https://www.msn.com/en-us/mone...ime-rate/ar-AA1e4yjH

Chicago’s richest resident is moving to the Sunshine State, and he’s taking his money – and his company – with him.

Ken Griffin, a hedge fund manager worth almost $29 billion, has already moved himself and his family to Florida. And recently, he released a memo to employees that his $22 billion firm, Citadel Securities, would also move its headquarters there.

While the trend of companies moving from high-tax states like California, Illinois, and New York to lower-tax, business-friendly states like Texas and Florida is nothing new, one factor in the decision is potentially concerning for the future of Chicago’s business climate.

Crime a Factor in Citadel’s Move Out of Chicago
Citadel officials cited crime as one critical reason for the move. According to a report, over the last few years, there have been multiple incidents involving Citadel employees. Ken Griffin himself experienced an attempted carjacking, a Citadel employee was stabbed while walking to work, and there have been numerous reports of shootings, riots, and looting near some employees’ homes.

Ken Griffin has been outspoken about how crime has affected his employees. In a recent interview, he said, “if people aren’t safe here, they’re not going to live here. 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.”

Related: Ivanka Trump’s Net Worth Is Shocking, But How She Earned It Is Even More Surprising

Billionaire’s Move Will Cause Significant Financial Hardship
According to one report, Citadel has around 1,000 employees in and around Chicago, and Griffin’s company has accounted for billions of tax dollars to the local and state economy. Griffin has personally given more than $600 million to Chicago-based political and charitable organizations.

Citadel’s announcement is another blow to Illinois, which has recently lost three major corporate headquarters. Boeing is moving its operations to Virginia, Caterpillar moved its headquarters to Texas, and Citadel is now heading to Miami, Florida.

Read the Full Memo to Staff From Ken Griffin
“I am excited to share with you that Citadel is moving its global headquarters to Miami. Miami is a vibrant, growing metropolis that embodies the American Dream – embracing the possibilities of what can be achieved by a community working to build a future together. I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy.

Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois. Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world. With our new office opening at 425 Park Avenue, our expansion at 350 Park Avenue and our new headquarters opening on Brickell Bay, in the heart of Miami’s booming financial district, we are in a strong position to support these transitions. We recognize that the choice of where to call home involves personal, family, school and other considerations, and we will provide comprehensive support to meet the needs of our teams.

Chicago has been a remarkable home for Citadel. I still remember the incredible civic pride and engagement when I arrived more than thirty years ago – and the outreach by business and political leaders who wanted us to succeed and be a part of the fabric of Chicago’s community. That ethos served us well in building our firm – and I am proud of all that we have contributed to Chicago over the past three decades. I hope we continue to make such a meaningful impact in all the cities around the world that we call home.”

Ken Griffin Is a member of the Republican Party and a sizable donor. Chicagos loss will surely be Florida’s gain.

Illinois… will the last productive person to flee be sure to turn out the lights?

Great job Democrats

And you idiots will never own up to it either. You’ll just cry and scream about how racist he is to leave or some other stupid shit.

Yet another stake in the heart of this dismal policy failure.

Seems like they are hell bent on destroying this country one city at a time.

Another cut into Chicago flesh...and a deep one.

quote:

According to one report, Citadel has around 1,000 employees in and around Chicago,

Not to criticize the guy, in fact I applaud him, but did a thousand people just lose their jobs? Or are those jobs the sort that allow telecommuting?

quote:

Originally posted by Expert308:

quote:

According to one report, Citadel has around 1,000 employees in and around Chicago,

Not to criticize the guy, in fact I applaud him, but did a thousand people just lose their jobs? Or are those jobs the sort that allow telecommuting?

The real blow to shitcago is the lost tax revenue and possibly philanthropic monies, even if it’s from the “other team”.

Even if they do allow work from home, I suspect a significant number of employees to relocate to Miami if invited. Who wouldn’t?

Crime kills cities, it's that simple.

Let's be honest here, no one likes a commute to work. It's a lot less fun if that commute is painful

Absolutely no one wants to work in an area where it is highly likely they'll be robbed, stabbed, shot, etc., simply going to and from work.

quote:

Billionaire’s Move Will Cause Significant Financial Hardship
According to one report, Citadel has around 1,000 employees in and around Chicago, and Griffin’s company has accounted for billions of tax dollars to the local and state economy. Griffin has personally given more than $600 million to Chicago-based political and charitable organizations.

