Cathie Wood, the CEO of Ark Invest, disclosed that she would support former President Trump over President Biden in the upcoming November presidential election. She stated that she bases her decision on the individual she believes would benefit the country’s economy most.
During an interview with YouTuber Kevin Paffrath over the weekend, Wood disclosed her decision when he asked her to select between Trump and Biden.
She said she had engaged in a conversation with her children regarding the election, informing them that her vote would be cast for the candidate who best favored the US economy. “I am an economics voter, and as a result, I support Trump,” she stated.
Cathie Wood Quotes Laffer on Trump’s Economic Legacy
She referenced economist Arthur Laffer’s conclusion that the period from 2017 to 2021, during which Trump served as president, was the most prosperous in the history of the United States, except the final year, which the COVID-19 Pandemic impaired.
Laffer had provided Trump with guidance during his 2016 presidential campaign. The book “Trumponomics: Inside the America First Plan to Revive Our Economy” was co-authored by him and Stephen Moore.
Laffer was granted the Presidential Medal of Freedom by President Trump in 2019, which is the nation’s most prestigious civilian honor. It was awarded for Laffer’s “revolutionary economic theories” and their impact on policy.
Trump Courts Crypto Votes
Cathie Wood is a prominent proponent of cryptocurrencies and has made personal and professional investments in Bitcoin and other digital assets. She believes Bitcoin is becoming more valuable as a safeguard against inflation in countries with less stable currencies.
In the interim, Trump has demonstrated an increasing interest in cryptocurrencies as part of his campaign. He intends to mitigate the hate toward cryptocurrency in the United States if reelected.
He has also underscored his appreciation for and comprehension of cryptocurrencies, setting himself apart from the current President, Joe Biden.
Billionaires endorse Trump
Wood’s informal support is consistent with a recent trend in which numerous billionaires have supported Trump’s presidential campaign financially and morally.
Stephen A. Schwarzman, the CEO of Blackstone, has declared that he would support Trump as a “vote for change.” The billionaire Winklevoss twins also disclosed their pledge to contribute $1 million each in Bitcoin to the Republican presidential candidate.