Pretty much already expected. Wonder what he'll do with his great apartment ? Billionaire hedge fund manager Ken Griffin is moving his company’s headquarters from Chicago to Miami. In a note to employees Thursday, Griffin said his investment firm, Citadel, will relocate to new headquarters in Miami’s financial district after more than 30 years in Chicago. Citadel, which has about 1,000 employees in Chicago, will maintain an office in the city, but many are expected to shift with the corporate locus to the Sunshine State, where Griffin, a Florida native, recently moved with his family. ADVERTISEMENT “Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois, Griffin said in his note. “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.” Citadel Securities, a co-owned trading firm, will also be making the move to Miami. Citadel has more than 4,000 employees in 17 offices worldwide. Paid Post What Is This? These powerful German hearing aids are hard to beat. See why The #1 hearing aids featuring German technology and enhanced speech clarity. Slots now available! See More Sponsored Content by Hear.com The wealthiest man in Illinois, Griffin founded Citadel in 1990 and built it into one of the largest hedge funds in the world. Worth a reported $27 billion, he has long been a civic force in Chicago, donating more than $1 billion to organizations such as the Art Institute, the Museum of Modern Art and the Museum of Science and Industry, which announced it would be renamed in honor of Griffin in 2019. But Griffin, 53, has also been a sharp critic of the city in recent years. In an appearance before the Economic Club of Chicago in October, Griffin cited increased crime and violence on the city streets as one of several reasons why Citadel, which has $51 billion in assets under management, was considering a move to greener corporate pastures. ADVERTISEMENT The Citadel move is the latest corporate blow for the Chicago area, with aerospace giant Boeing announcing last month that it was moving its headquarters to Arlington, Virginia after more than 20 years in the West Loop. Earlier this month, Caterpillar announced it would relocate its headquarters from north suburban Deerfield to an existing office in Irving, Texas, outside Dallas. The losses are offset somewhat by the announcement Tuesday that Battle Creek, Michigan-based Kellogg Company is splitting into three separate companies and locating its snacks headquarters in Chicago. The loss of Citadel could be costly, however, with the wealthy hedge fund principals and employees generating billions of dollars in tax revenue for the city and state over the past decade, according to Zia Ahmed, a Citadel spokesman. Citadel is leasing temporary space and working with Chicago-based Sterling Bay to develop its new corporate headquarters in Miami. Billionaire hedge fund manager Ken Griffin is moving his company’s headquarters from Chicago to Miami. (E. Jason Wambsgans/Chicago Tribune)
Chicago has lost one of its key philanthropists to the city and to the Museums...Art Institute, the Museum of Modern Art and the Museum of Science and Industry. Those are my favorite museums that I always visit whenever I'm in Chicago although I have not visited them since February of 2020 just before the Pandemic. Yet, if the move truly was because of the violence...he'll see it too in Miami but without the national headlines about Miami's crime. Personally, I think it's more about taxes and his need to be closer to home. It doesn't help that Mayor Lightfoot and him do not get along too well. Top 60 Crime Cities in the United States: Chicago, Illinois ranked 9th Miami, Florida ranked 25th https://fr.numbeo.com/criminalite/pays/Etats-Unis wrbtrader
%% Big trend; high tax+ regs \ move to low tax + low regs. Carl Ichan, CAT, Beretta, Smith & Wesson, Remington, ..... did the same big trend.
its not even about family. He can live anywhere he wants. It’s 100percent about taxes and I doubt the Chicago institutions lose any funding. He basically built the whitney museums new space downtown NYC.
%% He put it nice '' the teams have asked to move to Miami , NY....'' BUT clearly it was Chicago taxes + crime . Source=Elite Trader search ''Citadel'' Good old magazine Chicago CME ad , with Ken G stepping across an earthquake crack; with KG, Citadel Manages Risk. WORST thing about hi taxes is it tends to turn hi tax collectors+ hi tax gov in to control freaks
%% WONDER if he read Moneyball?? The stats book that changed baseball. Actually i did not\ but read some of the reviews+ played baseball in school.
Actually, he has homes all over the United States and most likely in a few places in the world in foreign countries. So yeah, you're right...he can live anywhere he wants. wrbtrader
Thank goodness for him he didn't move it to Connecticut. Hedge Funds don't have a very long life-expectancy there...