Before we get started, I would be remiss if I didn’t mention that President Trump signed an executive order yesterday, mandating the full and unredacted release of classified documents related to the assassinations of John F. Kennedy, Robert F. Kennedy and Martin Luther King Jr.

In a touching gesture, after signing the order, Trump instructed an aide to give the pen he used to Robert F. Kennedy Jr., his nominee for Secretary of Health and Human Services.

As for our main topic today, Vivek Ramaswamy, the dynamic 39-year-old entrepreneur and former presidential hopeful, is making waves once again as he sets his sights on new horizons.

The biotech whiz has been a rising star in conservative circles, catching the eye of President Donald Trump for his sharp intellect and ideas.

• At age 29, the Harvard biology graduate and Yale Law School alumnus, founded Roivant Sciences in 2014.
• His innovative strategy involved acquiring underdeveloped pharmaceuticals and advancing them through clinical trials.
• Roivant’s portfolio expanded to include several subsidiaries, earning Ramaswamy over $250 million in personal income by 2023.

His 2024 presidential campaign, though short-lived, showcased his ability to articulate complex issues and propose unconventional solutions.

After suspending his campaign, Ramaswamy threw his full support behind Trump, earning him a coveted spot as co-lead of the newly formed Department of Government Efficiency (DOGE) alongside Elon Musk.

However, Ramaswamy’s tenure at DOGE has been cut short…

Your Rundown for Friday, January 24, 2025...

The DOGE Saga (And a Pivot)

Reports suggest tensions have been brewing between Ramaswamy and Musk’s camp for weeks.

Sources close to Musk have expressed frustration with Ramaswamy’s perceived lack of engagement in the heavy-lifting required for the DOGE role.

Plus, Ramaswamy’s controversial remarks on X in December 2024, where he criticized American culture for “venerating mediocrity over excellence” and called the H-1B visa system “badly broken,” sparked backlash.

While Ramaswamy’s comments somewhat align with positions held by both Musk and Trump, they apparently have struck a nerve with some Republicans in Trump’s inner circle.

One GOP strategist bluntly says: “Everyone wants him out of Mar-a-Lago, out of D.C.” This sentiment, coupled with existing tensions, seems to have accelerated Ramaswamy's departure from DOGE.

As Ramaswamy steps away from the federal stage, he’s setting his sights on a new challenge – the Ohio governor’s race – positioning himself as a strong contender for the 2026 election.

Himself a Cincinnati native, Ramaswamy’s decision to run for governor is not entirely surprising, given his deep ties to the Buckeye State.

Interestingly, Ramaswamy’s political aspirations intertwine with those of his friend, fellow Ohioan and now Vice President, JD Vance. The two share a unique bond, having been classmates at Yale Law School along with Vance's wife, Usha. (The Vances, in fact, named one of their sons Vivek.)

Ramaswamy’s pivot to state politics aligns with his vision for change. During his presidential campaign, he advocated for bold reforms, including raising the voting age to 25 and drastically reducing the federal workforce.

As a gubernatorial candidate, he might have the opportunity to implement his ideas on a state level, potentially serving as a model for national reform.

Despite the apparent fallout with the DOGE team, Ramaswamy, so far, remains committed to Trump’s agenda.

His departure from the federal role to pursue state office could be a strategic move to build a strong conservative base in a key swing state.

With his blend of business acumen, political savvy and unapologetic conservatism, Ramaswamy is poised to shake up the Buckeye State’s political landscape.

And, given time, D.C.’s political landscape?

After all, 17 U.S. presidents have served as state governors before becoming president. Of these, seven U.S. presidents were born in Ohio. And three served as governors of Ohio before becoming president.

Market Rundown for Friday, Jan. 24, 2025

S&P 500 futures are down 0.15% to 6,140.

Oil is up 0.60% to $75.05 for a barrel of WTI.

Gold’s up 0.90% to $2,789.80 per ounce.

And Bitcoin is up 0.70% to $105,185.