Kenneth C. Griffin
Kenneth C. Griffin (born October 15, 1968, Daytona Beach, Florida) is an American hedge fund manager, founder and CEO of the global investment firm Citadel, founded in 1990. As of March 2015, Citadel is one of the world's largest alternative investment management firms with an estimated $25 billion in investment capital. Citadel's group of hedge funds rank among the largest and most successful hedge funds in the world. Forbes identified Griffin as one of 2012ís highest earning hedge fund managers as well as one of the Forbes 400.
Kenneth C. Griffin was born in 1968 in Daytona Beach, Florida. In high school, he excelled academically while also was president of his math club. In 1986, Griffin started to invest during his freshman year at Harvard University after reading a Forbes magazine article.
During his second year at Harvard, he started a hedge fund focused on convertible bond arbitrage. The fund was capitalized with $265,000 from friends and family, including money from his grandmother. He installed a satellite link to his dorm to acquire real-time market data. The investment strategy helped preserve capital during the stock market crash of 1987. Griffin's early success enabled him to launch a second fund, and between the two funds he was managing just over $1 million. Griffin graduated from Harvard in 1989 with a degree in economics.
After graduating from Harvard, Frank C. Meyer, an investor and founder of Glenwood Capital LLC, provided Griffin with $1 million to invest. Griffin exceeded Meyer's expectations and, according to The New York Times, Meyer made 70 percent return on the investment.
In 1990, Griffin founded Citadel with $4.6 million. By 1998, Citadel had grown to a team of more than 100 employees and $1 billion in investment capital.
In June 2002, Griffin was included in CFO Magazine's Global 100, a list of the most influential people in the world of finance.
Griffin has appeared numerous times in Forbes' Forbes 400, first in 2003, with an estimated net worth of $650 million. At 34, he was the youngest self-made individual on the list. In September 2004, Fortune magazine ranked Griffin, who was 35 that year, as the eighth richest American under forty in the category of self-made, United States-based wealth. In 2006, Griffin was the fifth youngest of the seven members under the age of 40 listed on the Forbes 400. In 2007, Griffin had an estimated net worth of $3 billion. By 2014, Griffinís net worth was estimated at $5.5 billion.
As of January 2016, Citadel manages more than $25 billion in capital and is one of the world's largest asset managers. Citadel ranks as the eleventh largest hedge fund manager in the world, and the second largest multi-strategy hedge fund globally. Citadel's group of hedge funds rank among the largest and most successful hedge funds in the world. The hedge fund's assets under management has increased by 29% and more than $10 billion since 2014.
Citadel manages funds across five different investment strategies including equities, commodities, fixed income, quantitative strategies, and credit.The firm is known for its state-of-the-art technology, fundamental research, and strong risk management culture.
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"Capital markets reward you for what you learn that other people have yet to ascertain."
"My advice to every student who is trying to make a decision for the years immediately after graduation: take the opportunity that in your mind is the most rewarding, that you are most passionate about and that you find most interesting and save the rest of your life for being risk averse. Whatever you want to do, this is the time to pursue it. Twenty years from now, your freedom to take risks will be limited."