Ken Griffin was born on October 15, 1968, in Daytona Beach, Florida. Griffin went on to Harvard University and earned a bachelor’s degree. He started trading while still in college, and by the period he graduated, he had earned a million dollars.
Ken Griffin Success
Citadel LLC, his own hedge fund, was founded by him in 1990. Throughout the 1990s and early 2000s, the firm was enormously profitable, and Mr. Griffin began to appear on Forbes and Fortune’s lists of the wealthiest Americans. In 2008, his firm, like other funds, took a hit. In the aftermath of 2008, he lost over a billion dollars in net worth, while his fund lost $9 billion. He finally recovered, and now manages more than $35 billion, putting him back on track to pre-recession levels.
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Ken has received criticism and even hatred from certain small-time investors as a result of his computerized trading firm, Citadel Securities. These complaints may be traced back to the rise in popularity of “meme stocks” in early 2020. Many of these meme stocks, such as AMC and GameStop, were traded on the Robinhood trading platform.
As GameStop’s stock price skyrocketed in late January 2020, Robinhood changed it such that the meme stocks could only be SOLD. The buy button was completely eliminated. Citadel allegedly persuaded Robinhood to impose the trading limitations since the prices varied fast, according to critics. Because of the limitation, investors could only sell when the price was decreasing, resulting in some people losing money. Citadel denies having anything to do with Robinhood’s decision.
Ken Griffin’s Net Worth
|Net Worth:||$28 Billion|
|Date of Birth:||Oct 15, 1968 (53 years old)|
|Nationality:||United States of America|
Ken Griffin is an American businessman with a fortune of $28 billion USD. Griffin is the CEO of Citadel, a hedge fund that manages approximately $35 billion in assets.
Fixed income and macro, quantitative strategies, commodities, equity, and credits are the five key strategies of the Chicago-based firm. Citadel Securities, a worldwide market-making firm, was also created by him.
Ken Griffin Art Collection
He is a prominent art collector in addition to his hedge fund activities. He paid $500 million on two paintings in 2016, one by Jackson Pollack and the other by Willem de Kooning.
Ken Griffin Constitution
Ken spent $43.2 million at auction in November 2021 for an exceedingly rare first-edition copy of the United States Constitution. Griffin famously outbid a group of cryptocurrency speculators who pooled their $40 million in the hopes of winning the Sotheby’s auction.
Ken Griffin Real State
Ken spent $750 million on personal houses between 2013 and 2019. A $58 million home in Chicago (the most costlier purchase in Illinois’s historical past), a $60 million residence in Miami (a Miami record), a $17 million mansion in Hawaii, $200 million worth of LAND in Palm Beach, Florida, a $122 million mansion in London, and four floors of a $238 million building in New York City are among the items purchased. His acquisition in New York City established the record for the most expensive residence in US history.
Ken spent $75 million for a house on Miami’s Star Island in December 2021. The transaction set a new record for the most expensive property ever sold in Miami.