Handelsblatt editor Frank Wiebe examines how fair things are on Wall Street.
(Photo: Getty Images/HB [M])
Frankfurt Wall Street has a new hero – or villain, depending on your point of view. His name is Ken Griffin, he resides in Miami and is the owner of the market maker Citadel Securities and the hedge fund firm Citadel.
The market maker executes orders on the stock exchange and also takes his own positions, the hedge fund speculates on rising or falling prices. Already this doubling under one roof is a special feature.
In the catastrophic stock market year of 2022, Citadel’s most important fund, Wellington, managed a plus of 38 percent, with the entire business unit generating revenues of $28 billion. Citadel Securities also hit a record $7.5 billion in revenue, according to Reuters.
Griffin invited around 10,000 employees to a three-day party at Disney World. He also plans to occupy around half of a planned mega high-rise on Park Avenue in Manhattan.
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