Chicago is a dangerous city.
It’s also an extremely blue city in a very blue state, and that means preventing crime is not a huge priority for the mayor and Governor of Chicago and Illinois.
Ken Griffin is a billionaire and one of the 50 richest people in the world, but even with all that money, he does not feel safe for himself or his employees in Chicago any longer and is moving his hedge fund to Florida.
Griffin didn’t specifically use the words “ridiculously high crime rate” in the memo he wrote his employees describing the move. Still, those in the know say that is his primary motivator.
Griffin is worth almost $30 billion, and he’s used that wealth to try to get rid of impotent leadership in Illinois. He provided Republican gubernatorial candidate Richard Irvin with $25 million in campaign money. This is after he wrote a check for $20 million in seed money.
The logistics of moving his business to Florida are daunting. He has 2,600 employees who will be making a move south. Here’s a quote from Griffin in the memo to workers.
“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.”
His Citadel hedge fund is a $51 billion business. It will leave a mark on the economy in Chicago and Illinois, but Griffin told the Wall Street Journal that putting the Windy City in his rear view mirror was a no-brainer.
“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.”
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