Ken Griffin Net Worth

Ken Griffin Net Worth:
$28 Billion

What is Ken Griffin's net worth?

Ken Griffin is an American entrepreneur who has a net worth of $28 billion dollars. Griffin is the CEO of Citadel, a hedge fund with over $35 billion in assets under management.

The Chicago-based company has five core strategies in fixed income and macro, quantitative strategies, commodities, equities and credit. He also founded Citadel Securities, a global market-making business.

Early Life

Ken Griffin was born in Daytona Beach, Florida on October 15, 1968. Griffin went on to graduate from Harvard University. He began trading while in college, and had amassed a million dollars by the time he graduated.

Success

He then launched his own hedge fund company, Citadel LLC, in 1990. The company was massively successful throughout the 90s and early 2000s, and Mr. Griffin started regularly appeared on the lists of richest Americans published by Forbes and Fortune. His company took a beating in 2008, as did most funds. He personally lost over a billion dollars in net worth in the aftermath of 2008 and his fund lost $9 billion. He eventually managed to recover, however, and is back at pre-recession levels with more than $35 billion under management.

Meme Stock Controversy

Through his electronic trading operation, Citadel Securities, Ken has become the target of criticism and outright hate from some small-time investors. These criticisms can be traced to the so-called "meme stocks" that shot up in popularity in early 2020. Many of these meme stocks, like AMC and GameStop, were being bought and sold on the trading platform Robinhood.

In late January 2020, as GameStop's share price was exploding, Robinhood temporarily made it so those meme stocks could only be SOLD. The buy button was removed altogether. Critics claim that Citadel pressured Robinhood to place those trading restrictions as the prices fluctuated rapidly. The restriction made it so investors could only sell at a time when the price was falling, causing some people to lose money. Citadel denied any involvement in Robinhood's decision.

Art Collection

In addition to his hedge fund work, he is also a major art collector. In 2016 he spent $500 million to acquire two paintings, one by Jackson Pollack, the other by Willem de Kooning.

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Philanthropy

Griffin has given more than $1 billion to various charities so far. He has donated to numerous organizations including The University of Chicago, the Ann & Robert Lurie Children's Hospital, The Field Museum of Natural History, the Art Institute of Chicago, the Museum of Modern Art, and the American Museum of Natural History.

In early 2020 Ken Griffin and partners of Citadel and Citadel Securities gave$20 million, for COVID-19 efforts in China, Chicago, New York and the U.K. Recipients include Greater Chicago Food Depository, Imperial College London, NYC COVID-19 Response & Impact Fund and Rockefeller University.

Constitution

In November 2021 Ken paid $43.2 million at auction for an extremely rare first-edition copy of the U.S. Constitution. Griffin famously outbid a group of crypto investors who pooled together $40 million with the hopes of winning the auction, which was conducted by Sotheby's.

Homes

Between 2013 and 2019 alone, Ken spent $750 million on personal residences. Those purchases include a $58 million home in Chicago (the most expensive purchase in Illinois history), a $60 million home in Miami (a record for Miami), 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 New York City building that cost $238 million. His New York City purchase set the record for most expensive home in the history of the United States.

In December 2021 Ken paid $75 million for a mansion on Miami's Star Island. The purchase set the record for most-expensive home sale in Miami history.

Wealth Milestones

  • Started out investing in his dorm with $265k raised from friends and family. Had over $1m by the time he graduated
  • Personally lost $1b in 2008 crisis, his firm lost $9b
  • Today his company, which he owns entirely, manages $30 billion
  • Made $1.4 billion in 2018
  • Has spent $750 million on personal real estate since 2013
  • In 2017 he donated $125m to the University of Chicago
  • In 2016 he spent $500m on TWO paintings
  • Holds the record for most expensive home purchase in Illinois, Florida, New York and the United States
  • His $200m purchase in Palm Beach, FL is just land. Still needs to build a house!
  • His $240m NYC purchase is the top four un-furnished floors of a building. Still needs to spend millions on furniture and fixtures (sinks, stoves, refrigerators)
Ken Griffin Net Worth

Kenneth C. Griffin

Net Worth:$28 Billion
Date of Birth:Oct 15, 1968 (53 years old)
Gender:Male
Profession:Entrepreneur, Businessperson
Nationality:United States of America
All net worths are calculated using data drawn from public sources. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. We welcome all corrections and feedback using the button below.
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