- Billionaire Ken Griffin is doubling down on Miami.
- The head of Citadel is expanding his new office in the city’s financial district, CoStar News reported.
- He has pumped millions of dollars into Florida since moving his company there from Chicago in 2022.
Ken Griffin is in a Florida state of mind.
The billionaire head of Citadel is adding two more floors to the company’s planned office in a new 55-story tower in Miami, Bloomberg first reported.
Citadel’s new office at 830 Brickell, in the middle of Miami’s financial district, will now be eight stories high, Bloomberg reported.
A Citadel spokesperson confirmed the expansion to Business Insider.
The new tower, designed by Adrian Smith + Gordon Gill Architecture, will have panoramic views of Miami, a luxurious rooftop restaurant and a gym, according to developers Grupo OKO.
CoStar News reported that rent for the tower is more than $100 per square foot.
Griffin surprised the financial world in 2021 when he announced he was moving Citadel from Chicago to Florida. He blamed Chicago’s crime rate at the time for the mega-company’s move.
Griffin said in November that Miami could one day overtake New York as the United States’ top financial center.
“Miami, I believe, represents the future of America,” he said, praising the state’s pro-business stances. Taxes in Florida are much lower than those in New York or Chicago.
Earlier this year, Citadel officials told BI that the city’s ample sunshine and less stressful vibe made Miami a welcome change of pace.
Since moving the company, Griffin has pumped millions into South Florida through donations to local programs.
Last September, he announced Griffin Catalyst, a Miami civic engagement initiative based on his previous philanthropic work. Griffin Catalyst focuses on issues such as charter school expansion, free speech initiatives, scientific and medical research, and the promotion of the “American dream” and economic mobility.
Griffin has also donated to local hospitals and groups, including a $50 million donation for cancer research to the Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine and $9 million to area public schools to expand mentoring programs.
In total, the hedge fund manager has donated more than $300 million to causes in South Florida, the South Florida Business Journal reported.
