Chicago Hedge Fund Billionaire Ken Griffin Flees Illinois

By P. J. McNeil, The Chicago Times

June 23, 2022

CHICAGO – Ken Griffin, CEO and founder of famed hedge fund company Citadel, LCC announce the company is relocating to Florida.

Griffin announced the decision Thursday that he has moved his family to Miami and the headquarters of his Citadel hedge fund and, Citadel Securities, will also be relocating to Miami.

“Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois.  Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York, and our other offices around the world.” Griffin stated in a memo to employees.

Griffin recalled Chicago as “remarkable home” for Citadel and praised past support from political and business leaders. However, Griffin spoke frankly via other outlets that one main reason to leave is the rising crime in the Chicagoland area, which has made it harder to attract top talent to Citadel. 

Griffin is estimated to be worth more than $24.5 billion and has been a leading philanthropist in Chicago and Illinois, donating about $500 million to local causes, but he’s also been noted for his heavy spending on politicians.