Vivek Ramaswamy’s Crusade Against “Woke Capital” May Be Lucrative, but It’s Doomed
Taking issue only with the “woke” part of “woke capital,” GOP candidate Vivek Ramaswamy’s asset management firm Strive promises to invest in the most damaging industries on the planet. It will likely fail — but he’s making a lot of money along the way.
Vivek Ramaswamy talks to reporters following the FOX Business Republican Primary Debate at the Ronald Reagan Presidential Library on September 27, 2023 in Simi Valley, California. (Mario Tama / Getty Images)
A fringe corner of the financial market is picking up steam, and it has a rising Republican Party star to thank for it.
While most observers were content to write off Strive Asset Management — which launched in 2022 with a declaration of war on “woke” investing — the firm cofounded by GOP presidential candidate Vivek Ramaswamy reached a key milestone earlier this month: $1 billion in assets under management. The influx of cash has made Strive the largest in a set of companies that actively push back against environmental, social, and governance (so-called ESG) concerns, according to data from Morningstar Direct.
Strive’s vision is almost certainly doomed, and whether the company and its fellow crusaders are here to stay is uncertain. Yet one thing is clear: it’s a great way to make a lot of money.
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