Ark Invest’s Cathie Wood Set to Vote for Donald Trump, Citing Economic Strategy

Ark Invest CEO Cathie Wood revealed she would vote for former President Trump over President Biden in the November presidential election. Her decision is based on who she believes would be best for the country’s economy, she said.

Wood disclosed her choice over the weekend during an interview with YouTuber Kevin Paffrath, when he asked her to choose between Trump and Biden.

She said she had discussed the election with her children, telling them her vote would go to the candidate who best supports the US economy. “I am a voter when it comes to economics, and on that basis — Trump,” she said.

Ark Invest Founder Cathie Wood (@CathieDWood) announces she will support Donald Trump for President in 2024

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— ALX 🇺🇸 (@alx) June 24, 2024

Cathie Wood Quotes Laffer on Trump’s Economic Legacy

She mentioned economist Arthur Laffer’s assessment that Trump’s presidency from 2017 to 2021, except for the final year affected by COVID-19, was the strongest period in US economic history. Laffer had advised Trump during his 2016 presidential campaign. He has co-authored the book “Trumponomics: Inside the America First Plan to Revive Our Economy” with Stephen Moore.

In 2019, Trump awarded Laffer the Presidential Medal of Freedom, which is the nation’s highest civilian award. It was given in recognition of Laffer’s “groundbreaking economic theories” and their influence on policy.

Trump Courts Crypto Votes

Cathie Wood is recognized as a leading advocate for cryptocurrencies, and is personally and professionally invested in Bitcoin and other digital assets. She views Bitcoin as increasingly valuable for protecting against inflation in countries with less stable currencies.

Meanwhile, Trump has shown a growing interest in cryptocurrencies as part of his campaign efforts. He has said he intends to reduce hostility toward crypto in the US if he wins reelection and has emphasized his fondness for and understanding of cryptocurrencies, contrasting himself with current President Joe Biden.

Trump Receives Billionaires’ Support

Wood’s informal support follows a trend where several billionaires have contributed funds and backing to Trump’s presidential campaign.

Blackstone CEO Stephen A. Schwarzman has said he would endorse Trump as a “vote for change.” Also, the billionaire Winklevoss twins announced their contributions of $1m each in Bitcoin to support the Republican presidential candidate.