Vivek Ramaswamy plans to run for governor of Ohio, according to a person familiar with his thinking, but does not immediately plan to leave his high-profile role in Donald J. Trump's government efficiency project.
Mr. Ramaswamy told Ohio allies about his plan on Friday after the state's Republican governor, Mike DeWine, named Ohio's lieutenant governor, Jon Husted, to fill the U.S. Senate seat being vacated by Vice President-elect JD Vance.
Mr. Ramaswamy's expected candidacy in his home state comes after he ran into some turbulence in Mr. Trump's orbit.
Mr. Ramaswamy, a wealthy pharmaceutical entrepreneur who ran for president in the 2024 primary and lives near Columbus, had been considered for the Senate seat, and Mr. Trump had recently told him that he would be a good fit. Mr. DeWine, who cannot seek a third term under Ohio law, met with Mr. Ramaswamy last weekend, the governor said.
For now, Mr. Ramaswamy plans to continue working alongside Elon Musk at the new Department of Government Efficiency, known as DOGE, said the person, who spoke on condition of anonymity. He hopes to make some progress before turning his attention to running for the governor's seat, which becomes open in 2026, the person said.
The head of the PNC Financial Services Group, who had a net worth a year ago that Forbes estimated at $960 million, is already hard at work on the high-profile government cost-slashing project. Mr. Ramaswamy and Mr. Musk have been in meetings together on Capitol Hill and have declared ambitious — many think impossible — plans to strip $2 trillion out of the federal budget.
It has not been an equal partnership, given Mr. Musk's vastly larger wealth and profile. Mr. Musk's top lieutenant, Steve Davis, largely oversees the effort.
The news of Mr. Ramaswamy's plans in Ohio could put an end to some mounting speculation in Republican circles about whether he planned to enter the federal government full time.
At times, Mr. Ramaswamy’s role in the incoming administration had appeared tenuous to some in Mr. Trump’s circle. There have been repeated complaints about Mr. Ramaswamy from people close to Mr. Trump, and, at times, from Mr. Trump himself.
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