The finance mogul Kenneth C. Griffin was born in Daytona Beach Florida in the year 1986. Mr. Ken Griffin realized his passion and a strong calling to set his foot in the murky waters of finance during his freshman year at Harvard University. He got inspired after reading an article published in the Forbes Magazine. Mr. Griffin started his first hedge fund during his second year at Harvard University. The hedge fund he set was mainly dealing with convertible arbitrage bonds. His success can be related to the satellite link he installed at the roof of his dorm; he was able to monitor the stock market and get accurate data. His first hedge fund was capitalized with a sum tuning to $265,000 that he got from family and friends.
The American hedge fund giant was able to evade the stock market crash of the 1987 and successfully set a second hedge fund with the capital he secured during the stock market crash. He was managing well over $1million between the two hedge funds. Ken Griffin on wsj later graduated from Harvard in the year 1989 with a degree in economics. Frank C. Mayer, an affiliate of Glenwood Capital LLC, invested a sum of $1 million on Griffin. Griffin would later surprise Frank by the returns his investment would bring. It was reported by the New York Times that Mr. Mayer made a 70 percent investment return.
Mr. Griffin is the mastermind behind Citadel LLC. This firm manages alternative investments. It covers investment strategies, all asset classes, and global regions. Citadel started out as a hedge fund back in the 90s, and it has since seen rapid growth and by 2008 it was managing just over $11 billion in assets. The firm has branch offices in New York, Boston, San Francisco, Chicago, Dallas, Hong Kong and London. Griffin’s firm also runs hedge fund administration businesses and market-making. This firm lends out capital to independent managers. Mr. Griffin has a vast knowledge in the financial world; in 2008 he was at the forefront in shunning the risk management practices of Wall Streets as they would impact the market structure negatively. Citadel was ranked among the Top 10 Great Workplaces in the finance world. This was based on a survey that was done on the employees of Citadel. Citadel’s CEO was also commended for providing a favorable and a collaborative work environment, his employees enjoyed services like free lunch, trips to the museum and even personal gifts. Mr. Griffin has featured many times in the Forbes Magazine, and he first appeared in 2003 having an estimated net worth of $650 million. Griffin was the youngest self-made individual on the list. Fortune magazine ranked Griffin the eighth richest American below forty in May 2004. The CFO magazine included him in the list of the most influential individuals in the finance world.
Mr. Griffin has extended his charitable hands to many organizations, the total amount of donations he has made totals to $500 million. Some of his philanthropic acts include the 2014 donation he made to his alma mater, Harvard University and the 2015 donation to the Museum of Contemporary Art in Chicago.