Kenneth Griffin was born in 1968 and is an American Hedge Fund manager. Ken Griffin founded Citadel, and he is the current CEO. Citadel is a global investment firm with a capital of about $25 billion. It is one of the largest investment management company. Griffin’s net worth is estimated to be $6.6 Billion.
- Early life and education
He was born in Daytona Beach in Florida, but he resides in Chicago, Illinois. During his first year at the Harvard University, he began to invest. This was after he read a Forbes magazine article. During the second year, Ken Griffin launched a hedge fund that focused on convertible bond arbitrage. The fund was capitalized with $265,000 from friends and relatives. He installed a satellite link to the hostel where he was able to get real-time market data and analysis. This strategy helped him to preserve his investment during the stock market crash in 1987. He graduated with a degree in economics in the year 1989.
Immediately after he graduated, Frank C. Meyer provided Griffin with over $1 million for investment. Frank C. Meyer founded Glenwood Capital LLC. Mr. Griffin performed beyond the expectations and Frank Meyer was able to recover more than 70% on his investment.
- Mr. Griffin at Citadel
Mr. Griffin founded Citadel in 1990 with a capital base of $4.6 million. By 1998, the organization had developed with about $1 billion capital and over 100 employees. In June 2002, Griffin appeared in the list of the most influential people in the world of finance. Within his 20 years tenure in office, he has featured the Forbes magazine for numerous times. In 2004, he appeared in the Fortune Magazine where he was ranked 8th richest under forty. His net worth in 2007 was estimated to be $3 billion but by 2014 his net worth has increased to $5.5 billion.
- Griffin’s views on market structure
Griffin has voiced his opinion on market structure and financial regulations. He has testified to many government hearings. For instance, his testimony at the US Senate Committee exposed the need to have industrial regulations match up with market structure changes. The intention was to enhance fairness and resilience for the American Equity markets.
- Board membership
He is a member of the Capital Markets Regulation Committee. Griffin is a member of the G100, which is an association of 100 CEOs who meet from time to time to discuss the global economy. He was elected to serve a five-year term on the Board of Trustees at the University of Chicago. He is a member of various organizations;
- Economic Club of Chicago
- Commercial Club of Chicago
- Chicago Public Education Fund
Mr. Griffin has donated over $500 million to support various institutions and causes. In 2006, Bill and Melinda Gates Foundation and Griffin funded the opening of a charter school in Chicago. In 2015, he donated over $10 million to the Museum of Contemporary Art in Chicago.