Kenneth Cordele Griffin (born October 15, 1968) is an American billionaire investor, entrepreneur, and hedge fund manager. He is the founder, CEO, and co-chief investment officer of Citadel LLC, a leading global hedge fund, and the majority owner of the firm with an 80% stake. Griffin also owns Citadel Securities, one of the largest market-making firms in the United States. As of April 2023, his net worth is estimated at $35 billion, ranking him 38th among the world’s wealthiest and 21st on the 2022 Forbes 400 list of richest Americans. He is recognized for his philanthropic efforts, having donated over $1.5 billion to causes including education, healthcare, and economic mobility.
Early Life and Education
Griffin was born in Daytona Beach, Florida, to a father employed in building supplies and project management at General Electric. His grandmother, Genevieve Huebsch Gratz, inherited an oil business and several farms.
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| Born | October 15, 1968 Daytona Beach, Florida, U.S. |
| Education | Harvard University (BA) |
| Occupations | Hedge fund manager Entrepreneur Investor |
| Known for | Founder of Citadel LLC and Citadel Securities |
| Spouse | Katherine Weingartt (m. 1991; div. 1996) Anne Dias |
| Title | CEO and co-CIO, Citadel LLC |
| Children | 3 |
Raised mainly in Boca Raton, Griffin spent parts of his childhood in Texas and Wisconsin. From a young age, he demonstrated an entrepreneurial spirit, running a discount mail-order software business, EDCOM, from his bedroom while attending Boca Raton Community High School, where he also served as president of the math club.
In 1986, Griffin enrolled at Harvard College. There, he made his first investment profits by purchasing put options on the Home Shopping Network and experimented with convertible bond arbitrage strategies. Despite campus restrictions on operating businesses, he installed a satellite dish at Cabot House to access real-time stock quotes and opened a $100,000 brokerage account funded by family and other connections. At 19, he launched his first hedge fund with $265,000, shortly before the 1987 market crash, where he profited from short positions. Griffin graduated from Harvard in 1989 with a degree in economics.
Career
After college, Griffin moved to Chicago, working with Frank Meyer of Glenwood Capital Investments, who entrusted him with $1 million to trade. Griffin delivered a 70% return in his first year, showcasing his early talent. In 1990, he founded Citadel LLC with $4.6 million in assets under management. Citadel quickly gained attention for producing strong returns: 43% in 1991 and 40% in 1992.
In the early 2000s, Griffin expanded into market-making by establishing Citadel Securities. Despite facing setbacks during the 2007–2008 financial crisis, when Citadel's funds dropped 55%, Griffin navigated the firm through these challenges, returning 62% in 2009. Over the years, Griffin’s annual earnings from Citadel have ranged from hundreds of millions to over $1.8 billion in 2020. His net worth surged beyond $20 billion in 2020, driven by Citadel’s valuation and the profitability of Citadel Securities.
Griffin also faced scrutiny for his firm’s role in the 2021 GameStop short squeeze, particularly for investing in Melvin Capital and its connections to Robinhood’s trading restrictions, prompting his testimony before Congress.
Philanthropy
Griffin is a prolific philanthropist, having donated over $2 billion to charities, with a strong focus on education, STEM, healthcare, and the arts. He established Griffin Catalyst in 2023 to coordinate his philanthropic efforts. Notable contributions include:
- Harvard University: $150 million in 2014 for financial aid and $300 million in 2023 to its Faculty of Arts and Sciences.
- University of Chicago: $125 million to the Department of Economics, now named after him, and board service.
- Museums: $125 million to Chicago’s Museum of Science and Industry; $40 million to New York’s American Museum of Natural History.
- Historic Artifacts: Purchased the last privately owned copy of the U.S. Constitution for $43.2 million to display publicly.
- Healthcare: Multi-million-dollar contributions to hospitals, including Memorial Sloan Kettering, Nicklaus Children’s Hospital, and Sylvester Comprehensive Cancer Center.
- During the COVID-19 pandemic, Griffin funded food services for Chicago schoolchildren, medical research, and vaccine development initiatives.
Political Views and Activities
A Ronald Reagan Republican, Griffin has been a significant political donor, primarily supporting Republican candidates and conservative causes. He has advocated for smaller government, lower taxes, and free markets while criticizing policies he views as punitive to the wealthy. Griffin’s political engagement has included fundraising and advisory roles, as well as public statements on education and policy matters, including criticism of Harvard’s handling of campus debates on international issues.
Personal Life
Griffin has been married twice. His first marriage was to high-school sweetheart Katherine Weingartt (1991–1996). In 2003, he married Anne Dias, a hedge fund manager, and they had three children. The couple divorced in 2015 after a highly publicized settlement. Griffin maintains joint custody of their children and has largely kept his personal life private.
Griffin’s combination of investment acumen, entrepreneurial vision, and philanthropic commitment has made him one of the most influential figures in finance and philanthropy today.
References
- (No date) Bloomberg.com. Available at: https://www.bloomberg.com/news/articles/2022-01-11/griffin-fortune-soars-to-28-billion-on-citadel-securities-deal (Accessed: 09 January 2025).
- Jr., R.C.J. (no date) Businessman and philanthropist Kenneth C. Griffin celebrated for his landmark $50 million gift to sylvester, University of Miami News and Events. Available at: https://news.miami.edu/stories/2024/03/businessman-and-philanthropist-kenneth-c-griffin-celebrated-for-his-landmark-50-million-gift-to-sylvester.html (Accessed: 09 January 2025).
- Kenneth C. Griffin ’89: Investor and philanthropist: News: The Harvard Crimson (no date) News | The Harvard Crimson. Available at: https://www.thecrimson.com/article/2014/5/29/griffin-investor-philanthropist/ (Accessed: 09 January 2025).
- Villa, A. (2021) Billionaire Citadel founder Kenneth Griffin is buyer of $43 m. U.S. Constitution Copy, ARTnews.com. Available at: https://www.artnews.com/art-news/news/kenneth-griffin-us-constitution-copy-buyer-auction-1234610905/ (Accessed: 09 January 2025).
