Early Life
Kenneth Cordele Griffin was born in Daytona Beach, Florida, in 1968. His father was an executive in the building supplies industry and a project manager at General Electric. Griffin spent his childhood in Boca Raton, Florida, and also spent time in Texas and Wisconsin. He attended Boca Raton Community High School, where he was president of the math club. As a high school student, he ran a mail-order business selling educational software.
Rise to Success
Griffin's interest in finance began early. In 1986, while at Harvard University, he started investing with funds from his family and friends. He graduated from Harvard in 1989 with a degree in economics. In 1990, Griffin founded Citadel LLC with $4.6 million in assets under management, supported by contributions from Frank Meyer. His funds saw impressive growth, with returns of 43% in 1991 and 40% in 1992. Griffin also founded Citadel Securities in the early 2000s. By 2003, at age 34, he was the youngest person on the Forbes 400 list, with a net worth of $650 million.
Key Business Strategies
Citadel's success is attributed to a culture of continuous learning, problem-solving, and meritocracy. The firm focuses on identifying and capitalizing on market opportunities by using advanced quantitative analytics and powerful software. Citadel Securities has become one of the largest liquidity providers in the world. Griffin's early adoption of technology, such as installing a satellite dish to receive real-time market data, provided a competitive edge.
Philanthropy
Ken Griffin is a significant philanthropist, having donated over $2 billion to various causes. He has contributed substantially to education, economic mobility, and medical research. Griffin established Griffin Catalyst in September 2023, a platform for his philanthropic and civic work. Some of his notable donations include $300 million to Harvard University, a joint $400 million donation to Memorial Sloan Kettering Cancer Center, and $50 million to the Sylvester Comprehensive Cancer Center at the University of Miami.