It was during his years as a college freshman that Ken Griffin realized that he had superior technology that gave investors and advantage that they couldn’t’ refuse. It was in the 1980’s when the billionaire was sitting in a dorm room at Harvard University and installed a satellite dish on the top of his dorm room so he could use the television to access stock quotes. Back in the 1980’s that was something that was unheard of for such a young man. This was the starting point of a man that would later go on to make over $24 million and run a hedge fund empire in Chicago. He is one of the wealthiest men in the hedge fund world because of his swift talent and unbeatable determination.
Citadel is a team that continually hits home runs. They have three big funds, which dominated the market last year. Their fund surged nearly 28 percent last year alone. Their Global Equities Fund rose to over 23 percent. Comparing them with other hedge fund companies is interesting. Their competitor, the S & P 500 had a gain of 11 percent last year. Compared to Citadel’s 23 percent, it’s hardly comparable. The average gain for a hedge fund competitor last year was a little over two percent. The reports from eVestment show that Citadel is the company to be with for hedge fund investments.
Griffin takes home around a billion dollars a year as a paycheck from Citadel. It’s obvious that this company is making him one wealthy person. In 2013, he made a surprising $950 million in investments. This classified him as the fifth highest paid manager in the world. These reports were generated from Institutional Investor’s Alpha. This company is responsible for tracking hedge funds and making sure everything is accurate. In 2012, he brought in $900 million. For 2011, his salary was $3.9 billion. It seems that since 2009, Griffin has been on a roll.
Though the man seems to have it all, he has also been known to give away his fortune to charitable causes. Take for instance his donation to Harvard University last year. He gave $150 million to help fund tuitions for those who couldn’t’ afford to pay for schooling. It was the largest reordered gift ever given to the college in its history. He also donated $10 million to the Chicago Museum of Art to help further their programs and development.
Because Griffin has more than 30 years of experience in the market, he is one of the most trusted voices when it comes to hedge funds. He has more money than God, but that doesn’t stop him from being charitable and contributing back to society. Citadel employs over 7,000 people and getting training from him shows that he is the one who really knows how to get things done. As Chicago’s richest man, he has made his mark on the “Windy City” and on the books as one of the wealthiest in the hedge fund industry.