Vivek Ramaswamy, a Republican presidential candidate who made a fortune in the biotech industry, captured the interest of primary voters with fiery criticisms of the socially conscious practices of American companies, which he laid out in a book, “Woke, Inc.: Inside.” The Social Justice Fraud of Corporate America.”
But Mr. Ramaswamy himself owns valuable investments in many companies that have embraced environmental, social and governance principles known as ESG — the kinds of “woke” corporate practices he rejects — according to a financial disclosure filed with the Federal Election Commission, which was published. on friday
While many of the companies in which Mr. Ramaswamy has an interest are household names, they are also leaders in the corporate movement to address social and environmental issues.
Among the companies in which Mr. Ramaswamy is invested are Microsoft (his holdings are estimated from $1 million to $5 million), Home Depot ($250,000 to $500,000), Lockheed Martin ($500,000 to $1 million) and Waste Management ($500,000 to $1 million). All adhere to various ESG principles, according to reports posted on their websites.
Mr. Ramaswamy has argued that such goals are a distraction from profit making, and that social goals should be left to elected officials.
Tricia McLaughlin, a senior adviser to Mr. Ramaswamy, said he did not manage his own stock portfolio. “The first time Vivek became aware of these positions was when he saw this financial disclosure report,” Ms McLaughlin said on Friday. “Vivek’s share portfolio is independently managed by a third party. The registrar has authority to make trades and invest in shares without his expressed consent or knowledge.”
Mr. Ramaswamy, a longtime candidate who said he would go further than the Republican front-runner, former President Donald J. Trump, on conservative issues, has been unusually transparent about his wealth, earlier releasing 20 years of his tax returns. comes back
But until he filed his financial disclosure with election officials, there were few details. The archive reported that Mr. Ramaswamy owned an investment of up to $25 million in Rumble, the video platform that styles itself a haven for right-wing commentators shunned elsewhere. He owns up to $300,000 in cryptocurrency, mainly Bitcoin, and an investment worth up to $100,000 in a cryptocurrency app called MoonPay. He also has interests in three private planes.
Mr. Ramaswamy, 37, is a Cincinnati native who holds degrees from Harvard and Yale. He founded Roivant Sciences in 2014, a company that develops and markets medicines, and that is the main source of his wealth. Although he stepped down as chairman in February when he announced his candidacy, earlier reporting showed he remained one of the largest shareholders. On the federal disclosure, the value of his Roivant holdings is listed as “more than $50 million,” which is the largest category used on the form.
According to Ms. McLaughlin, Mr. Ramaswamy’s total net worth is more than $1 billion.
In addition to Roivant, Mr. Ramaswamy’s portfolio diversified into investments in major U.S. companies that many Americans would recognize from their own retirement accounts. These properties are valued between $39.6 million and $125 million. (The amounts on the form are reported within a range.) In addition, he reported more than $50 million in holdings in Strive Enterprisesan investment company he created to manage funds that invest in companies without regard to social goals.
Sales of Mr. Ramaswamy’s book “Woke, Inc.,” which lays out his case against corporations trying to accommodate social goals, earned its author $203,860 in royalties.
The report suggests one area in which Mr. Ramaswamy is more modest than other members of his ultra-wealthy cohort: He owns only a single residence, in Columbus, Ohio. Its value has been pegged between $1 million and $5 million.