Portrait of Ken Griffin
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Ken Griffin on Chicago

Exodus from Chicago (strong) Position evolved

TL;DR

Ken Griffin emphatically relocated his hedge fund headquarters and personal life away from Chicago due to concerns over rising violent crime.

Key Points

  • He moved Citadel's headquarters from Chicago to Miami beginning in June 2022.

  • He cited having 25 bullet holes in the front of his Chicago residence as a major factor for leaving.

  • He made significant charitable donations to Chicago nonprofits in July 2022, prior to completing his move out of the state.

Summary

Ken Griffin, the founder and CEO of Citadel LLC, relocated his firm's global headquarters and his personal residence from Chicago to Miami, Florida, after living in the city for over three decades. The primary stated driver for this significant move was the deterioration of public safety and quality of life, which he characterized as an environment awash with violent crime. He cited personal experiences as evidence, noting that two colleagues had bullets fly through their cars and his former building had sustained 25 bullet holes in its facade.

Following the 2022 move of Citadel's headquarters, he continued to contrast the atmosphere between the two cities, describing Miami as a place where conversations are filled with optimism about the future, unlike Chicago, where discussions frequently focused on crime and failed policies. His divestment from Chicago was finalized with the sale of his final property in the city. This stance is also reflected in his substantial philanthropic efforts in Florida, complementing his business relocation, which included major donations to Miami-area and University of Florida educational and resilience initiatives.

Key Quotes

soaking the rich doesn't work

Frequently Asked Questions

Ken Griffin moved the headquarters of Citadel out of Chicago primarily due to concerns over the city's high levels of violent crime and a perceived decline in quality of life. He cited personal security incidents involving colleagues and his own building as key reasons for the decision.

Yes, Ken Griffin completed his transition from Chicago by selling his final property in the city. This final sale followed the earlier move of Citadel's headquarters to Miami.

Ken Griffin contrasted the atmosphere in Chicago with that of Miami, stating that dinner conversations in the Windy City often focused on crime and failed policies. He expressed that this was a stark difference from the optimism he observed in Miami regarding the future.