Cathie Wood is a name that has become synonymous with innovation and success in finance. She started ARK Invest and is the CEO of it. ARK Invest is a company that focuses on disruptive innovation and helps investors who are looking to the future.
Wood is known for investing in leading tech startups in Tesla, Square, and Roku.
Her bold predictions and investment strategies have made her one of the most influential figures in the world. For more information about Cathie Wood net worth, visit the Covemarkets website.
| Information | Details |
| Full Name | Catherine Duddy Wood |
| Popular Name | Cathie Wood |
| Gender | Female |
| Birth Date | November 26, 1955 |
| Age | 67 years old |
| Parents | Not mentioned |
| Siblings | Not mentioned |
| Birth Place | Los Angeles, California, U.S. |
| Nationality | American |
| Ethnicity | Mixed |
| Education | Stanford University (Bachelor’s degree in Economics), University of Southern California (Master of Business Administration) |
| Marital Status | Divorced |
| Sexual Orientation | Not mentioned |
| Wife/Spouse | Robert Wood (divorced, deceased) |
| Children | Caitlin, Caroline, and Robert |
| Dating | Not mentioned |
| Net Worth | $250 million |
| Source of Wealth | Founder, CEO, and CIO of Ark Invest, an investment management firm; Investments in Tesla shares; Tupelo Capital Management |
| Height | 5 ft 6 in (1.67 m) |
| Weight | 55 Kg (121 lbs) |
Why is Cathie Wood Famous?
Cathie Wood’s fame stems from her unique approach to investing. Unlike traditional investors who often shy away from volatile sectors, Wood embraces them.
She believes that disruptive innovation is the key to long-term growth and profitability. Her company, ARK Invest, works on high-risk areas like genomics, self-driving cars, and artificial intelligence.
Wood’s fame skyrocketed when her Tesla stock price prediction came true. In 2018, when Tesla was trading at around $300 per share, Wood predicted it would hit $4,000 within five years.
Many people laughed at her prediction, but by 2020, the split-adjusted price of Tesla’s stock was higher than her goal price. This proved she was right and gave her a reputation as a visionary in the investment world.
What is Cathie Wood’s Net Worth and Salary in 2023?
As of 2023, Cathie Wood’s net worth is estimated to be around $250 million. This wealth comes primarily from her role as the CEO and founder of ARK Invest. As the head of a successful investment firm, her pay is unknown, although it’s likely high.
Wood’s net worth has grown substantially in recent years thanks to the success of her investments. The ARK Innovation ETF, ARK Invest’s flagship investment, has made Wood rich. Her net worth rises and falls with market conditions based on her investments.
Cathie Wood’s Overview
Early Life
Catherine Duddy Wood, known as Cathie Wood, was born in Los Angeles, California, on November 26, 1955. As the eldest child of Irish immigrants, she grew up in a family that valued education and hard work.
Her father, a Irish Army and US Air Force radar systems engineer taught her to value technology and its potential impact on society.
Wood got her early schooling at Notre Dame Academy, a Catholic all-girls high school in Los Angeles, from which she graduated in 1974. She then went to college at the University of Southern California (USC), where she got a Bachelor of Science in Business and Economics in 1981.
At USC, she was mentored by economist Arthur Laffer, an advisor to Presidents Reagan and Trump. This mentorship played a significant role in shaping her future career in investment and finance.
Career
Arthur Laffer hired Wood as Capital Group’s associate economist in 1977. After three years, she relocated to New York City as chief economist, analyst, portfolio manager, and managing director at Jennison Associates for 18 years.
In 1998, Wood co-founded Tupelo Capital Management, a hedge fund based in New York City, with Lulu C. Wang. She managed $800 million in global thematic strategies at Tupelo before joining AllianceBernstein in 2001.
She managed $5 billion for twelve years as AllianceBernstein’s Global Thematic Strategies CIO. She was blamed for underperforming the market during the 2007–2008 financial crisis.
Wood’s career took a big turn in 2014 when she started Ark Invest. This was after AllianceBernstein told her that her idea for actively managed exchange-traded funds based on disruptive innovation was too risky.
Ark Invest invests in disruptive technologies like AI, DNA sequencing, robotics, energy storage, and blockchain. The firm’s first four exchange-traded funds (ETFs) were seeded with capital from Bill Hwang of Archegos Capital.
