Chicago, IL

Ken Griffin: The richest person in Chicago

Akhil Aravind

https://img.particlenews.com/image.php?url=2ZWp9e_0eK5aJrQ00
Wikimedia

Today we will go through the inspiring story of the richest person in Chicago - Ken Griffin - how he made his vast fortune and how he is utilizing his wealth for the good of society.

Ken Griffin, founder and CEO of Citadel LLC is the richest person in Chicago with a real time net worth of $25.5B as of 20th February 2022.

Early life

Griffin was born in 1968 in Daytona Beach. He spent his childhood across Florida, Texas, and Wisconsin and showed his entrepreneurialism early on. He started his first business, a discount mail-order education software firm called EDCOM, when he was still in high school.

Education & Entrepreneurialism

He started to make a small range of investments in 1986 while he was studying economics at Harvard. His inner passion and enthusiasm as a young business mind convinced the Harvard authorities to allow him to install an antenna to observe the stock prices on the stock market in real time. This was an exception since the university usually didn’t let outsiders install equipment in their compound.

Also in 1987, at an age of 19, he launched his first fund with $265,000. In 1989, he graduated from the university with a degree in economics. Then he moved to Chicago for working in Glenwood Capital Investments. Later he started his own business, Citadel LLC, on 1st November 1990 with an initial capital of $4.2 million.

Through his company, Griffin generated more than $28 Billion in profit as an average annual return of 20 % for his clients. Citadel now has $39 billion in assets and is estimated to have a profit of $ 2.36 billion during the first half of 2020.

Helping hands for Millions

  • During the great pandemic, Griffin funded the State Department's rescue of 800 U.S. citizens from Wuhan. He even donated $45 million to community initiatives in cities like Chicago and Miami.
  • Griffin had also spent around $1.3 billion on philanthropic causes.
  • In early February, Citadel spend $7.5 million on organizations in China to help victims to withstand the deadly virus, including Hubei Xinhua Hospital in the Chinese city of Wuhan as well as the Hubei Charity Federation and China Charity Federation.

Reference

https://www.bbva.ch/en/news/ken-griffins-biography-what-is-his-investment-style/

https://www.forbes.com/profile/ken-griffin/?sh=8c5bd9650797

https://www.cnbc.com/2020/03/06/photos-how-citadel-billionaire-ken-griffin-spends-his-fortune.html

Read full story in "NewsBreak" App

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.

Comments / 14

Published by

Always seeking the truth, I write interesting articles based on science and history

N/A
3K followers

More from Akhil Aravind

Opinion: Biggest Threat to American Democracy and How to Combat It

Political apathy poses a significant threat to American democracy, as voter turnout in the country is lower compared to other developed nations. The United States ranks 26th out of 32 developed countries in voter turnout. Young people are the most politically apathetic and are the least likely to vote. Additionally, the media exacerbates the situation, with social media being the primary source of news for most people, leading to a lack of awareness of current events.

Read full story
163 comments

Woman joins dating apps to get back at cheating husband, writes to trained counselor

A woman sought help from a trained counselor after she learned of her husband’s affair and got addicted to dating apps. The unnamed woman wrote that finding out about her husband’s affair tore her apart, and she joined dating apps with the intention of hurting him back. But she has become addicted to the apps and the attention she gets from other men.

Read full story

Parents favored their son over their three daughters

*This is a work of nonfiction based on actual events I experienced firsthand; used with permission.*. In my culture, sons are responsible for caring for their parents financially and physically once they can’t earn or carry out day-to-day activities themselves. For example, the son and his wife are to cook, clean, and buy things for his aging parents.

Read full story
82 comments
Wyoming State

Liz Cheney not ruling out the possibility of a 2024 presidential run

Liz Cheney has hinted at the possibility of a 2024 presidential run on Sunday. The Wyoming Republican emerged as one of the most vocal critics of former President Donald Trump following last year's attack on the U.S. Capitol. She is also a part of the committee investigating the attack that took place on 6th January.

Read full story
239 comments

Do Aircraft really drop poop from sky?

Airplanes were always a wonder to our ancestors. But now, it has become an easily accessible dream for almost all people. However, the airline plumbing systems and toilets are still a mystery for many, including those who have and haven't traveled on a flight.

Read full story
276 comments

More than 64% of the adverse side effects of Covid-19 vaccines are because of the ‘nocebo effect’

According to a recent study conducted by scientists from the US and Germany, more than 60 percent of the Covid-19 vaccine’s side effects are due to the Nocebo Effect. Nocebo is simply the opposite of Placebo.

