Ramaswamy amasses $9.4 million war chest, buoyed by one big loan
Ryan King
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Entrepreneur and author Vivek Ramaswamy‘s campaign ended the first quarter with about $9.4 million cash on hand, putting him roughly on par with top-tier 2024 candidates, according to filings.
Most of that war chest was fueled by a roughly $10.25 million loan he gave to his campaign and about $1.16 million in contributions he raised, his filing with the Federal Election Commission showed. His campaign spent about $2 million during that period, which spanned from Jan. 1 to March 31.
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Ramaswamy had a net worth of roughly $600 million in 2016, Forbes assessed. He is the co-founder of Strive Asset Management and made a name for himself for his endeavors in the culture wars. He wrote several books, including Woke Inc.
Typically, outsiders struggle on the fundraising circuit relative to established politicians, so Ramaswamy’s wealth gives him a leg-up in his quest for the GOP nod.
Of his declared primary opponents, former Gov. Nikki Haley raked in a net of $8.3 million during the six weeks since launching her campaign, according to assessments of her numbers. Former President Donald Trump’s campaign touted a roughly $19 million haul in the first quarter.
Haley’s and Trump’s figures include funds raised by both their campaigns and affiliated groups.
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Ramaswamy is currently wrapping up a 10-county blitz through New Hampshire that began last Thursday. Polls indicate that support for his presidential bid has notched upward in the Granite State since commencing his campaign in February.
Nationally, he is still trailing his foes and speculated contenders, coming in ninth place in the latest RealClearPolitics polling aggregate.