Tuesday, October 4

Vivek Ramaswamy on keeping CEOs out of politics: They shouldn’t ‘foist policies’ onto corporate America

During an interview on “Varney & Co.,” Wednesday, Strive Asset Management founder and executive chairman Vivek Ramaswamy discussed depoliticizing corporate America and representing a different voice in boardrooms through his new investment firm.

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BlackRock offices in New York City.  (Erik McGregor/LightRocket via Getty Images / Getty Images)

VIVEK RAMASWAMY: …the issue we’re fixing here is what I see as a fiduciary breach committed by the largest asset managers in the world, BlackRock, State Street, Vanguard. These are the big three. They manage 20 trusts, 20 plus trillion dollars. That is more than the GDP of the United States, by the way. But what they are doing is, they’re using the funds of their clients, everyday citizens of this country, to foist policies onto corporate America that most of their own clients actually disagree with. I think that’s a fiduciary problem. That’s what we’re fixing by representing a different voice in corporate boardrooms, instead. Telling companies to focus exclusively on delivering excellent products and services to their customers rather than on these political agendas. It’s excellence capitalism, not stakeholder capitalism. 

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