Two years ago, Ken Griffin and his wife, the former Anne Dias-Griffin, were divorced. At the time, he had $6.5 billion in the bank. Since cutting off the old ball-and-chain, Griffin’s been sowing his oats, but hasn’t gotten tied down once again. And boy oh boy, is it working.
With a net worth of $8.5 billion, an increase of $1 billion from last year, the founder of hedge fund Citadel defended his title as Illinois’ richest person on the 36th annual Forbes 400 ranking of the richest Americans, released Tuesday.
Impressive, but only half as good as Jim Simons, whose now $18.5 billion fortune increased by $2 billion in spite of increased cigarette taxes and the fact that he hasn’t worked for a living for almost a decade. (Fellow retiree and Long Islander Julian Robertson also did pretty well, making another $500 million he won’t pay one extra cent to New York City on.) Two Sigma co-founders John Overdeck and David Siegel also made more than Griffin, adding $1.6 billion apiece to their fortunes as investors throw good money after bad at quantitative hedge funds. And even before receiving a single residual for Principles, Ray Dalio’s $1.1 billion richer than last year.
On the other side of the ledger, John Paulson’s slow slide into penury continued with an $800 million drop to $7.8 billion. And Leon Cooperman’s family and overnight guests had better be ready to take on a few extra chores since he’s got $100 million less to throw around on extravagances like housekeeping. As for Eddie Lampert, we know he’s lost money. We know he’s lost a lot of money. We just don’t know how much money he’s lost, because he lost enough of it to get kicked out of the top 400, along with York Capital’s James Dinan and Moore Capital’s Louis Bacon.
Forbes 400 [Forbes]
Again Illinois’ richest person, Ken Griffin increases fortune by $1 billion [Chicago Tribune]