Ken Griffin Needs Help, Another $75 Million House To Cope With This World Gone Crazy
You know, kids, Ken Griffin really just doesn’t get this crazy world.
“I never thought we’d let our ownership stakes be dictated by a poll on Twitter,” the hedge fund manager said Wednesday at the New York Times DealBook conference. “We live in a whole different world.”
And while the Citadel chief may shake his head a bit about Elon Musk’s antics, he has to say he understands where the guy is coming from vis-à-vis wanting to get the hell out of a high-tax state and into a low-tax, poorly-governed one (although not the bit about owning no houses, as Griffin’s plan to acquire the entirety of Miami’s Star Island continues expensively apace).
Griffin, for his part, said he likes to see companies controlled by their founders, and that he doesn’t want tax policy to drive “great entrepreneurs” like Musk out of their roles.
Anyway, in order to truly prepare for this bizarro world, Ken needs some help, and also $1.15 billion, which he’s happy to accept from an anti-dollar jihadist if that’s what it takes.
Venture-capital firm Sequoia Capital and cryptocurrency investor Paradigm have agreed to invest $1.15 billion in the Chicago-based firm, the company told The Wall Street Journal. Sequoia partner Alfred Lin will also join Citadel Securities’ board…. The deal will give Citadel Securities capital to continue expanding globally, the company said, and could be a precursor to an initial public offering for the business.
Citadel Securities to Receive First Outside Investment [WSJ]
Who’s the Chicago billionaire behind the record $75 million Star Island home buy? [Miami Herald]
Griffin Calls Musk’s Tesla Poll a ‘Whole Different World’ [Bloomberg]
