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Billionaire Ken Griffin said his hedge fund was Chicago The footprint will shrink to just two stories as crime, taxes and other challenges drive workers to move to Miami and New York.
“Chicago has unfortunately been engulfed in a series of problems over the last six or seven years,” Griffin said at the Citadel Securities Future of Global Markets conference in New York. New York on October 6.
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Ken Griffin, leader of one of the most successful hedge funds in the world, is worth $50 billion, according to Forbes. (Kayla Bartkowski/Getty Images/Getty Images)
The Windy City, which was Citadel’s headquarters for more than three decades, has shifted much of the company’s workforce and operations south to Miami in recent years.
Griffin, who is worth $50 billion according to Forbes, moved his company’s global headquarters to Florida in 2022.
“Asking people to leave Chicago and go to New York or Miami hasn’t been hard. We’ve gone from probably 1,300 people in Chicago to a couple hundred. From being the anchor tenant of one of the biggest skyscrapers to, I think within a year we’ll have gone to two floors,” he explained.
BILLIONAIRE KEN GRIFFIN MOVES HEDGE FUND FROM CHICAGO TO MIAMI AGAINST CRIME
Griffin moved his successful hedge fund to Miami, Florida in 2022. (Saul Martinez/Bloomberg/Getty Images/Getty Images)
Griffin, leader of the world’s most profitable hedge fund, said the departure of so many long-time employees has affected the Illinois‘increasing economic and social problems.
“I think the sad part of the story is how many people who had built a life in Chicago were willing to give that up and move to Miami or New York, especially given the challenges that Illinois has faced,” he said.
Griffin added that crime in Chicago remains one of the city’s most pressing challenges.
TRUMP’S NATIONAL GUARD TROOPS CAN REMAIN IN ILLINOIS, BUT FEDERAL JUDGE blocks deployment
President Donald Trump has threatened to expand the deployment of federal troops to support local law enforcement in cities such as Baltimore and New Orleans. (Jacek Boczarski/Anadolu/Getty Images/Getty Images)
His comments come as president Donald Trump is renewing its call for a federal crackdown on crime in major U.S. cities, a plan that includes deploying troops to some Democratic-led areas where violence is on the rise.
The president’s push to deploy National Guard troops across the country has repeatedly led to clashes with Democratic governors and mayors.
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Illinois Governor JB Pritzker has been one of the most outspoken critics of Trump’s deployment of troops and federal agents. (John Nacion/Getty Images)
Illinois Governor JB Pritzker was among the most vocal critics, condemning Trump’s deployment of troops and federal agents in Chicago.
Trump has also threatened to expand the deployment to other cities, including Baltimore and New Orleans. Troops have already been sent to Los Angeles, Washington, DC, Portland and Memphis.
