The wealthiest billionaire in Chicago is leaving the Democratic-controlled state of Illinois.
Ken Griffin, a hedge fund millionaire, is relocating his company to Florida.
Griffin, whose net worth is about $29 billion, informed his staff in a letter on Thursday that he had relocated from Illinois to Florida, a state dominated by the Republican Party.
Griffin stated that Florida would become Citadel Securities’ new principal location. The investor praised the business climate in Florida.
While he did not mention criminality in his message to staff, Citadel officials indicated that it had a role in the decision.
Griffin has questioned Chicago’s high violent crime rate in an interview with the Wall Street Journal.
“If people aren’t safe here, they’re not going to live here,” he said of the state of affairs.
“I’ve had multiple colleagues mugged at gunpoint. I’ve had a colleague stabbed on the way to work. Countless issues of burglary. I mean, that’s a really difficult backdrop with which to draw talent to your city from.”
Griffin’s relocation will have a severe effect on the economies of Chicago and Illinois.
More on this story via The Western Journal:
The billionaire was the single wealthiest resident of Illinois. He had donated hundreds of millions of dollars to local charities while living there, according to spokesman Zia Ahmed.
Crime in Chicago has continued to escalate after the coronavirus epidemic.
The city’s overall crime rate increased by 36 percent in 2021, even though homicides and some violent crimes slightly declined, according to the Hill. Read more…