He was born on October 15, 1968 at Daytona Beach in Florida. Kenneth C. Griffin is currently an American hedge fund manager. Ken Griffin founded the Citadel which is a global investment firm. He is the CEO of this firm.
Citadel is one of the world’s renowned alternative investment management firms as they are ranked among the world’s largest and most successful hedge funds on businessinsider.com. As at May 2015, Griffin’s net worth was estimated at $6.6 billion.
Kenneth C Griffin is also known for his philanthropy. In January 2014 he made donation to Harvard University worth $150 million to the financial aid program. Harvard University is his Alma Mater and this donation was the largest ever received by the institution during that time. His donations to various charities and organizations have added up to about 500 million dollars.
During his freshman year at Harvard, Kenneth C Griffin was reading a Forbes magazine article which inspired him to start investing. While in his sophomore year, using a capital $265,000 of he initiated a hedge fund which focused on convertible bond arbitrage. This starting capital was sourced from friends and family, most notably, from his grandmother.
He had a satellite link get installed in his dorm so that he could get the market data as they occurred. This investment strategy helped save some capital during the 1987 market crash and the subsequent depression. This success with his initial hedge fund made it possible for him to begin a second fund. They both valued at just over one million dollars at the time. In 1989, he graduated from Harvard University with a degree in Economics.
After Kenneth C Griffin’s graduation, the founder of Glenwood Capital LLC and an investor, Frank C. Meyer provided him with an opportunity to invest $1 Million. Meyer made a 70% return on his investment, having his expectations exceeded by griffin. This was according to the New York Times.
In the year 1990 Griffin founded Citadel with a starting capital of $4.6 million. Eight years later the company had recorded a tremendous growth with a team of more than 100 employees and 1 billion dollars investment capital.
Two decades in the industry later, Kenneth C Griffin has graced Forbes’ list a good number of times in the Forbes’ 400 in his position as the CEO of Citadel. His debut appearance on the Forbes’ 400 was in the year 2003 with a net worth estimated at $650 million. He was the youngest self-made man on the list. He was 34. The following year, at 35 he was ranked again on Forbes’ as the eight richest American under forty self-made and US-based wealth. In 2006 again he was on the Forbes’ 400 and this time as the fifth youngest out of the seven members under the age of 40. The following year his net worth was an estimated 3 billion dollars and by 2014, seven years later, his net worth was at an estimated 5.5 billion dollars.
His company Citadel has received an award for being among the top ten Great Workplaces in financial services. The ranking was done by the Great Places to work Institute, based on the findings of a survey by citadel employees.