What Is Cathie Wood Net Worth? Let’s Dig Into This Person’s Lavish Life!

A well-known stock picker, Cathie Wood founded ARK Invest, a $60 billion investment firm that makes bets on cutting-edge technologies like self-driving vehicles and genomics. In 2014, Wood launched ARK, a company that aims to package active stock portfolios into ETFs.

An average annual return of approximately 45 percent has been achieved over the past five years by her flagship $23 billion (assets) Ark Innovation FundUnder the guidance of Art Laffer, Wood studied economics at USC, where he was introduced to the Laffer Curve, a theory that links tax rates to revenue.
Elon Musk’s Tesla has a lot of support from Wood. She expects the electric vehicle manufacturer to be worth over $3 trillion in the future.

Early Life

To an Irish immigrant family in Los Angeles, he was born the oldest child. Wood’s father was a radar systems engineer in the Irish Army and the US Air Force. Six years later, Wood graduated from Notre Dame Academy, an all-girls Catholic high school in Los Angeles, California, in 1974. Wood received a Bachelor of Science degree in finance and economics from the University of Southern California in 1981.  Wood’s mentor was economist Arthur Laffer, who was one of Wood’s teachers at the university.

Net Worth

cathie wood net worth

As an economist, Wood began her career at Capital Group in 1977. After working at Jennison Associates for 18 years as a portfolio manager, she founded her own hedge fund, Tupelo Capital Management, in 1998.

In 2001, Cathie joined AllianceBernstein as CIO but resigned as management declined to collaborate with her on the notion of launching an ETF consisting of disruptive technology businesses. As a result of Cathie’s initiative, her flagship ARK Innovation ETF was born.

Despite a promising start, Cathie Wood appears to be following in the footsteps of her former instructor, Bill Hwang. For Cathie’s ARK innovation ETF, the recent Tesla bull run saw her buy a lot of the company’s stock at a discount. ARK, on the other hand, is viewed as a highly leveraged stakeholder in a number of overpriced tech businesses by several industry experts.

Since then, Cathie’s ARK ETF has dropped by about 25% in 2021 and is still experiencing a selloff today (July 2018). In the event of a long-term decline in the tech sector, some analysts believe Cathie’s fund may implode. However, Wood maintains that her method is sound and that she thinks Tesla deserves a fair price of $3,000 for its automobiles.

The price of Bitcoin has fallen from an all-time high of $70,000 to $42,000 since Cathie made her statement, and Cathie believes it is still undervalued.

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Career

cathie wood net worth

Wood was hired as an assistant economist at Capital Group in 1977 by her mentor, Arthur Laffer, and worked there for three years. In 1980, she relocated to New York City, where she worked as chief economist, analyst, portfolio manager, and managing director at Jennison Associates, a financial consulting firm there.

She’s been employed there for the past 18 years now. She challenged Henry Kaufman in the early 1980s on why she thought interest rates had peaked. Tupelo Capital Management, a New York City-based hedge fund, was co-founded by Wood and Lulu C. Wang in 1998.

At AllianceBernstein, where she worked for 12 years, she was chief investment officer of global theme strategies, overseeing $5 billion. A lot of people didn’t like how she performed in the financial crisis of 2007–2008. After AllianceBernstein rejected her proposal for actively managed exchange-traded funds based on disruptive innovation, Wood formed Ark Invest in 2014.

Wood was reading the One-Year Bible at the time the company was named after the Ark of the Covenant. Bill Hwang of Archegos Cash provided the initial capital for the first four ARK ETFs. Editor-in-chief emeritus of Bloomberg News, Matthew A. Winkler, selected Wood as the top stock picker of 2020. Wood’s two funds were on the list of the top 10 largest female-run funds as of March 2021, according to total net assets.

After five years of lagging the S&P 500, Wood’s flagship Ark Innovation fund is still behind the index. More than 70 percent of the fund’s value has been lost in the past year.

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Personal Life

cathie wood net worth

Wood is a resident of the Connecticut town of Wilton.
He died in 2018. She had a divorce from Robert Wood. In addition to her husband, Caitlin, Caroline, and Robert, she has three children. Wood is a devoted follower of Christ.

While running for president, she claimed that Joe Biden’s tax and regulation package would impede innovation during the 2020 presidential campaigns addition to Reddit, Wood has a significant fan base.

For her high school’s Duddy Innovation Institute, she made a generous donation in 2018. The institute aims to inspire young women to pursue careers in disruptive innovation.

 

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