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Vivek Ramaswamy launches commission-based fundraising program for 2024 campaign

Vivek Ramaswamy launches commission-based fundraising program for 2024 campaign

Republican presidential candidate Vivek Ramaswamy has announced a new fundraising scheme that will give his supporters a 10% cut of the total money they raise for his campaign.

The program, called “Vivek’s Kitchen Cabinet,” is aimed at empowering grassroots donors and challenging the professional money machine in politics, Ramaswamy said in a statement on Monday.

“If this is going to be a cloistered, hush-hush game of raising money and people get to keep a percentage of what they raise, … then I said, ‘it might as well just be everybody,'” he told Axios.

Ramaswamy, a businessman and author, is one of the few major candidates in the crowded Republican primary who has no prior political experience. He has founded two successful companies: Roivant Sciences, a biopharmaceutical company focused on drug development, and Strive Asset Management.

His wealth has allowed him to loan $10.25 million to his own campaign as of March 31, and to invest in hiring staff and visiting early states. He has also gained media attention for his book “Woke, Inc.: Inside Corporate America’s Social Justice Scam” and his frequent appearances on conservative cable news.

Ramaswamy said he has reached the critical fundraising threshold to qualify for GOP presidential primary debates at least through October. The qualification for the first debate in August is 40,000 donors, including at least 200 unique donors in each of 20 states.

“The reality is, if you can’t hit 40,000 donors by middle of August, you have zero chance of beating Joe Biden in an election,” he said.

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