Former Republican presidential candidate Vivek Ramaswamy is moving his financial services firm from Columbus to Dallas.
Ramaswamy, a Cincinnati native, cofounded Strive Asset Management in 2022 on the premise that many of the nation’s biggest asset management firms were more concerned about progressive issues than performance when it comes to where they invest.
“When Strive launched in 2022, nearly every major corporation bent the knee to (environmental, social, governance investing),” Ramaswamy said in a statement last week announcing the move. “Just two short years later, the national environment has changed dramatically, in no small part due to Strive’s efforts.”
The statement did not specify whether Ramaswamay plans to personally move to Texas as well. A message seeking comment on Ramaswamy’s personal plans was not immediately returned.
The firm already has $1.7 billion under management.
Ramaswamy has become a popular figure in conservative circles and has written several books including “Woke, Inc.: Inside Corporate America’s Social Justice Scam.”
He announced his run for the presidency in February 2023, but dropped out after the Iowa Caucuses when he finished fourth.
Strive argues that Blackrock, Vanguard and State Street use client funds to advance ideologies that some don’t like, such as fighting climate change and ensuring representation for women and minorities on corporate boards.
As part of the move to Dallas, Ramaswamy’s firm is starting a wealth management business that includes integrating Bitcoin into portfolios.
The company expects most of its Columbus-based staff to relocate to Dallas over the next few months.
“Ohio was the perfect place for Strive to launch its business and we couldn’t be more thankful for the partnerships we built here over the past two years,” Strive CEO Matt Cole said in a statement. “From a business perspective, Texas was the right decision for Strive’s headquarters, but we will of course continue to serve our Ohio customers and provide them the ability to invest with our unapologetically pro-shareholder company.”
mawilliams@dispatch.com
@BizMarkWilliams
