Cathie Wood: Star investor leaves New York

Cathie Wood

The investor, who early bought Tesla shares and bitcoins, is known for her unconventional approach to stock analysis.

(Photo: Reuters)

New York Cathie Wood made a career in New York. Now the star investor is turning her back on the financial center. The head of the investment company ARK Invest is closing the company headquarters in Manhattan’s start-up district Flatiron at the end of the month and moving with the company to Florida, as she announced on Wednesday.

Wood wants to build a new headquarters in Saint Petersburg, in the west of the state, which – in line with her investment strategy – she calls “Innovation Center”. Construction work is scheduled to begin in the first quarter of next year.

The ARK boss, who invests exclusively in innovative, fast-growing companies with her exchange-traded funds, so-called ETFs, is following a trend that has been emerging since the beginning of the pandemic: More and more bankers and investors are leaving New York and moving to Florida where not only the weather but also the tax incentives are better.

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