Kenneth C. Griffin: More Info

Wealth

After nearly twenty years of work, Kenneth C. Griffin has appeared numerous times in the Forbes 400. In 2008, his wealth was estimated at $3.7 billion. By 2010, Forbes estimated that his wealth had fallen to $2 billion, making him the 488th richest person in the world.

His 2005 compensation of $210 million was ranked 13th among the top 25 highest paid hedge fund managers. Reflecting the strong investment performance of his group, Griffin is reported to have taken home $1.7bn in 2006 and $2.8bn in 2007, of which salary was estimated to reach about $1.5 billion in 2007. In addition, he lives in a $6.9 million penthouse in Chicago.

Art Collection

Apart from the business world, Kenneth Griffin has devoted his time to collection and patronage of the arts. In October 2006, Griffin bought “False Start” by artist Jasper Johns for $80 million from David Geffen, the co-founder of Dreamworks. In the same month he also contributed $19 million to the Art Institute of Chicago. A painting by Cézanne and a bronze sculpture by Edgar Degas, which Griffin owns, are on display at the Institute.

In 2004, Kenneth and Anne Griffin were listed by Art News in the magazine’s ranking of the ten most active art collectors in the world.

Philanthropy

Griffin is a member of several philanthropic boards, including some Chicago organizations. As a director of the Chicago Public Education Fund, he has declared, “The long term success of our country depends on the success of our public schools.” In 2003, Griffin received the ARK award for his philanthropy. In October 2006, the Griffins together with the Bill and Melinda Gates Foundation founded a new charter school in Chicago named the Woodlawn High School. Griffin’s charitable foundation, the Citadel Group Foundation, has contributed to public education, the Children’s Memorial Hospital in Chicago and the Chicago Symphony Orchestra. Griffin has also contributed to the Robin Hood Foundation and has been active on the committee for the Wall Street Poker Night Tournament, a philanthropic event.

In 2004, Griffin married Anne Dias-Griffin. Dias is the founder of Aragon Global Management, another Chicago-based hedge fund firm. Together, they have one son.

Griffin’s perspective on regulation and risk played out in a 2008 New York Times article where he was quoted as saying, “’The unwillingness of the Federal Reserve and the S.E.C. to require working capital limits, only exacerbates the risk-taking environment, because the banks are playing the equivalent of no-limit poker”.

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