Latest news with #KenGriffin
Nikkei Asia
11-07-2025
- Business
- Nikkei Asia
Ken Griffin's Citadel navigates Trump turbulence with unorthodox methods
Citadel founder Ken Griffin has built one of the most profitable hedge funds in history. (Citadel) YASUHA MINAMI and YUTA SAITO TOKYO/NEW YORK -- Ken Griffin, a prominent U.S. investor, is building a financial empire of a different shape. Not only has his hedge fund, Citadel, outperformed competitors in terms of revenues, he has also created Citadel Securities, a trading platform that looks to expand in Asia, especially China. Nikkei takes a closer look at this financial hegemon. Griffin, who runs a $66 billion hedge fund, was able to navigate markets that turned turbulent in April after U.S. President Donald Trump announced "reciprocal" tariffs on dozens of countries. Citadel's flagship fund, Wellington, saw its performance suddenly turn positive after being negative in January to March.
Times
10-07-2025
- Entertainment
- Times
Fate of fossilised dinosaurs in hands of super-rich as market booms
Money, the old adage goes, can't buy you happiness — but it can buy you a 150 million-year-old fossilised dinosaur. Sotheby's, one of the world's largest brokers of fine and decorative art, is auctioning off a rare ceratosaurus skeleton, the only known juvenile specimen. Priced between $4 million and $6 million, after July 16 it could be in the hands of a private collector. The super-rich are splashing cash on dinosaur bones, but palaeontologists are divided over the booming market. Last year, Ken Griffin, an American hedge fund manager, paid $44.6 million for a 150 million-year-old stegosaurus that was known as 'Apex'. It is the most that has ever been paid for a fossil, and it is now on loan to the American Museum of Natural History in New York. Others end up in the hands of celebrities. Nicolas Cage paid $276,000 for a skull of a Tyrannosaurus rex cousin, outbidding Leonardo DiCaprio, before returning it to the Mongolian government after learning it was stolen. Russell Crowe meanwhile was drinking 'a bunch of vodka' with DiCaprio when he offered $35,000 for the Titanic star's mosasaur skull to appease his dinosaur mad kids. This childlike fascination betrays a more serious business. Jethro Sverdloff, director of the Art Ancient gallery in London, said: 'This is still an immature market and there are best-in-class fossils available at reasonable prices, but also serious pitfalls for the uninformed. People cross into a totally different category [from fine art] and assume the normal rules don't apply. They still need to check for condition, provenance and quality.' Private ownership isn't necessarily bad, Sverdloff said, adding: 'The private market has long helped preserve and promote important cultural objects and the same is true for fossils. In many cases, it's private funding that allows excavation and conservation of specimens that might otherwise erode or be lost entirely.' He said that blockbuster films like Jurassic World Rebirth had pulled new buyers into the market, 'including people who didn't realise they could own something like this'. Generally, the more famous a dinosaur, the bigger the price tag. The ceratosaurus doesn't quite have the star power of a T. rex, but given that only three other such skeletons are known to exist, it has bags of scientific appeal. It is more valuable for being a juvenile skeleton too. Fossilisation requires that flesh and limbs remain intact before the very long process of mineral permeation. Yet young dinosaurs had fragile bones and they were tender, meaning they were eaten quickly. The Sotheby's fossil was found on privately-owned land in Albany County, Wyoming, in the world-famous Bone Cabin Quarry — one of the richest sources of dinosaur bones in the US. Ceratosaurus are 'interesting carnivores that are not well known and somewhat of a mystery in paleobiology', the Sotheby's page reads, 'making each discovery a significant event in the field of paleontology'. Yet this fossil, the only known one of its kind, could end up gathering dust in a private collection. Professor Paul Barrett of the Natural History Museum in London, told the Financial Times that palaeontologists are polarised on the issue. He said: 'At one end of the spectrum, there's the view that all fossils should belong to everybody and should be in museums for the privilege of scientists to work on. Others are more laissez faire and believe you can work with any private collector.' Auction houses, meanwhile, are cashing in. On November 16, 2024, French auction houses Collin du Bocage and Barbarossa sold the largest dinosaur ever offered publicly at auction. 'Vulcain', a 67-foot-long apatosaurus named for the Roman god of fire, sold for $6.3 million.
