2014, the year he made Forbes' 30 Under 30 list. A spokesperson from his team confirmed that the Forbes numbers as "broadly correct".
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Bloomberg reported in April that the company raised $75 million in Series D funding at a $1.5 billion valuation, and a person familiar with the company says Ramaswamy's stake is worth about $100 million, or 6.7 per cent.
Ramaswamy became the chairman of Roivant in 2021, and the company went public soon after. In early 2023, he left the board to focus on his presidential run. But he still was the owner of tens of millions of shares.
