Today, Strive Asset Management (“Strive”) launches with the mission of restoring the voices of everyday citizens in the American economy by leading companies to focus on excellence over politics. Strive is led by co-founder and Executive Chairman Vivek Ramaswamy and has raised over $20 million from some of America’s most prominent venture capitalists and entrepreneurs.
Strive aims to solve a fiduciary problem created by the three largest U.S. asset managers — BlackRock, Vanguard and State Street — which control over $20 trillion in assets, exceeding the total U.S. gross domestic product. These “Big 3” firms bear a fiduciary duty to advance the best interests of their clients. Yet in the name of “stakeholder capitalism,” they use their clients’ funds to exercise decisive influence over nearly every U.S. public company to advance political ideologies that many of their clients disagree with. They engage in coordinated efforts to enact a uniform social agenda across corporate America resulting in higher gas prices and other consumer harms, which Arizona Attorney General Mark Brnovich recently called “the biggest antitrust violation in history.”
The fact that it is happening in my home state of Ohio is simply an added bonus. I will be transferring my Vanguard accounts to Strive Asset Management as soon as possible.
