Ramaswamy Investments seem at odds with its stance on ‘Woke’ culture

Vivek Ramaswamy, a Republican presidential candidate who made a fortune in the biotech industry, has captured the attention of primary voters with fervent criticism of the socially conscious practices of American corporations, which he outlined 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 ESG – the kind of “wake up” business practices he decries – according to a financial disclosure filed with the Federal Election Commission released 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 Mr. Ramaswamy has invested in are Microsoft (his holdings are valued at $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 different ESG principles reports Posted on their websites.

Mr. Ramaswamy has argued that such goals are a distraction from earning profit, 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 heard of these positions was when he saw this financial disclosure report,” Ms McLaughlin said on Friday. “Vivek’s equity portfolio is independently managed by a third party. The filer has the authority to transact and invest in stocks without his express consent or knowledge.

Mr. Ramaswamy, a highly anticipated candidate who has said he would go further than the Republican frontrunner, former President Donald J. Trump, on conservative issues, has been unusually transparent about his wealth, previously releasing 20 years of his tax returns.

But until he submitted his financial disclosure to election officials, the details were few. The filing stated that Mr Ramaswamy owned a $25 million investment in Rumble, the video platform that calls itself a haven for right-wing commentators shunned elsewhere. He owns up to $300,000 worth of cryptocurrency, mostly Bitcoin, and a $100,000 investment in a cryptocurrency app called MoonPay. He also has interests in three private jets.

Mr. Ramaswamy, 37, is from Cincinnati and has degrees from Harvard and Yale. He founded Roivant Sciences in 2014, a drug development and marketing company, which is the main source of his wealth. Although he stepped down as chairman in February when he announced his candidacy, previous reporting showed he remained one of the largest shareholders. According to the federal disclosure, the value of his Roivant property is listed as “more than $50 million,” which is the largest category used on the form.

According to Ms. McLaughlin, the total worth of Mr. Ramaswamy is more than $1 billion.

In addition to Roivant, the portfolio of Mr. Ramaswamy diversified into investments in large US 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 more than $50 million in holdings in Pursue venturesan investment company founded by him to manage funds that invest in companies without regard for social objectives.

The sale of Mr. Ramaswamy’s book ‘Woke, Inc.’, in which he lays out his case against companies trying to achieve social goals, earned the 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 just one home, in Columbus, Ohio. Its value was fixed between $1 million and $5 million.