Ken Griffin is a well-known hedge manager who has won numerous industry awards for his skills in investment management. As the CEO of successful investment firm, Citadel, Kenneth overseas more than $25 billion in investment capital. Since forming Citadel, he is able to transform the corporation to become one of the largest in the hedge fund industry. Currently, the net worth of Mr. Griffin is estimated to be about $6.6 billion.
Prominent business magazine such as Forbes has declared him among the best hedge fund managers. In fact, Kenneth is not only acknowledged by his peers, but he is also well -known in the social circles of the United States. As an Alma Matter of Harvard University, he recently donated $150 million to the institution for research. In addition, he has donated more than half billion dollars to charity and social cause.
Unlike some of his compatriots, the struggle to fame required patience and diligent effort. For instance, he started a small hedge fund in early 70s by borrowing capital from family and friends. The capitalization of the funds was only $265,000, which also required Insidermonkey fund manager Ken Griffin to sign contracts to return the initial investment if he failed. However, his knowledge in the convertible bond arbitrage provided stability to the capital. Interestingly, his initial success is credited to the innovative solutions that includes installing a satellite link in his house to receive instant trade data. Perhaps, instant access to market data provided Kenneth the opportunity to preserve his investment capital during the crash of 1987. At the time, Kenneth had increased his investment portfolio from $0.25 million to almost $1 million.
During his senior year at Harvard, Kenneth’s remarkable skills were noted by the CEO of Glenwood Capital, Frank Meyer. Frank was so confident in Kenneth’s skills that he gave full rights to Kenneth to invest $1 million in the market without any contractual obligation. The decision paid off as Kenneth produced 70 percent return on investment. Just when the US economy was rebounding from the crash of 1987, Kenneth started his own company with $4.6 million. The new company, Citadel, gained immense popularity within few years reaching $1 billion mark and employing more than 100 workers.
Road to Fame
In June 2002, Forbes magazine declared Kenneth Griffin as one of the most influential peoples in the world of finance, and he was also included in the CFO 100 list. In 2003 and 2004, Kenneth was on almost every list published by Forbes. He was recognized as one of the youngest self-made entrepreneurs; whereas his company was rated as one of the best places to work by the Great Places to Work Institute.
As stated, Mr. Griffin is also very popular in the social circles. He is involved in many activities including membership in various advisory boards, philanthropy, political campaigns and artistic endeavors. He continues to support various institutions and charities in the Chicago area including Art Institute of Chicago, Children’s Memorial Hospital, Chicago’s Early Childhood Center and a number of public schools. Accordingly, he is an active patronage of art who has large number of private art collection at his disposal.