Cathie Wood’s Ark Invest has destroyed $14 billion in wealth over the past decade, Morningstar says

• Cathie Wood’s Ark Invest has destroyed $14 billion in wealth over the past decade.
• A Morningstar analysis found that Ark Invest topped the list of wealth destroyers among other investment companies.
• “These funds managed to lose value for shareholders even during a generally bullish market,” Morningstar said.

Cathie Wood’s Ark Invest has destroyed an estimated $14.3 billion in wealth over the past decade, according to a recent Morningstar analysis.

Ark Invest was all the rage in 2020 and 2021, when its concentrated bets on highly speculative technology companies paid off in a big way thanks to low interest rates and a boom in risk appetite among retail investors.

Ark’s flagship innovation ETF, ARKK, soared nearly 150% in 2020, and that massive outperformance helped drive a surge of inflows into its funds right near its peak.

markets.businessinsider.com/news/funds/cathie-wood-ark-invest-wealth-destroyed-tech-stocks-morningstar-arkk-2024-2?utm_source=reddit&utm_medium=social&utm_campaign=insider-wallstreetbets-sub-post