Billionaire Ken Griffin Moved From CHI To FL For "Traditional Values." He Lost $10 Mil On CHI House

Photo byFacebook Screenshot, Chicago Tribune

Many Floridians are aware that many billionaires call the Sunshine State home. Examples are Stephen Ross, John Paulson, and Larry Ellison. Another example that is perhaps better known is Ken Griffin. He's been a bit outspoken about what brought him to Florida and I've written about some of his donations to Florida institutions. Griffin has recently made news again - for taking some losses on his Chicago penthouse.

About Ken Griffin's Move From Chicago To Florida: Griffin is the founder of the hedge fund Citadel. His net worth is approximately $41.8 billion, per Bloomberg.

Citadel's headquarters were in Chicago until November of 2022 when Griffin decided to relocate Citadel to the Miami area. Although many individuals and businesses move to Florida in part for the tax benefits, Griffin has spoken about "traditional values."

He has said, in part:

"...There’s something very special about the government in Florida and their focus on delivering traditional values for the community..."

Citadel appears to be thriving in Florida. In the summer of 2024, I wrote about Citadel's flagship fund reaching $14.51 billion as well as the company building a new compound in the Miami area.

The Chicago Penthouse Loss: Griffin reportedly recently sold his Chicago penthouse for $10 million less than he paid for it. The property is 7,500 square feet, has six bedrooms, and is close in proximity to Lake Michigan.

According to a spokesperson, Griffin's real estate investments in Florida make up for the loss. Griffin is reportedly building a 50,000-square-foot Palm Beach mansion that could be worth as much as $1 billion when complete, according to the Robb Report.