Read full story
830 comments

Internet went crazy over Yogi, an adorable dog with a 'human-like face'

Meet Yogi, a Shih-Poo (mix of Shih Tzu and Poodle), who happens to have a face very similar to that of a human. Yogi has human-like wide eyes and an expression that sent the internet crazy in 2018. His picture became a sensation and topic of discussion after it was posted on Social Media.

Read full story
262 comments

Chickens are twice as large today as they were in the 1950s

It’s no secret that chickens today are almost twice as big compared to those decades before. The average weight of chickens was only 3.07 pounds in 1955. The figure rose to 6.46 pounds in 2021, according to the National Chicken Council.

Read full story
48 comments

Meet the mysterious ‘Two-faced cat’ which was a sensation across Internet

Some of you may have heard of the two-faced cat, which made a surge all over the internet in 2012. Venus is a two-faced American tortoiseshell cat. She was born on 6th July 2009 with interesting and mysterious fur - which was black on one side and orange on the other. One half of Venus is solid black with a green eye and the other half has orange tabby stripes with a blue eye.

Read full story
112 comments

'Mega iceberg' in Antarctica - One of the largest on record, released 150 billions of fresh water.

Megaberg, the sixth-largest iceberg on record, gave150 billion tons of freshwater every day at its height of melting. It broke off from the Larsen C Ice Shelf in Antarctica in July 2017 and measured 6,000 square kilometers then. It eventually disappeared in early 2021 near South Georgia, after floating for 3.5 years. The iceberg is said to have traveled around 4000 km in its complete lifetime.

Read full story
67 comments

Chinese military aircrafts entered Taiwan's air defense zone Hours after Russia’s attack on Ukraine

This is not the picture of Chinese aircraft;Photo by UX Gun on Unsplash. China’s military aircraft entered Taiwan during the crisis in Ukraine. Taiwan’s Ministry of defense reported that around nine aircrafts had entered their air identification zone just hours after Russia ordered a military operation in Ukraine.

Read full story

Terminator: Strict veganism for the past 5 years led to the loss of bad cholesterol, which shocked his doctor

People still remember their favorite character, Terminator, from the film series "The Terminator." It was performed by none other than Arnold Schwarzenegger, an Austrian-American actor, former bodybuilder, film producer, and politician. He served as the 38th Governor of California. He is also the role model for thousands of bodybuilders around the world.

Read full story
51 comments

All for money: A man married and cheated on 27 women

This is not the picture of SwainPhoto by Tima Miroshnichenko from Pexels. On 13th February, a 66-year-old man, Bibhu Prakash Swain, was traveling in his car through Bhubaneswar (a city in India). Unexpectedly, a special squad of Odisha police surrounded him.

Read full story
1 comments
California State

Dog reunites with its owner after 12 years in California

A dog who was missing for 12 years has reunited with its master in California. Zoey had been missing since 2010, and the microchip company had already listed her as deceased in their data.

Read full story
Vancouver, WA

The bizarre case of Maureen Kelly, the hiker who disappeared in Southern Washington

On June 9, 2013, Maureen Leianuhea Kelly went camping with friends in the Gifford Pinchot National Forest and never returned home. She was known by the name ‘Anu’ among her friends.

Read full story
10 comments

233,000 years! Humanity is much older than assumed

Many of you have heard about Omo fossils, which are believed to be the oldest modern human remains. Earlier it was thought to be 195,000 years old, but the latest research published on Nature revealed that Omo is actually 233,000 years old.

Read full story
214 comments

An Indian man claims he got 12 Covid-19 vaccination shots and experiences lesser backache

According to multiple reports, a man in India received 12 coronavirus vaccinations and believes it helped with other health issues like back pain. Brahmdeo Mandal is an 85-year-old retired postmaster from Bihar, a state in eastern India. He says he received nine of the vaccine shots using his national identity card and the rest with his wife’s phone number and voting card.

Read full story
176 comments
Shelby, NC

22 years ago, a 9-year old girl vanished on Valentine’s Day and never came home.

Asha Jaquilla Degree, a nine-year-old, went missing from Shelby, North Carolina, on 14th February 2000. She is the daughter of Harold and Iquilla Degree. Asha was studying in fourth grade at the nearby Fallston Elementary school. She and her brother, O'Bryant, were in their Aunt’s house on February 11 since Cleveland schools were closed and the Degree’s had to work. From there, the children went to the basketball practice in the school.

Read full story
9 comments

The inspiring story of a woman with 4 legs

Josephine Myrtle Corbin was born with an extremely rare medical condition in 1868 - dipygus. She had two separate pelvises that separated at the waist. Dipygus is a severe congenital disease where the body parts into two (left and right) along the torso with the duplicate pelvis and limbs. The occurrence of this disease is so infrequent that only 14 cases had been reported worldwide as of 2006.

Read full story
93 comments

Comments / 0

Community Policy