Ken Griffin was born in Florida in 1968. Today he is a billionaire, but all has been achieved through hard work and tireless endeavors. He started working on his dreams since he was young. He went to Harvard University and in his first year, in 1986, he started saving after motivation from a Forbes magazine article. The subsequent year, he started a hedge fund with $265, 000 dollars from savings and family donations. The donations included money from his grandmother. The hedge fund was focused on convertible bond arbitrage.
He started by installing a remote satellite on https://www.citadel.com/about/leadership/ in his room that he used to acquire information from the web. By 1987, he was able to maneuver through the stock market crash and launched another hedge fund managing over a million. Just after graduating from Harvard, Frank c. Meyer was interested in his early achievement and gave him 1 million to invest in. to his surprise he made over 70% in profits. This success set the fundamental base of who he is today.
He formed Citadel LLC with over four million dollars in 1990. By 1998, the company had tremendously grown from a small mid-level investment company to one of the largest global investment destination. The company had over 100 trusted and qualified employees to work with. By this time, all he had envisioned as a young undergraduate was starting to become reality. By 2004, he had appeared in Forbes 400 numerous times as the CEO of Citadel. By this time, his net worth was $650 million. By 2007, his net worth was $3 billion. In 2015, Citadel was named one of the best places to work in the universe. Citadel provides a collaborative working culture such as picnics and worker of the year.
Griffin has made statements on various market strategies and structures throughout the years as a CEO of Citadel. He has also testified at various committees on market structures and electronic trading. His greatest fear is losing the market due to inexperienced management. He emphasizes on pooling of risk to avoid failures at young stages for start-ups. He also states that the system and market have diversified making it difficult to predict future, but the best measures is to stay focused on the right procedure and marketing methodologies.
Apart from being the CEO of Citadel, he is a committee member of committee on Market Regulation and G100. G100 is a network of CEO that meets to control and make major market decisions and play modes. Griffin serves as a board member of University of Chicago board of trustees, Art Institute of Chicago and the Museum of Contemporary Art. In his other memberships, he is a member of Civic Committee of the Commercial Club. He is a great supporter of educational courses and initiatives.
He is a philanthropist, and this has extended to the society around him such as academic institutions. Together with his wife they formed the Kenneth and Anne Griffin Foundation that supports children’s schools and Hospital. He is a lover of art and has donated millions of dollars to different museums including the Museum of Contemporary Art in Chicago.