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Trump gains another major support in the economic world as he seeks re-election

Trump gains another major support in the economic world as he seeks re-election
Trump gains another major support in the economic world as he seeks re-election


Cathie Wood, CEO and CIO of ARK Invest, describes the profound changes the artificial intelligence industry has seen over the past decade.

Ark Invest CEO Cathie Wood said she would vote for former President Trump over President Biden in the November presidential election, basing her decision solely on who she thinks would be the better for the country's economy.

Wood participated in an interview with financial analyst and YouTuber Kevin Paffrath of “Meet Kevin,” during which he 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.

“Like I told them, 'Look, I'm going to vote for the person who's going to do the best job for our economy,'” Wood told Paffrath. “I am a voter on the economy, and as such, Trump.”

Trump's billionaire friends boost his presidential bid

Cathie Wood said she would vote for Trump over Biden because she is voting for whoever will 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 because of COVID, and I agree “.

Wood and Trump did not immediately respond to FOX Business' requests for comment.

This informal support follows several billionaires sending money and support to Trump's presidential campaign.


Former President Trump holds rally in Florida. (Reuters/Reuters)

Billionaire Stephen Schwarzman, CEO and co-founder of Blackstone, announced last month that he would support Trump in the 2024 race after previously calling on the Republican Party to look to a “new generation of leaders.”

Billionaire hedge fund founder John Paulson hosted a fundraiser for the Trump campaign at his home in Palm Beach, Florida, in early April. Guests were asked to contribute $814,600 per person to serve as a “chairman” who could sit at Trump's table, or $250,000 to be a contributor to the “host committee.”

Billionaire Robert Mercer and his daughter, Rebekah Mercer, were listed as co-chairs of the Paulson fundraiser. Both men were important supporters of Trump in 2016, but mostly missed his 2020 re-election campaign.

Trump aims to level playing field in fundraising battle with Biden as Republican billionaires come to the rescue

Republican presidential hopeful and former President Donald Trump gestures as he speaks at a rally in Laconia, New Hampshire, January 22, 2024. (TIMOTHY A. CLARY/AFP via Getty Images / Getty Pictures)

Oil tycoon Harold Hamm, founder and chairman of Continental Resources who helped pioneer hydraulic fracturing techniques to extract shale oil, was also named chairman of the event.

Casino mogul Steve Wynn was another billionaire listed as a co-chairman of the event, as was Todd Ricketts, a Chicago Cubs co-owner and TD Ameritrade board member who previously served as the RNC's finance chairman.

The Paulson fundraiser in early April brought the Trump campaign more than $50 million, the campaign said.


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, in 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, the largest privately held oil company in the United States; George Bishop, founder of GeoSouthern Energy; and Kelcy Warren, head of pipeline company Energy Transfer Partners.

Conservative billionaire Timothy Mellon last month made a massive $50 million contribution to a super PAC supporting Trump's White House bid.

According to a federal document filed Thursday, Mellon made his contribution to Make America Great Again (MAGA) Inc. the day after Trump was convicted on all 34 counts in his criminal trial, which is the first involving a former or current president in the history of the nation.


The New York Times was first to report the contribution from Mellon, heir to the Pittsburgh-based Mellon banking family.

In its fundraising filings, MAGA Inc. revealed that it raised more than $68 million last month, with most of the money coming from Mellon, and another $10 million from conservative mega donors Dick and Liz Uihlein, founders of the Uihlein shipping and transportation company. packaging company.

FOX Business' Eric Revell, Andrew Mark Miller, Paul Steinhauser, Bradford Betz and Aislinn Murphy contributed to this report.




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