No pain No gain Chicago.
Get the message Chitown - you can't live just on great pizza and hotdogs forever.
Suffer or pay the consequences of your actions.

Genius


"SPRINGFIELD, Ill. — The Illinois Supreme Court cleared the way Tuesday for the state to become the first in the nation to eliminate cash bail, siding against prosecutors and sheriffs in the Metro East and statewide who challenged the move that will transform the state’s criminal justice system."


https://www.stltoday.com/news/...0cleared,the%20state's%20criminal%20justice%20system.

quote:

Originally posted by Sig2340:
Illinois… will the last productive person to flee be sure to turn out the lights?

Not saying all of them have already left, but I think the lights have been out for a while now.

This will have absolutely no effect on how the Illinois Democratic party makes its strategy decisions. The facts, while interesting, are irrelevant. They'll stick to the narrative and blame it on Trump/patriarchy/ climate change.... whatever.

^^^ Maybe, but let's take this win, shall we?

Ken Griffin and Citadel have been gone since Jan.

Pretty nice guy, and down to earth. One of my old team mates does Personal Protection for him.

Oddly enough, my guy retired and moved to Florida in Jan as well...

We (Chicago) has lost a few other MAJOR Companies as well. Boeing left, Caterpillar left, Tyson Foods left, Guggenheim Partners left, TTX (Railway company) is in the process of leaving, Chicago Mercantile Exchange is looking at leaving, Mc Donalds is looking too.

What's the word I'm looking for?
Oh, "BLEAK"!

quote:

Originally posted by Expert308:

Not to criticize the guy, in fact I applaud him, but did a thousand people just lose their jobs? Or are those jobs the sort that allow telecommuting?

Quoted from the Original Post in this thread:

"Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois. Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world. With our new office opening at 425 Park Avenue, our expansion at 350 Park Avenue and our new headquarters opening on Brickell Bay, in the heart of Miami’s booming financial district, we are in a strong position to support these transitions. We recognize that the choice of where to call home involves personal, family, school and other considerations, and we will provide comprehensive support to meet the needs of our teams."

quote:

Originally posted by CPD SIG:

We (Chicago) has lost a few other MAJOR Companies as well. <snip> Mc Donalds is looking too.

Many years ago (more than forty) I worked for a company in Oak Brook. McDonald's HQ was the second building west of us on the same street. Oak Brook was a great place to live and to work at the time. Very little crime. One of my friends in the Chicago BMW Motorcycle club was a sargeant, Oak Brook PD, and these guys took no shit from nobody.

Has Oak Brook changed so much that McDonald's is thinking about leaving?

---

Edit, adding: Reaching way back in memory, I worked for the company (Applied Information Development) in Oak Brook from 1975 to 1983. Trying to remember the company address, I think it ws 321 Commerce Drive. There was one office building between us and McDonald's. The cafeteria in the McDonald's building served the standard McDonald's menu, plus additional stuff, including trial runs of items that were being considered for addition to the menu at McDonald's restaurants. In nice weather, we would sometimes walk over there for lunch. I was living in Woodridge (between Downers Grove and Naperville) at the time. A lot of water under the bridge since then.

This message has been edited. Last edited by: V-Tail,

Some would argue he's moving because of his own crimes; His home would be protected from seizure in Florida.

https://www.kengriffinlies.com/

I guess Abe Froman is #1 again in Chi town?

quote:

Originally posted by V-Tail:

quote:

Originally posted by Expert308:
Not to criticize the guy, in fact I applaud him, but did a thousand people just lose their jobs? Or are those jobs the sort that allow telecommuting?

Quoted from the Original Post in this thread:
"Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois. Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world. With our new office opening at 425 Park Avenue, our expansion at 350 Park Avenue and our new headquarters opening on Brickell Bay, in the heart of Miami’s booming financial district, we are in a strong position to support these transitions. We recognize that the choice of where to call home involves personal, family, school and other considerations, and we will provide comprehensive support to meet the needs of our teams."

Oops, guess I missed that paragraph. Thanks V-Tail.