Billionaire Citadel owner Ken Griffin loses $3 billion as net worth drops to $30.5 billion

Kenneth Griffin, billionaire businessman and managing director of the Citadel Hedge fund with $43 billion in assets under management, has lost $3 billion since the start of April 2022.

As of April 5, he was worth $30.8 billion, but today his net worth is down to $30.5 billion.

The billionaire whose main asset is Citadel Securities has started the year well, earning more than $9.52 billion on the back of a 44.7% increase in share price since the start of the year.

What you need to know about the Citadel

  • Citadel was founded in 1990 by Ken Griffin as a multinational hedge fund and financial services company. The company, which is headquartered in Chicago, United States of America, has five main strategies. They include Fixed and Macro Income, Quantitative Strategies, Commodities, Equities and Credit, and has since established two other companies under his leadership.
  • The first Citadel company was created by founder Ken Griffin from his dorm at Harvard University while trading convertible bonds. As a sophomore, he traded convertible bonds and hung a satellite dish from the roof of his dorm. After graduating with a degree in economics, Griffin joined Chicago-based hedge fund Glenwood Partner and subsequently Citadel was launched with capital of $4.6 million and was originally called Wellington Financial Group after its flagship fund, but was later replaced by Citadel Investment and is now called. Citadel LLC to welcome its affiliates.
  • Today, it manages over $29 billion in capital and is one of the largest asset managers in the world. It ranks as the eleventh largest hedge fund manager in the world.
  • The second company, Citadel Securities, was established in 2001 and, as a market maker, provides liquidity and trade execution to retail and institutional clients. According to the Wall Street Journal, about a third of retail investors’ stock orders are filled through Citadel, which accounts for about 10% of the company’s revenue and the company is the world’s largest options market maker. United States.
  • The third company, Citadel Technologies, was established in 2009 as a wholly owned and independently operated subsidiary of Citadel, providing investment management technology, developed in-house at Citadel, to a wide range of businesses and of funds.

What can Kenneth Griffin’s net worth buy?

Griffin net worth is equivalent to;

  • 15.5 million ounces of gold
  • 273 million barrels of crude oil
  • 0.145% of US GDP
  • 0.394% of the total wealth of the 500 richest people in the world
  • 7.70% of the best university endowments in the United States
  • 451,089 times the median household income in the United States
  • 1.36% of existing home sales in the United States.
  • 482% of total top 200 U.S. executives received compensation

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