Who is Vivek Ramaswamy? Trump nominates Ramaswamy to lead new efficiency department

Donald Trump has chosen Vivek Ramaswamy and Elon Musk to lead a new "government efficiency department." This move puts the two entrepreneurs in charge of a commitment to cut back on regulations and lower government spending overall.

Mr. Trump stated that the two individuals will work alongside him and the Office of Management and Budget until July 4, 2026, the date that commemorates the 250th anniversary of the signing of the Declaration of Independence.

"Doge," the short form for the newly established department, is also the name of a cryptocurrency that Musk has been advocating for. Additionally, it refers to the highest-ranking government official in an Italian city-state.

In a statement made by Mr. Trump on Tuesday, November 12, he announced the formation of a new advisory group within the White House. This group aims to offer external advice and support in efforts to eliminate bureaucratic obstacles, reduce regulations, lower spending, and reorganize government agencies.

Soon after the announcement came out, Mr. Ramaswamy posted on Twitter: “We won’t back down easily, @elonmusk.”

Let's take a closer look at Mr. Ramaswamy, covering details about his professional background, personal life, and financial status.

"Who Is Vivek Ramaswamy?"

Mr. Ramaswamy exited the presidential race in January 2024 after not being able to maintain the momentum he initially had. He remarked, “I don't see a way for me to become the next president.”

The individual from Cincinnati is the child of Tamil Hindu immigrants who relocated from Kerala to Ohio.

Mr. Ramaswamy graduated from Harvard College in 2007, earning a degree in biology. During his time there, he served as the president of the Harvard Political Union.

During this time, he helped establish Campus Venture Network, a private social networking platform aimed at university students interested in entrepreneurship. The business was acquired by the Ewing Marion Kauffman Foundation in 2009.

At the same time, Mr. Ramaswamy was employed at the hedge fund QVT until 2014, where he eventually rose to the position of partner and co-managed the company’s biotech investments.

In 2013, he earned his law degree from Yale Law School. He has previously mentioned that by the time he graduated, he was already a multimillionaire due to his successful career.

After departing from QVT, the entrepreneur established Roivant Sciences, a biotech company aimed at transforming the process of drug development.

In 2020, Mr. Ramaswamy took on the role of CEO at Roivant Sciences, along with its non-profit division, Roivant Social Ventures. That same year, he also helped establish Chapter Medicare, a platform designed to assist individuals in navigating Medicare.

In 2022, he helped establish Strike Asset Management and served as the CEO until he stepped down in February 2023 to concentrate on his political goals.

Mr. Ramaswamy once thought about entering the race for the US Senate in Ohio during the 2022 elections, but ultimately chose not to pursue it.

On February 21, 2023, he announced his decision to run as a Republican candidate in the upcoming presidential elections.

In response to this, he released two decades' worth of his personal income tax returns and urged his competitors to do likewise.

Mr. Ramaswamy is wed to Dr. Apoorva Tewari, a medical professional. They first crossed paths during their time at Yale University.

The couple is parenting two boys, Karthik and Arjun.

He is recognized as a vegetarian and is believed to practice Hinduism, similar to his parents.

He now resides in New York with his family, but he also has a home in Ohio.

Vivek Ramaswamy’s Net Worth Revealed

Mr. Ramaswamy, who is 39 years old, has achieved billionaire status.

Forbes reports that the biotech investor and presidential hopeful has a fortune of $1 billion (£785,333,119), which pushes him past the billion-dollar mark and ranks him among the 20 youngest billionaires in the United States.