Ken Griffin Net Worth
Number of divisions: 12
What is Ken Griffin’s net worth?
Ken Griffin is an American entrepreneur with a net worth of $22 billion. Griffin is the CEO of Citadel, a hedge fund with more than $35 billion in assets under management.
The Chicago-based company has five core strategies in fixed income and macro, quantitative strategies, commodities, stocks and credit. He also founded Citadel Securities, a global market maker.
early life
Ken Griffin was born on October 15, 1968 in Daytona Beach, Florida. Griffin later graduated from Harvard University. He started trading while in college and had accumulated $1 million by the time he graduated.
success
Subsequently, he founded his own hedge fund company Citadel LLC in 1990. The company achieved great success in the 1990s and early 2000s, and Mr. Griffin began to appear regularly on the richest American lists published by Forbes and Fortune magazine. His company was hit hard in 2008, as did most funds. After 2008, his personal net asset loss exceeded 1 billion U.S. dollars, and his fund also lost 9 billion U.S. dollars. However, he eventually managed to recover and returned to his pre-recession level, managing more than $35 billion in funds.
Meme stock dispute
Through his electronic trading business Citadel Securities, Ken has become a target of criticism and outright hatred by some small investors. These criticisms can be traced back to the so-called “memetic stocks” that became popular in early 2020. Many of these memetic stocks, such as AMC and GameStop, are bought and sold on the trading platform Robinhood.
In late January 2020, Robinhood suspended stock trading on its platform due to the surge in GameStop’s share price. Critics claim that due to rapid price fluctuations, Citadel has pressured Robinhood to set trading restrictions. Restrictions prevent investors from selling when prices fall, causing some people to lose money. Citadel denied any connection with Robinhood’s decision.
Art collection
In addition to his hedge fund work, he is also an important art collector. In 2016, he spent $500 million to purchase two paintings, one by Jackson Pollack and the other by William de Kooning.
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Charity
To date, Griffin has donated more than $1 billion to various charities. He has donated to numerous organizations, including the University of Chicago, Ann & Robert Lurie Children’s Hospital, Field Museum of Natural History, Art Institute of Chicago, Museum of Modern Art, and American Museum of Natural History.
In early 2020, Ken Griffin and partners of Citadel and Citadel Securities donated US$20 million for COVID-19 work and Rockefeller University in China, Chicago, New York, and the United Kingdom.
constitution
In November 2021, Ken purchased an extremely rare copy of the first edition of the U.S. Constitution for $43.2 million at an auction. As we all know, Griffin bid more than a group of 40 million US dollars of cryptocurrency investors, hoping to win the auction conducted by Sotheby’s.
home
Between 2013 and 2019 alone, Ken spent $750 million on personal housing. These purchases include a $58 million home in Chicago (the most expensive purchase in Illinois history), a $60 million home in Miami (Miami’s record), a $17 million luxury home in Hawaii, and a $200 million in Palm Beach, Florida. Lands, a four-story building in a London mansion valued at US$122 million and a New York City building valued at US$238 million. His purchase in New York City set a record for the most expensive house in American history.
Wealth milestone
- Raised $265,000 from friends and family, and started investing in his dorm.Over 1 million U.S. dollars by the time of graduation
- The individual lost $1b in the 2008 crisis and his company lost $9b
- Today, his fully owned company manages 30 billion U.S. dollars
- Earned 1.4 billion U.S. dollars in 2018
- $750 million has been spent on personal real estate since 2013
- In 2017, he donated US$125 million to the University of Chicago
- In 2016, he spent 500 million US dollars to buy two paintings
- Holds the record for the most expensive home purchases in Illinois, Florida, New York and the U.S.
- His $200 million purchase in Palm Beach, Florida was just land. Still have to build a house!
- He bought the first four unfurnished floors of the building in New York City for $240 million.Still need to spend millions of dollars on furniture and fixtures (sinks, stoves, refrigerators)
