The billionaire biotech mogul has railed against socially conscious companies. But his financial disclosure shows he has a stake in some of the leaders in the field.
Vivek Ramaswamy, a Republican presidential candidate who made a fortune in the biotech industry, has caught the interest of primary voters with fiery critiques of the socially conscious practices of U.S. corporations, which he laid out in a book, “Woke, Inc.: Inside Corporate America’s Social Justice Scam.”
But Mr. Ramaswamy himself owns valuable investments in many companies that have embraced environmental, social and governance principles, known as E.S.G. — the kinds of “woke” corporate practices he decries — according to a financial disclosure filed with the Federal Election Commission that was released on Friday.
While many of the companies in which Mr. Ramaswamy holds an interest are household names, they are also leaders in the corporate movement to address social and environmental issues.
Among the companies that Mr. Ramaswamy is invested in are Microsoft (his holdings are valued 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 E.S.G. principles, according to reports posted on their websites.
Mr. Ramaswamy has argued that such goals are a distraction from earning a profit, and that social objectives should be left to elected officials.
Tricia McLaughlin, a senior adviser to Mr. Ramaswamy, said that he did not manage his own stock portfolio. “The first time Vivek learned of these positions was when he saw this financial disclosure report,” Ms. McLaughlin said on Friday. “Vivek’s stock portfolio is independently managed by a third party. The filer has authority to make trades and invest in stocks without his expressed consent or knowledge.”
Mr. Ramaswamy, a long-shot candidate who has said that 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.
But until he filed his financial disclosure with election officials, there were few details. The filing reported that Mr. Ramaswamy owned up to a $25 million investment in Rumble, the video platform that styles itself a refuge for right-wing commentators shunned elsewhere. He owns up to $300,000 in cryptocurrency, primarily Bitcoin, and an investment worth up to $100,000 in a cryptocurrency app named 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 drugs, and that is the primary source of his wealth. Though he stepped down as chairman in February when he announced his candidacy, earlier reporting showed that he remained one of the largest shareholders. On the federal disclosure, the value of his Roivant holdings is listed as “over $50 million,” which is the largest category used on the form.
According to Ms. McLaughlin, Mr. Ramaswamy’s total worth is more than $1 billion.
Besides Roivant, Mr. Ramaswamy’s portfolio has diversified into investments in major U.S. companies that many Americans would recognize from their own retirement accounts. These holdings are valued between $39.6 million and $125 million. (The amounts on the form are reported within a range.) In addition, he reported over $50 million in holdings in Strive Enterprises, an investment company he created to manage funds that invest in companies without regard to social objectives.
Sales of Mr. Ramaswamy’s book “Woke, Inc.,” which lays out his case against corporations attempting to factor in 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 ultrawealthy cohort: He owns just a single residence, in Columbus, Ohio. Its value was pegged between $1 million and $5 million.
Source: Elections - nytimes.com
