Bill Ackman Tells Vivek Ramaswamy How To Run For President

Wednesday’s GOP debate for the 2024 Republican presidential nomination saw more than just political differences being aired. Among the contenders, Vivek Ramaswamy, the biotech billionaire turned political aspirant, found himself the subject of sharp criticisms and social media jests.

The comments, particularly on X, ranged from light-hearted jibes and outright disapproval to a nod of suggestions from familiar voices of Wall Street on how to handle his campaign after his charismatic performance during the debate.

While Ramaswamy is no stranger to the Street, thanks to the successful IPO of Myovant Sciences in 2016 and his role in Roivant Sciences (NASDAQ:ROIVW), his political credentials are nonexistent and were placed firmly under the microscope. During the debate it was less about his contributions to the biotech space or his leadership at Strive Asset Management, and more about his audacious claims.

Ramaswamy, though not the frontrunner, commanded much of the stage's attention. Engaging in verbal tussles with nearly all his opponents, he managed to overshadow political giants such as Florida Gov. Ron DeSantis.

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His words, particularly the dismissal of climate change as a “hoax," drew considerable attention. It was a statement that saw him booed by the debate's audience and slammed by X users. One said, “Hey Vivek Ramaswamy: climate change is real… We will respond accordingly at the ballot box.”

“No class,” a former GOP spokesperson in New York told Benzinga. “His inexperience was very apparent.”

Adding fuel to the fire was his borrowed line reminiscent of former President Barack Obama’s 2004 debut, which drew accusations of plagiarism. It was former New Jersey Gov. Chris Christie who delivered the toughest jab, likening Ramaswamy’s speeches to ChatGPT’s AI-generated content.

“I’ve had enough already tonight of a guy who sounds like ChatGPT stand up here,” Christie said. “The last person in one of these debates who stood in the middle of the stage and said, ‘What’s a skinny guy with an odd last name doing up here’ was Barack Obama, and I’m afraid we’re dealing with the same type of amateur standing on stage tonight.”

When the topic pivoted to Ukraine, Ramaswamy bucked GOP consensus, dismissing the notion of a U.S. victory in Ukraine as a necessity. His comments about delivering military resources to the U.S. southern border instead of Ukraine drew mixed reactions.

As polarizing as it was, it wasn't all bad for him. Amidst the critique, Ramaswamy found an ally in Bill Ackman, founder and CEO of Pershing Square Capital. Ackman’s post on X suggested Ramaswamy has the potential to rise beyond his current 10.3% polling numbers, but only if he clarified his positions on pivotal issues like the Ukraine war and climate change.

Ramaswamy’s trajectory remains to be seen from here, but he is polling at 10.3%, just behind DeSantis' 14.8% and far behind Donald Trump's 51.6%, according to data from FiveThirtyEight.

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