Cathie Wood: The Ark of the deal
After betting big on Tesla and winning, the founder of Ark Invest is the new darling of Wall Street.
Joseph R. Biden has been elected the 46th president of the United States of America.
His victory was confirmed on Saturday afternoon after claiming Pennsylvania and its 20 electoral college votes.
“I am honored and humbled by the trust the American people have placed in me and in Vice President-elect Harris,” the president-elect said reacting to the win. “In the face of unprecedented obstacles, a record number of Americans voted. Proving once again, that democracy beats deep in the heart of America.”
Biden won Nevada later on Saturday bringing the Democrat’s tally to 290 electoral college votes - twenty more than required to become president.
His win makes history. The Scranton native, who turns 78 in two weeks, will become the oldest president in the history of the United States. Ronald Reagan, who previously held that honor, left office aged 77. His running mate, Kamala Harris, will be the nation's first female vice-president.
After some initial uncertainty about the outcome on the day after the election, with Donald Trump holding several states, including Florida and Texas, the prospect of the outgoing president winning a second term steadily declined in the hours and days that followed as votes continued to be counted.
On Thursday the former vice-president went before the cameras to declare, “We have no doubt that when the count is finished, Senator Harris and I will be declared the winners.” So it has proved.
Philly Special
Although six states had yet to declare a winner by Thursday evening, all eyes were on one, Pennsylvania, where Trump’s lead had dwindled as mail-in votes continued to be counted.
On Friday afternoon, when Biden overtook Trump in Pennsylvania, the result of the presidential election became a fait accompli, since most of the ballots that remained to be tallied were from Democratic party strongholds, including the state’s largest city, Philadelphia.
In a presidential election, when it becomes clear that your rival is going to win, it is customary for the loser to call them and concede – Hillary Clinton did as much four years ago – but Joe Biden is unlikely to be hanging on the telephone tonight.
The day after the election, President Trump filed lawsuits in Pennsylvania, Georgia and Michigan to try to get the count stopped after baselessly declaring victory in his campaign for a second term.
Not long after Biden was declared the winner Trump announced that his legal battle would continue, but few commentators give him any chance of reversing this result in the courts.
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After betting big on Tesla and winning, the founder of Ark Invest is the new darling of Wall Street.
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