The much-hyped investment firm Ark Invest, led by Cathie Wood, has reportedly seen a massive erosion of wealth over the past ten years, amounting to a staggering $14.3 billion. What Happened: According to a recent Morningstar analysis, the wealth destruction at Ark Invest, a company that gained widespread attention for its high-risk tech investments, has been attributed to the 2022 bear market. This market downturn led to a 67% plunge in the firm’s flagship fund, ARK Innovation ETF, reported Business Insider on Tuesday. Despite the significant losses, Ark Invest still manages over $13 billion …