Ark Invest’s Cathie Wood’s Net Worth Slashed Over Half As Tech Bets Sour In 2022 | Forbes

Ark’s flagship ETF is crashing but Cathie Wood is doubling down, increasing her stake in her firm and betting on tech outfits like Tesla, Zoom and Coinbase to eventually rebound. The Ark Innovation ETF has crashed 60% this year, nearing…

Ark Invest's Cathie Wood's Net Worth Slashed Over Half As Tech Bets Sour In 2022 | Forbes

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Ark’s flagship ETF is crashing but Cathie Wood is doubling down, increasing her stake in her firm and betting on tech outfits like Tesla, Zoom and Coinbase to eventually rebound. The Ark Innovation ETF has crashed 60% this year, nearing its March 2020 low point, and the firm’s assets under management in all of its ETFs declined from a peak of more than $60 billion in February 2021 to $16 billion by the end of April. Based on that asset slump and stock declines for publicly traded asset managers like T. Rowe Price and WisdomTree, Wood is dropping off Forbes’ list of America’s richest self-made women this year.

Read the full story on Forbes: https://www.forbes.com/sites/hanktucker/2022/06/14/ark-invest-ceo-cathie-woods-tesla-zoom-coinbase-net-worth-slashed-by-65-as-tech-bets-sour-in-2022/?sh=6efecd06539c

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