Business Insider
09-07-2025
- Business
- Business Insider
Florida made it much harder for highly paid workers to swap jobs, thanks to Ken Griffin
Florida enacted a law allowing non-competes of up to four years. The law targets high earners with access to confidential company information. Citadel was among the companies that lobbied for the law. One of the most employer-friendly policies in the US has become law. Florida enacted legislation that allows companies to enforce non-compete agreements for up to four years, up from the current two. The new law is a big win for Citadel's CEO Ken Griffin, who advocated for it. With the new arrangement, employees leaving a company would be relieved of their job responsibilities but severely restricted from working elsewhere. They would keep their pay and benefits but would not be entitled to bonuses, which can make up a large chunk of pay in finance and management positions. The rule applies to workers earning at least twice the average local wage in Florida, which is about $140,000 in urban areas, plus those who have access to confidential employer information. Lobbyists for the law said that it would protect trade secrets and invite high-paying companies to Florida. Since the pandemic, finance and other companies have flocked to Florida, moving headquarters or expanding offices in cities like Miami. "Florida is poised to become one of the finance capitals of the world," said Sen. Tom Leek, who was among the bill's sponsors, in a legislative meeting. "If we want to attract those kinds of clean, high-paying jobs, you have to provide those businesses protection on the investment that they're making and their employees." Last year, the Federal Trade Commission issued a rule banning most non-compete clauses in employment contracts, which was blocked by a federal court order. Please help BI improve our Business, Tech, and Innovation coverage by sharing a bit about your role — it will help us tailor content that matters most to people like you. Continue By providing this information, you agree that Business Insider may use this data to improve your site experience and for targeted advertising. By continuing you agree that you accept the Terms of Service and Privacy Policy . Miami is the 'future of America' Citadel's lobbyists contributed to shaping the bill's language. Griffin, the hedge fund's chief, has been bullish on the future of Florida and Miami. He said that this "Wall Street South" could one day overtake New York as America's financial hub. "Miami, I think, represents the future of America," he said in 2023, adding that Florida's pro-business political environment favors its growth. Citadel has extended non-compete agreements for some portfolio managers to 21 months, exceeding the industry practice of one year. The new law contrasts with the more worker-friendly policies that many states, including California, Oklahoma, Minnesota, and North Dakota, have been moving toward, including limitations and bans on non-competes. Before it became law, several think tanks urged Florida Gov. Ron DeSantis to veto the bill because it would hurt innovation, restrict workers, and hinder the growth of startups.
Business Insider
09-07-2025
- Business
- Business Insider
Florida made it much harder for highly-paid workers to swap jobs, thanks to Ken Griffin
Florida enacted a law allowing non-competes of up to four years. The law targets high earners with access to confidential company information. Citadel was among the companies that lobbied for the law. One of the most employer-friendly policies in the US has become law. Florida enacted legislation that allows companies to enforce non-compete agreements for up to four years, up from the current two. The new law is a big win for Citadel's CEO Ken Griffin, who advocated for it. With the new arrangement, employees leaving a company would be relieved of their job responsibilities but severely restricted from working elsewhere. They would keep their pay and benefits but would not be entitled to bonuses, which can make up a large chunk of pay in finance and management positions. The rule applies to workers earning at least twice the average local wage in Florida, which is about $140,000 in urban areas, plus those who have access to confidential employer information. Lobbyists for the law said that it would protect trade secrets and invite high-paying companies to Florida. Since the pandemic, finance and other companies have flocked to Florida, moving headquarters or expanding offices in cities like Miami. "Florida is poised to become one of the finance capitals of the world," said Sen. Tom Leek, who was among the bill's sponsors, in a legislative meeting. "If we want to attract those kinds of clean, high-paying jobs, you have to provide those businesses protection on the investment that they're making and their employees." Last year, the Federal Trade Commission issued a rule banning most non-compete clauses in employment contracts, which was blocked by a federal court order. Please help BI improve our Business, Tech, and Innovation coverage by sharing a bit about your role — it will help us tailor content that matters most to people like you. Continue By providing this information, you agree that Business Insider may use this data to improve your site experience and for targeted advertising. By continuing you agree that you accept the Terms of Service and Privacy Policy . Miami is the 'future of America' Citadel's lobbyists contributed to shaping the bill's language. Griffin, the hedge fund's chief, has been bullish on the future of Florida and Miami. He said that this "Wall Street South" could one day overtake New York as America's financial hub. "Miami, I think, represents the future of America," he said in 2023, adding that Florida's pro-business political environment favors its growth. Citadel has extended non-compete agreements for some portfolio managers to 21 months, exceeding the industry practice of one year. The new law contrasts with the more worker-friendly policies that many states, including California, Oklahoma, Minnesota, and North Dakota, have been moving toward, including limitations and bans on non-competes. Before it became law, several think tanks urged Florida Gov. Ron DeSantis to veto the bill because it would hurt innovation, restrict workers, and hinder the growth of startups.
