Citadel’s Ken Griffin Touts Florida As “Great Environment And Streets Are Safe And Clean”

Citadel’s Ken Griffin Touts Florida As “Great Environment And Streets Are Safe And Clean”

Before we dive into the latest comments of Citadel’s billionaire founder, Ken Griffin, praising Florida for all its beauty after he moved his firm from the hellhole of Chicago. We want to remind readers about the events that led to Griffin’s decision. 

In May, Griffin was becoming increasingly frustrated with the eruption in violent crime across Chicago and Mayor Lori Lightfoot’s inability to solve those issues. 

At the time, he said, “We’re getting to the point that if things don’t change, we’re gone. Things aren’t changing.” 

By June, Griffin sent a letter to Citadel employees that he had moved to Florida and that his market-making business, Citadel Securities, would also migrate to Miami. He noted in the letter that he views Florida as a better corporate environment, and though he didn’t specifically cite crime as a factor, company officials said it was a consideration.

Later that month, Bloomberg reported the new headquarters of Citadel would be at 1201 Brickell Bay Drive. The secret deal to obtain the property closed in April and was shielded from the public by a limited liability company with a Chicago mailing address.  

In mid-August, CNBC noted Griffin had already spent a billion dollars on Florida real estate. This includes the plot of land for the new headquarters building and a massive estate in Palm Beach. 

On Monday, Griffin, now Florida’s richest man, spoke with Francis Suarez, Miami’s Republican mayor, who said the real reason he moved his market-making operation and residence to South Florida wasn’t because of taxes but the positive atmosphere, according to Bloomberg

“It’s gonna get me thrown out of here, but taxes weren’t part of our decision to come to Florida.

“When you’ve got great schools, a great environment and your streets are safe and clean, that’s when you’ve got a place you want to live in and call home.

“There’s something very special about the government in Florida and their focus on delivering traditional values for the community,” he told Suarez in a conversation. 

Griffin is one of the most high-profile individuals to pack up his bags and head to a conservative-friendly state after living in a progressive-run city that had social justice reforms backfire and spark even more violent crime. 

The billionaire isn’t alone. Tens of thousands, if not hundreds of thousands, of everyday Americans have made the same decision to flee imploding liberal-run cities in the last few years because of high taxes and socio-economic collapses. Many have fled to more prosperous and safer conservative-run cities. 

Tyler Durden
Tue, 11/08/2022 – 20:25

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