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Ramaswamy’s $2.3 Billion Fortune Shapes Ohio Governor’s Race
Vivek Ramaswamy is running for governor of Ohio and is worth an estimated $2.3 billion.
Much of his money comes from Roivant Sciences, a drug company he founded.
The company’s stock price has risen sharply this year.
Several drug developments, regulatory approval, and a settlement with Moderna helped support the company’s value.
Ramaswamy has also sold hundreds of millions of dollars in Roivant shares.
His wealth has become an important topic in the governor’s race.
Amy Acton says his private-jet lifestyle is different from that of families facing higher costs.
Ramaswamy says people should celebrate success and notes that he was not born wealthy.
The value of his fortune can change when the prices of his investments rise or fall.
Forbes estimates Republican Ohio gubernatorial candidate Vivek Ramaswamy’s fortune at $2.3 billion.
If elected, Ramaswamy would become America’s second-richest governor, behind Illinois Governor J.B. Pritzker.
Democratic opponent Amy Acton has criticized Ramaswamy’s private-jet travel and called him a “self-funding billionaire.”
Most of Ramaswamy’s wealth comes from Roivant Sciences, whose shares have risen about 85% this year.
Ramaswamy’s net worth remains tied to publicly traded investments, especially Roivant’s fluctuating stock price.
- Who
- Vivek Ramaswamy and Democratic candidate Amy Acton are competing in Ohio’s governor’s race.
- What
- Ramaswamy’s estimated $2.3 billion fortune has become a major campaign issue.
- Where
- Ohio, United States.
- When
- The election is scheduled for November 3; Forbes’ latest estimate reflects recent stock prices and disclosed share sales.
- Why
- Ramaswamy’s wealth and business investments are being debated as questions about money, financial interests, and the role of business in the governor’s office.
Amy Acton’s Criticism
Vivek Ramaswamy’s Defense
Meaning of great wealth
Amy Acton’s Criticism
Acton uses Ramaswamy’s fortune, private-jet travel, and “self-funding billionaire” label to contrast him with families dealing with rising costs.
Vivek Ramaswamy’s Defense
Ramaswamy says he believes in celebrating success and emphasizes that he was not born wealthy.
Investments and public office
Amy Acton’s Criticism
Acton has called on Ramaswamy to stop owning individual stocks and sell investments in data centers if he becomes governor.
Vivek Ramaswamy’s Defense
Ramaswamy has continued to discuss his business background and has sold some Roivant shares, while the articles do not report that he accepted Acton’s proposed restrictions.
Data-center projects
Amy Acton’s Criticism
Acton supports restrictions on new Ohio data-center projects, with conditions differing from Ramaswamy’s proposal.
Vivek Ramaswamy’s Defense
Ramaswamy also supports restrictions on new data centers but would impose different conditions.
Key facts
- Estimated fortune
- $2.3 billion, according to Forbes
- Roivant Sciences stock
- Up about 85% this year when Forbes assessed the fortune
- Roivant market value
- Roughly $29 billion, according to Forbes
- Recent share sales
- About $106 million in disclosed sales in November and December, followed by roughly $400 million in the first quarter
- Election candidates
- Republican Vivek Ramaswamy and Democrat Amy Acton
- Potential wealth ranking
- Ramaswamy would become the second-richest U.S. governor if elected
- Major company developments
- Roivant reported drug-development results, received Food and Drug Administration approval for Lisraya, and reached a multibillion-dollar settlement with Moderna
Quotes
Vivek Ramaswamy
Republican candidate for governor of Ohio and founder of Roivant Sciences
“I believe in celebrating success.”
financialexpress.com
Sources
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