Economic Times
08-07-2025
- Business
- Economic Times
Billionaires ditch Nvidia for this AI stock that's soared 2,000% since 2023
Nvidia has seen massive growth due to the AI boom. However, some hedge fund managers are shifting focus to Palantir Technologies. Like Ken Griffin and Israel Englander, they have reduced their Nvidia holdings while increasing their Palantir stakes recently. Palantir's AI tools are gaining traction, with revenue and customer acquisition growing. Tired of too many ads? Remove Ads Hedge Fund Giants Make a Surprise AI Pivot Tired of too many ads? Remove Ads Nvidia's Growth Continues, But Challenges Loom Palantir's AI Tools Gain Traction Tired of too many ads? Remove Ads FAQs Nvidia has been among the largest beneficiaries of the artificial intelligence (AI) boom triggered by the introduction of ChatGPT late in 2022, with stock price soaring 715%, and its earnings per share rising 1,690% in the last 12 months, as per a report. But some of Wall Street's most influential hedge fund managers are turning their sights on a different AI stock that's recorded a 2,000% gain since January 2023 and that company is Palantir Technologies, as per a report by The Motley to the report, Citadel Advisors' billionaire Ken Griffin disposed of 1.5 million shares of Nvidia, slashing his stake by half. He was meanwhile building up his position in Palantir by 204%, adding 902,400 shares, as per The Motley Fool Israel Englander of Millennium Management also cut his stake in Nvidia by 7% and increased his stake in Palantir by 302% as he bought 986,400 shares in the firm, according to the transactions have led to a rising perception among top investors that Palantir might have even more upside in the artificial intelligence domain than Nvidia, as per The Motley Fool READ: Trump blasted for embarrassing typo in tariff letter — misgenders foreign leader Nvidia keeps posting solid performances, with revenue growing 69% from year earlier to $44 billion in the latest quarter, fuelled by record demand for AI chips, according to the report. Non-GAAP net income rose 33% to $0.81 per share, as per the report. CEO Jensen Huang attributed growth to "incredibly strong" demand for AI infrastructure, reported The Motley some investors became nervous earlier this year after a Chinese AI firm, DeepSeek, had reportedly trained a sophisticated language model on low-cost and less capable chips than those of Nvidia's top chips, as per the report. This may have been taken by some as a warning sign, but some think it might actually give Nvidia's business a boost by making AI affordable for more companies, according to The Motley is still a clear leader in both generative and physical AI, the latter driving applications such as autonomous vehicles and robotics, as per the Motley Fool reported that Wall Street has projected that Nvidia's earnings will rise at 28% annually over the next three to five READ: Trump's tariff bombshell sends copper prices through the roof, sends markets into frenzy — what's next? Palantir is growing fast as during the first quarter, the company saw revenue grow 39% to $884 million and non-GAAP earnings by 62% to $0.13 per diluted share, as reported by The Motley Fool. Customer acquisition also grew 39% in total clients and 124% in spending from repeat customers, according to the management also increased its full-year guidance and sales are now project to jump 36% in 2025, as per the firm designs analytics software for the commercial and government sectors and its core platforms, Gotham and Foundry, let customers integrate and query complex information with analytical applications and machine learning models, as reported by The Motley Research has recognised Palantir as a leader in artificial intelligence and machine learning platforms, awarding its AIP product higher scores than similar tools from Alphabet's Google and Microsoft, according to the READ: VantageScore 4.0 just got a major boost - what it means for your credit and loans Some hedge fund managers believe Palantir may now offer more growth potential in the AI space and are reallocating funds has jumped 2,000% since January 2023, making it one of the best-performing AI stocks.
