How Vivek Ramaswamy's Well-Timed Ohio Move Likely Saved Him $12 Million In Taxes

Forbes Daily Briefing · Oct 17, 2026 · 7m

In case you haven’t heard, Vivek Ramaswamy wants Ohio to stop taxing capital gains. The Republican candidate for governor has made the proposal his opening salvo in a larger tax-cutting agenda: eliminate Ohio taxes on capital gains beginning next year, then phase out the state income tax altogether over the next decade. “If we do it,” he said last year, “founders will flock to Ohio in droves.” Ramaswamy would know: His own move from New York to the state of Ohio in late 2019 came just before one of the largest windfalls of his career, likely saving him millions of dollars in state and…