Billionaire hedge fund boss Ken Griffin, citing a better corporate environment, is moving his firm Citadel to Florida.
Griffin, the wealthiest resident of Illinois and a top GOP donor, announced the move to Miami in a letter to Citadel staff on Thursday. He said that he has already moved to the Sunshine State and that the hedge fund will begin the process, which is expected to take years, of relocating as well.
Citadel has about 1,000 employees in the Windy City, many of whom will likely remain in Chicago despite the move.While he didn’t cite crime in the letter to employees, Griffin faulted Democratic Gov. J.B. Pritzker for violence in the city and donated some $50 million to one of Pritzker’s opponents. Citadel is the third major company to announce plans to move out of Illinois recently. This month, Caterpillar said it was relocating to Texas, and Boeing announced it was moving to Arlington, Virginia.
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