It Wasn’t Low Taxes That Led Citadel Billionaire Founder Ken Griffin to Move His Company from Chicago to Miami

Earlier this year, Ken Griffin moved the headquarters of Citadel from Chicago to Miami. However, the billionaire has gone ahead to say that the move was not informed by low taxes in Miami.

In a conversation with Francis Suarez, Miami’s Republican mayor, Ken Griffin noted that although he would get thrown out of here, taxes weren’t part of their decision to move from Chicago to Miami. He added that, when one has got great schools, a great environment, and the streets are safe and clean, that’s when one’s got a place they want to live in and call home.

According to Bloomberg index, Ken Griffin has an estimated net worth of about $29 billion. Since moving both his family and the global headquarters of citadel to Miami, this was his first public appearance

Ken Griffin also acknowledged that there was something special about the government in Florida and their ability to provide special focus on the community.

Politically, Ken Griffin has become one of the biggest donors in the Republican Party, donating a whooping $5 million to Republican Ron DeSantis for his reelection as governor, as a Democratic challenger is raising big bucks. Griffin has in the past stated to Bloomberg News that he would back DeSantis for the presidential ticket within the Republican Party.

Ken Griffin was first interested in politics while still in Chicago. This was the time that he openly disagreed with some law enforcement policies that he deemed that they would take the country back on years of progress. According to open secrets, the citadel investor and founder poured over $69 million into campaign funding during the 2021 and 2022 electioneering period

Griffin’s stay in Miami could have a long-lasting effect on the city. To begin with, he is building Citadel headquarters in the Brickell financial district, a tower estimated to cost the company around $1 billion. As one of the most philanthropic billionaires, Griffin is also involved in various charitable activities that are believed to positively impact the city.

Besides Griffin, there are other billionaire investors such as Dan Sundheim, Dan Och, and Josh Harris who have made Florida their home. This investor formed the Economic Club of Miami which is credited to hosting Monday’s event. Griffin joined the club after moving from Chicago to Miami.

Jon Hartley, chair of the club said that they were trying to capture the zeitgeist of the Miami moment. Other notable members of the Economic club Of Miami include Jeb Bush Jr, the son of the former governor Jeb Bush.