© Reuters. Republican presidential candidate and businessman Vivek Ramaswamy makes a campaign visit to Machine Shed Restaurant before the Iowa caucus vote in Urbandale, Iowa, U.S. January 15, 2024. REUTERS/Sergio Flores   TSLA +0.47% Add to/Remove from Watchlist Add to Watchlist Add Position

Position added successfully to:


 
+ Add another position Close

By Alexandra Ulmer


(Reuters) -Vivek Ramaswamy, a multi-millionaire former biotech executive, ended his White House bid on Monday and endorsed Donald Trump after his longshot bid caught attention but failed to catapult him high enough in the Republican Party's first nominating contest in Iowa.


Ramaswamy, a 38-year-old born in Ohio to immigrant parents from southern India, was one of the surprises of the 2024 Republican race dominated by former President Trump.


A fierce defender of Trump throughout the campaign, Ramaswamy likely secured himself a spot in Republican politics going forward with his youthful demeanor, deep pockets and fast-talking, pugnacious campaigning.


However, Trump turned on him in the final days leading up to the Iowa caucus, calling him a "fraud" and asserting that a vote for Ramaswamy was a vote for the "other side."


Still, Ramaswamy endorsed Trump on Monday, saying Trump was an "America-first" candidate who would have his full support.


"There is no path for me to be the next president," Ramaswamy told supporters in Des Moines after partial results from the Iowa caucus showed him in fourth place with around 7.7% of votes.


In his victory speech, Trump adopted a softer tone toward Ramaswamy. "I also want to congratulate Vivek, because he did a hell of a job," Trump said.


Harvard-educated Ramaswamy gained fame in right-wing circles thanks to his 2021 bestseller "Woke, Inc.," which decries decisions by some big companies to base business strategy around social justice and climate change concerns.


His combative debate performances and intense focus on media, especially social media, earned him headlines, but also put off some voters, and buzz around him ebbed in the autumn.


By the end of 2023, his national opinion polling numbers with likely Republican primary voters languished in the low single digits.


Ramaswamy's fellow Republican candidates often appeared irritated with the newcomer in debates, with former South Carolina Governor Nikki Haley telling him during one contentious encounter: "Every time I hear you, I feel a little bit dumber."


However, he gained some support, or at least interest, among libertarian crowds and the tech world. They included Tesla (NASDAQ:TSLA) Inc. Chief Executive Elon Musk, whom Ramaswamy confirmed to Reuters had attended a fundraiser for him in the autumn.


Ramaswamy says he was a libertarian while studying but has staked out some deeply conservative policy positions.



On the campaign trail, he opposed affirmative action and supported state-level bans on abortion after six weeks and said he wanted to greatly expand the powers of the presidency and dismantle much of the federal government, including the FBI and the Department of Education.


Ramaswamy was also reflective of a growing isolationist movement in the Republican Party, once made up of staunch foreign policy hawks. He opposed NATO membership for Ukraine and said Kyiv should make concessions to Russia to end the war, including allowing it to retain parts of Ukraine it occupies.


Entrepreneur Ramaswamy drops out of White House race, endorses Trump 4  

Google to slash at least 100 jobs across cloud division - CNBC

Investing.com -- Alphabet (NASDAQ:GOOG) is moving to dismiss at least 100 employees from Google (NAS

Dollar stabilizes ahead of key employment data; euro slips back

Investing.com - The U.S. dollar edged higher in early European trade Tuesday, rebounding after steep

China short sellers retreat as contrarians sense an opportunity

© Reuters. FILE PHOTO: An electronic board shows Hang Seng stock index, at the Lujiazui financial di

LG Display posts first profit in 7 quarters on holiday demand, flags volatile 2024

© Reuters. People visit the LG display at the international consumer technology fair IFA in Berlin,

Auto dealers challenge new US FTC car-buyer consumer protection rules

© Reuters. FILE PHOTO: Federal Trade Commission seal is seen at a news conference at FTC headquarter

Softening consumption may delay BOJ's exit from easy policy

© Reuters. Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in

Bank of England to hold its line against rate cut talk

© Reuters. FILE PHOTO: A pedestrian walks past the Bank of England in the City of London, Britain, S

Asia FX muted with US labor data in focus; Yen buoyed by BOJ

© Reuters. USD/JPY-0.97%Add to/Remove from WatchlistAdd to Watchli

Oil rebounds from six-month-low but demand concerns linger

© Reuters. FILE PHOTO: A pump is seen at a gas station in Manhattan, New York City, U.S., August 11,

Australia trade drags on Q3 growth, government spending a boost

NG-0.26%Add to/Remove from WatchlistAdd to Watchlist Add Position Position

Asian stocks slide as focus turns to US jobs

© Reuters. FILE PHOTO: Passersby walk past an electric board displaying Japan's Nikkei share average

As Japan emerges from deflation, banks get wake-up call on interest rate swing

2/2© Reuters. FILE PHOTO: A man walks past signboards of Sumitomo Mitsui Banking Corporation (R),