Having studied at Harvard where he obtained a degree in economics, Ken Griffin has been renowned for his hedge fund management initiatives. He formed the company called Citadel in 1990, and today, it has grown to be a ringleader in alternative investment. It is in Daytona Beach, Florida where he was born in 1968.
At college, he was not like other students. He had developed a keen interest in trading options something that gave him an opportunity to make a fortune at that young age. He spent a considerable amount of time in his dormitory room where he traded the stock options. His dedication to trading options on valuewalk.com saw him install a satellite dish so as to access the financial market data in real time. This is something that may have helped him to learn his trading strategy.
During the 1978 dipping of the stock market, it made him earn a lot of money. It is the same strategy that he used to trade options during the stock market downfall, which saw him create a lot of money from a convertible bond arbitrage fund he established when in his sophomore year.
And, in the final year of study, he had created a wealth of over $1 million right from the investors’ money he managed through the fund. He established a convertible bond arbitrage fund before the unexpected happened. In 1987, the stock market experienced a downfall, and this is when Griffin made some huge money from stock trades.
Averagely, this firm has an asset base value of $25 billion that he manages. The company has been renowned as a prospective alternative investment company. When Griffin left college after graduating with an economics degree, he was offered $1 million by another renowned financial investor Frank C. Meyer. He used these funds to trade options.
Meyer is the owner of a firm known as Glenwood Capital LLC and was impressed by the stunning performance of Griffin in trading stock options, something that inspired him to offer help of $1 million to Griffin to trade in that financial market.
Griffin has won many awards for his efforts in creating a working environment that promotes performance, productivity, and service delivery. He was recognized for creating an enabling working environment for his workers at Citadel. He nurtured a culture, which allowed the employees to improve their performance.
Griffin achieved such a milestone by offering perks, which include free lunches to employees, museum tours, personal gifts, and involvement in fitness programs. Griffin believes that to spearhead a team of workers to perform better, an investor needs to invest in them.
That’s why he gave the incentives to revamp the performance of his employees. Citadel has grown to a big company, and by 1998 it had an investment of more than $1 billion and a workforce of 100 employees. He gave Harvard a donation amounting to $150 million to help in supporting needy students attain their education goals. He has involved himself in many philanthropic causes and has contributed over $500 million towards different philanthropy works.