Wood’s bold approach to investing and her predictions about Tesla has put her in the spotlight. She has been a Tesla bull since the electric car maker’s early days and has held her ideas with conviction despite criticism.
Her firm now offers seven ETFs and manages nearly $19 billion. Its flagship fund, ARK Innovation ETF (ARKK), posted a 94% return in 2020, topping 99% of funds in its category.
Wood has received several accolades. In 2019, Fortune named her to its exclusive roundtable of experts in the annual Fortune Investors Guide.
She was named to Bloomberg’s second annual Bloomberg 50 list of global business Influencers 2018. In 2016, she received the “Women in Finance – Outstanding Contribution Award” from Markets Media.
Ark Invest
Ark Invest is an asset manager focusing on disruptive innovation. The company’s investment strategies include:
- Autonomous Technology and Robotics
- Next Generation Internet
- Genomic Revolution
- Fintech Innovation
- 3D Printing
- Israel Innovative Technology
- Mobility-as-a-Service
- Space Exploration
- ARK Disruptive Innovation Strategy
Some of the stocks that Ark Invest owns include Coinbase Global (COIN), Roku (ROKU), Block (SQ), Tesla (TSLA), and Zoom Video Communications (ZM). These ETFs saw big profits in 2020 but losses in 2021 and 2022.
She has also embraced social media, amassing over a million followers on Twitter and nearly 15 million views on Ark Invest’s YouTube videos. This online outreach has particularly appealed to younger investors, contributing to her firm’s growth.
However, Wood’s investment strategy has also faced criticism. In 2022, Ark Innovation lost around 67% of its value, while the S&P 500 dropped about 19%. Wood believes Ark Invest’s performance should be measured over five years since her portfolio’s young, unprofitable firms need time to grow.
Cathie Wood’s Stance on Bitcoin
One of the most notable aspects of Wood’s investment strategy is her bullish stance on Bitcoin. She told Bloomberg on June 19, 2023, that Bitcoin hedges inflation.
Wood predicts a $1 million Bitcoin price despite deflation. ARK Invest predicts Bitcoin to become a “multitrillion-dollar market” in seven years, owing to its solid foundations.
Wood’s confidence in cryptocurrency extends beyond Bitcoin. ARK Invest also bought $12.6 million of Coinbase (COIN) shares. This is the second day in a row that the fund has bought Coinbase stock after the SEC sent the company a Wells Notice.
Wood worries about U.S. cryptocurrency regulation. At a May 24, 2023 conference, she said the U.S. is “losing” the Bitcoin movement owing to its regulatory framework.
She noted Coinbase’s permission to operate in Bermuda and plans to grow in Singapore as evidence of cryptocurrency’s migration away from the U.S.
Cathie Wood’s Crypto-NFT Holdings
Wood’s enthusiasm for cryptocurrencies extends beyond Coinbase. She has been optimistic about Bitcoin, calling it a “deflationary currency” and a “great insurance policy” for firms diversifying their balance sheets.
She thinks all US firms diversifying 1-10% of their reserves into Bitcoin could double or tenfold the price.
In addition to cryptocurrencies, Wood has expressed excitement about the potential of NFTs and decentralized finance (DeFi). She sees digital property rights, which NFTs represent, as becoming “incredibly important.”
Async Art, an NFT platform, allows digital artists to build base layers and other artists to change them by paying royalties to the original inventor. Wood still values these digital assets despite market turbulence.
Personal Life
Wood experienced a significant event when she divorced her husband, Robert Wood, in 2003. After their divorce, Robert battled cancer and passed away in 2018. Despite their separation, Cathie welcomed him back into their home during his illness so their family could be together.
A cornerstone of Wood’s life is her devout Christian faith. She attends Walnut Hill Community Church and regularly discusses how her faith guides her.
She starts each day with prayer and reading from a devotional, seeking guidance for her actions. Her faith helped her through the 2000 and 2008 stock market crises and divorce.
FAQs about Cathie Wood
Cathie Wood family?
She was previously married to Robert Wood, who passed away in 2018. Together, they had three children: Caitlin, Caroline, and Robert.
Cathie Wood age?
As of 2023, she is 67 years old.
Conclusion
Cathie Wood is a trailblazer in the world of finance. Her distinctive investing style and ability to predict trends have made her one of the most successful and influential investors. Wood’s net worth shows that investing in revolutionary technology is risky but profitable.
