An American hedge fund manager by the name Kenneth C. Griffin was born on the 15th of October 1968 at Daytona Beach, Florida. He is the CEO and founder of Citadel which is a global investment firm. Citadel is one of the world’s largest alternative investment management firms on insidermonkey.com Its estimated investment capital is $25 billion as of March 2015. Globally, it is ranked among the most successful and largest group of hedge funds. Griffin was recognized by the Forbes as one of the Forbes 400 as well as the most earning hedge fund manager in 2012.
In May 2015, Griffin’s net worth was an estimate of $6.6 billion. At the start of 2014, he donated a sum of $150 million at Harvard University, his former school, to assist in a certain financial program. It was the most enormous donation ever made to the institution during that time. Approximately $500 million has been donated by Griffin to different causes and organizations.
Education and early life
Ken Griffin was born in Daytona Beach, Florida in the year 1968. During his first year at Harvard University, he began investing after going through an article in a Forbes magazine. He started a hedge fund whose main aim was to focus on convertible bond arbitrage. Family and friends capitalized the fund with $265,000 which included money form his grandmother. To acquire real-time market data, he had to install a satellite link to his dorm. This investment strategy was instrumental in preserving capital during the 1987 stock market crash. A second fund was made possible by his early success. He was managing just more than $1 million between the two funds.
Griffin was provided with $1 million to invest by Frank C. Meyer after he graduated from Harvard. Meyer was a founder and investor of Glenwood Capital LLC. Meyer’s expectations were exceeded by Griffin. According to an article in The New York Times, Griffin made a return of 70% on Meyer’s investment.
In 1990, Griffin founded Citadel with $4.6 million. Eight years later, the company had grown to a team of more than $1billion in investment capital and a team of 100 employees. Griffin was part of the CFO Magazine’s Global 100 issue of June 2002. It is basically a list of the most influential people in the finance world. After approximately two decades Graffin has been appearing as thE Citadel CEO.
His first appearance was in 2003 on the Forbes, with an estimate net worth of $650 million. He was the youngest self-made person on the list when he was 34 year’s old. When he was 35, in September 2004, griffin was raked as the 8th richest American below 40 years in Fortune magazine’s category of self-made. By 2006, he had climbed the ranks to be the 5th youngest out of a total of seven members below 40 years in list of Forbes 400. In 2007, he had an approximate net worth of three billion dollars.