Kenneth Griffin is a successful hedge fund manager and investor. He is also the founder and Chief Executive Officer of the Citadel LLC, a global hedge fund firm. Citadel is worth over $25 billion in investment capital and is mapped in the world’s top investment firms. Ken Griffin is estimated to have a net worth of $6.6 billion as of the Forbes report on May 2015. He is also a known philanthropist and his donations to various institutes and projects have summed up to about $500 million.
Mr. Griffin is a Florida Dayton native born in 1968. He went to Harvard University in 1986 on and that is where he began investing during his first year after reading an article on Forbes magazine on citadel.com. He began a hedge fund that majored on convertible bond arbitrage. This fund ran on a capital of $265,000 which he had solicited from his friends and family. He had also installed a satellite link which enabled him to stay on the internet so as to get live updates from the stock market. Kenneth had an investment plan that helped preserve his hedge fund in the while of the stock market collapse in 1987. After a noted success in the hedge fund business, he decided to launch a second fund. The two funds were averaged to be about $1 million. He later on graduated with a degree in Economics in 1989.
Kenneth was offered $1 million dollars by Glenwood Capital LLC founder and investor Frank C. Meyer so as to invest. He on the other end superseded Frank’s expectations and made more than 70 percent return according to The New York Times. He moved on and started the Citadel in 1990 with a capital base of $4.6 million. Citadel grew to accommodate 100 employees and an investment capital of about $1 billion. He was noted as one of the most influential people in the finance world since 2002. He joined the Forbes 400 in 2003. Kenneth was ranked 8th richest American under the age of forty in 2004. He was worth $3billion by 2007. He had an estimated net worth of $5.5 billion by 2014.
Kenneth Griffin gave his opinion on “The Role of Regulation in Shaping Equity Market Structure and Electronic Trading” at the U.S. Senate Committee. He stated that the Industry regulations catch up with the changes in the market structure so that the fairness and resilience of the Equity markets may be increased.
Besides being actively involved in the Finance world, Kenneth Griffin is also huge philanthropist. He is also known to have joined hands with the Bill and Melinda Gates Foundation to support the opening of the Woodlawn High School. He is also recognized to have given $10million to the Chicago Heights Early Childhood Center, is an endeavor that was designed to test on the factors that would improve a child’s performance. Mr. Kenneth gave $16 million to the Children’s Memorial Hospital. The Citadel Group Foundation (CGF) and Griffin have continually supported the education institutes.