Vivek Ramaswamy, the biotech entrepreneur turned presidential hopeful who has spent more time on cable news than most cable news anchors, has officially stepped down from his post at Strive Asset Management. The firm, a self-styled antidote to “woke” investing, confirmed on Monday that Ramaswamy no longer has any operational role, perhaps because running for president does tend to take up one’s calendar.
Strive, which Ramaswamy co-founded in 2022 with the noble mission of telling corporate America to stop being quite so diplomatic about social issues, has raised over $1 billion in assets. Quite an impressive feat considering it was founded after New Year’s 2022 and before the coffee got cold. Now, with Ramaswamy’s exit, the firm is pressing on under the leadership of Anson Frericks and other executives who presumably still have the time to attend staff meetings.
In a statement that did not specify when he left or whether there were farewell bagels, Ramaswamy said his goal had always been to empower citizens and shareholders. Whether this empowerment involves quarterly earnings reports or presidential debates remains a bit murky. Strive, for its part, insists it will continue to challenge “shareholder capitalism as a vehicle for political agendas” a phrase that is likely framed somewhere in the office, just underneath a painting of Adam Smith we assume.
As for Ramaswamy, he’s now traveling the country making the case that what America really needs in a president is someone who ran an ETF company for 18 months and once wrote a book about ESG investing called “Woke, Inc.” Whether voters will agree is unclear, although the GOP debates already appear to have plenty of room for business moguls with strong opinions and flexible calendars.
Strive may be saying goodbye to its co-founder, but at least now the meetings will have fewer interruptions from someone suggesting Ayn Rand as required reading.