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Wednesday, February 22, 2023

An ETF Entrepreneur Runs For President

Reported by Neil Anderson, Managing Editor

An ETF entrepreneur is running against Donald Trump, Nikki Haley, and whoever else enters the 2024 race.

Vivek Ganapathy Ramaswamy
Strive Asset Management, LLC
Yesterday, Vivek Ramaswamy, co-founder of Strive Asset Management, stepped down as executive chairman and passed his board seat to fellow co-founder Anson Frericks, who will continue to serve as president. Ramaswamy did so after revealing, last night on Tucker Carlson Tonight, that he is a candidate for president of the United States in next year's election.

37-year-old Ramaswamy describes himself as a conservative and is running for the Republican nomination for U.S. president. He and Frericks launched Strive last year (in Dublin, Ohio, outside Columbus) as an anti-ESG asset manager, and the subadvisor now powers eight ETFs with a combined $641 million in AUM (as of February 2).

Ramaswamy puts his presidential run in the context of the country's "national identity crisis." He pushes back against affirmative action and "the poison of wokeism and climatism and transgenderism, and COVIDism for that matter," while trumpeting "the unapologetic pursuit of excellence."

"Achievement was my ticket to get ahead. I went on to found multibillion-dollar companies," Ramaswamy tells Tucker Carlson. "And I did it while getting married, raising a family and following my faith in God."

Before Strive, Ramaswamy founded Roivant Sciences, a pharmaceutical company, and led it for nine years. Before that, he was a partner at QVT Financial and co-founded Campus Venture Network. He is an alumnus of Yale Law School and Harvard University. 

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