Griffin is the chief executive of Citadel, a hedge fund with $63 billion in assets under management. The Miami-based company has five core strategies in fixed income and macro, quantitative strategies, commodities, equities and credit. He also founded Citadel Securities, a global market-making business.
The bulk of Griffin's fortune is derived from the money he's made managing Citadel Advisors, the hedge fund firm he founded in 1990. It has about $63 billion in assets under management, according to a December 2023 Bloomberg story.
Griffin probably has about $9 billion in personal assets in Citadel funds. This is based on a 2022 Form ADV filing, ratings reports, his estimate of earnings in prior years, and discussions with a person familiar who didn't wish to be identified because the information is private.
His ownership of Citadel's hedge fund business is estimated at 85% based on ADV filings and ratings reports. It's valued using the enterprise value-to-EBITDA and enterprise value-to-sales multiples of publicly traded peers, based on financials included in an November 2022 Moody's credit opinion. A 10% liquidity discount is applied.
Griffin is credited with 80% of Citadel Securities, his market-making firm. A June 2019 S&P Global Ratings report stated that he held an overwhelming majority of the company. It's valued using the $22 billion valuation agreed to as part of a $1.15 billion investment from Sequoia Capital and Paradigm in January 2022. The figure was adjusted by 7.1% to account for its 2022 revenue growth. A 10% liquidity discount is applied.
Griffin's personal real estate includes trophy properties in Chicago, New York, The Hamptons, Palm Beach, Miami, Hawaii, Colorado and London. They're valued at their purchase prices as reported in Bloomberg News and the Wall Street Journal.
Griffin has liabilities of about $2 billion including mortgages, according to discussions with a person familiar with his financial situation who did not wish to be identified because the information is private.
A spokesperson for Griffin said the billionaire declined to comment on his net worth in March 2023.