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Ark Invest CEO Cathie Wood said she would vote for former President Trump over President Biden in the November presidential election, solely basing her decision on who she believes would be the best for the country’s economy.
Wood took part in an interview with ‘Meet Kevin’ financial analyst and YouTuber Kevin Paffrath, during which she was asked the popular question, "Trump or Biden?"
Wood told the host she has three children – two girls and a boy – with whom she has discussed the upcoming election with.
"As I’ve said to them, ‘Look, I am going to vote for the person who's going to do the best job for our economy,’" Wood told Paffrath. "I am a voter when it comes to economics, and on that basis, Trump."
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Cathie Wood said she'd vote for Trump over Biden because she votes for who would do the best job for the U.S. economy. (PATRICK T. FALLON/AFP via Getty Images / Getty Images)
She further explained that Laffer Associates founder and chairman Art Laffer "describes the first three years of the Trump presidency as the best in U.S. economic history, not the last one because of COVID, and I would agree."
Wood and Trump did not immediately respond to Gxstocks' requests for comment.
The informal endorsement comes on the heels of several billionaires sending money and support toward Trump’s presidential campaign.
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Former President Trump holds a rally in Florida. (Reuters / Reuters)
Billionaire Stephen Schwarzman, the CEO and co-founder of Blackstone, announced last month he will back Trump in the 2024 race after he previously called for the Republican Party to turn to a "new generation of leaders."
Billionaire hedge fund founder John Paulson hosted a fundraiser for Trump's campaign at his Palm Beach, Florida, home in early April. Guests were asked to contribute $814,600 per person to serve as a "chairman" contributor who could sit at Trump's table, or $250,000 to be a "host committee" contributor.
Billionaire Robert Mercer and his daughter, Rebekah Mercer, were listed as co-chairs of the Paulson fundraiser. The two were major Trump boosters in 2016 but had mostly sat out his 2020 re-election campaign.
Republican presidential hopeful and former President Donald Trump gestures as he speaks during a rally in Laconia, New Hampshire, January 22, 2024. (TIMOTHY A. CLARY/AFP via Getty Images / Getty Images)
Oil magnate Harold Hamm, the founder and chair of Continental Resources who helped pioneer fracking techniques in extracting shale oil, was also listed as a chair of the event.
Casino mogul Steve Wynn was another billionaire listed as a co-chair of the event, as was Todd Ricketts, Chicago Cubs co-owner and a member of the TD Ameritrade board of directors who previously served as the RNC's finance chair.
The Paulson fundraiser in early April netted the Trump campaign over $50 million, the campaign indicated.
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Former President Donald Trump (R) and former first lady Melania Trump (2nd-R) arrive at the home of John Paulson (L) with Alina de Almeida (2nd-L) on April 6, 2024, in Palm Beach, Florida. (Alon Skuy/Getty Images / Getty Images)
Trump attended a fundraiser in Houston, Texas, hosted by Hamm and other billionaires, including Jeff Hildebrand, founder of Hilcorp Energy, which is the largest closely held oil firm in the U.S.; George Bishop, founder of GeoSouthern Energy; and Kelcy Warren, head of pipeline firm Energy Transfer Partners.
Conservative billionaire donor Timothy Mellon gave a massive $50 million contribution last month to a leading super PAC supporting Trump's White House bid.
According to a federal disclosure filing on Thursday, Mellon made his contribution to Make America Great Again (MAGA) Inc. the day after Trump was convicted of all 34 felony counts in his criminal trial, which is the first involving a former or current president in the nation's history.
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The New York Times was first to report the contribution from Mellon, who's an heir to the Pittsburgh-based Mellon banking family.
In its fundraising filings, MAGA Inc. disclosed that it brought in over $68 million in fundraising last month, with most of the money coming from Mellon, with another $10 million from the conservative mega donors Dick and Liz Uihlein, founders of the Uihlein shipping and packaging company.
Gxstocks' Eric Revell, Andrew Mark Miller, Paul Steinhauser, Bradford Betz and Aislinn Murphy contributed to this report.
