Vivek Ramaswamy Sold an Estimated $1.2B in Stock, Now Could Become the Third-Richest US Elected Official

Vivek Ramaswamy has sold an estimated $1.2 billion worth of Roivant Sciences stock over the past year, yet his fortune has grown by roughly $500 million. Forbes now estimates the Republican candidate for Ohio governor is worth $2.3 billion, up from $1.8 billion a year ago and about $1 billion in March 2025.

The rise highlights how sharply Roivant's stock has increased even as Ramaswamy has reduced his ownership of the drug-development company he founded. If he wins Ohio's governor's race on 3 November, his estimated fortune would make him the third-richest elected official in the US, behind President Donald Trump and Illinois Governor J.B. Pritzker based on the same estimates.

Roivant Drives His Fortune

Ramaswamy founded Roivant Sciences in 2014. The company went public through a SPAC merger in 2021 and has since become the main source of his wealth. Roivant shares were trading around $40 when his latest fortune was calculated, giving the company a market value of roughly $29 billion. The stock had risen about 85% since the start of 2026 and was nearly four times higher than two years earlier. Several developments have helped support the company's recent performance.

The US Food and Drug Administration approved LISRAYA, or brepocitinib, for adults with dermatomyositis on 27 August. Roivant's Priovant subsidiary announced the approval the same day. Roivant also reported positive Phase 2 results for mosliciguat, an experimental treatment for pulmonary hypertension, on 8 September.

In March, the company announced a $2.25 billion global settlement involving Moderna over patent litigation concerning lipid nanoparticle technology. The agreement included a $950 million payment and a further $1.3 billion contingent on a favourable resolution of an appeal.

Ramaswamy Has Been Selling

The rise in Roivant's value has coincided with substantial stock sales by Ramaswamy. Disclosed sales in November and December brought him about $106 million before taxes. He then sold roughly $400 million worth of shares during the first quarter of 2026.

For the second and third quarters, the remaining figure is an estimate. Based on continued selling at a similar pace and average market prices, the calculation suggests another $700 million in sales. Together, those amounts produce the estimated $1.2 billion figure.

The total is not a fully disclosed transaction amount. After Ramaswamy's ownership fell below 5%, and because he was no longer a Roivant officer or director, further sales did not have to be reported to the Securities and Exchange Commission in the same way. Ramaswamy and his campaign did not respond to questions about his investment portfolio.

His Stake Has Shrunk

The change in Ramaswamy's Roivant position is reflected in ownership records. At the end of 2025, Ramaswamy and his wife held 61.8 million Roivant shares, including stock options, representing an 8.7% combined stake. Three months later, their reported holdings had fallen to 38.9 million shares, with no options. Their combined stake stood at 5.4%.

An SEC filing shows Ramaswamy personally held about 25.5 million shares as of 31 March, while another 13.4 million shares were held solely by his wife. Despite the sales, the value of his remaining assets has increased. The latest estimate puts as much as $1.3 billion of his wealth in cash and liquid securities.

Wealth Enters Ohio Race

Ramaswamy's fortune has also become a campaign issue as he seeks the Ohio governorship. Democratic nominee Amy Acton has highlighted his wealth and private-jet travel as a contrast with her own background. She has argued that his lifestyle is removed from families dealing with higher living costs.

Ramaswamy has defended his success. After winning the Republican primary in May, he said he believed in celebrating success and pointed out that he was not born wealthy. Acton has also called for Ramaswamy to stop owning individual stocks if he becomes governor and has raised his investments in data centres.

Both candidates have proposed restrictions on new data-centre projects in Ohio, although their proposed conditions differ. Ramaswamy's financial position remains closely tied to the market value of his investments. If he wins on 3 November, his estimated $2.3 billion fortune would place him among the wealthiest elected officials in the US.