Strive Enterprises, a financial services company co-founded by former Republican presidential candidate Vivek Ramaswamy, announced Friday that it will move its headquarters to Dallas.
In a press release, the company said it expects most of its staff will move to Dallas from its current Columbus, Ohio headquarters by the end of Q1 2025. It is also launching a wealth management division — to be focused on “integrating Bitcoin into standard portfolios” — to complement its existing asset management platform.
Founded in 2022, Strive currently has $1.7 billion in assets under management and seeks to combat, “social and political agendas” in the financial world, according to its website. The site names DEI (diversity, equity and inclusion) and ESG (environmental, social and governance; sometimes called impact investing) initiatives as particular concerns. Major firms like BlackRock, Vanguard and the Dallas area’s own Charles Schwab, all with more than $1 trillion in assets under management, incorporate DEI and ESG strategies.
“When Strive launched in 2022, nearly every major corporation bent the knee to ESG,” Ramaswamy said in the release. “Just two short years later, the national environment has changed dramatically, in no small part due to Strive’s efforts. The moment is now ripe to launch a pro-capitalism Wealth Management business focused on true financial freedom, with a focus on integrating Bitcoin into standard portfolios.”
Governor Greg Abbott points to Strive’s relocation as the latest development in the growth of Y’all Street, the nickname given to Texas’ booming financial sector.
“Texas has become the home of capital in the United States,” Abbott said in the release. “With the Best Business Climate in the nation and as the top state for corporate relocation and expansion projects, Texas is the future hub of capital markets that will help cement our economic power on the global stage.”
Ramaswamy rose to national prominence during his run for the Republican presidential nomination throughout 2023. Having launched pharmaceutical company Roivant Sciences in 2014, Ramaswamy billed himself as an “anti-woke” entrepreneur and drew attention for controversial pitches such as those to shut down the Department of Education, Federal Bureau of Investigation and the Centers for Disease Control and Prevention. After taking fourth in the Iowa caucuses, Ramaswamy suspended his campaign in January 2024.
He has since been on the campaign trail for former President Donald Trump, and has stated interest in Ohio’s governorship and Senate seat, as well as in a potential Trump cabinet seat.