Billionaire hedge fund supervisor Ken Griffin isn’t simply investing in shares, he’s additionally investing in politics — to the tune of $40 million within the upcoming midterm election cycle, in response to a report.
Griffin, who made extra money than some other hedge fund supervisor final yr — raking in $2 billion in 2021 alone — has additionally develop into the No. 1 donor to Republican causes, in response to the Wall Avenue Journal’s tabulations.
And Griffin, 53, is especially targeted on reining in crime and enhancing training.
“I’ve had a number of colleagues mugged at gunpoint. I’ve had a colleague stabbed on the way in which to work,” Griffin, who is predicated in Chicago, mentioned in an interview with the Wall Street Journal. “That’s a extremely troublesome backdrop with which to attract expertise to your metropolis.”
Whereas it takes security for a nation to flourish within the brief time period, it additionally takes a substantive training system to take care of a thriving nation, Griffin argues.
“Nothing is extra vital to the way forward for America than a sturdy nursery by way of highschool, after which a system of upper training,” Griffin provides. “An enormous a part of my shift in the direction of being extra concerned in politics has been watching federal and state insurance policies undermine entry to the American Dream.”
Griffin is fast to acknowledge not everybody shares his political viewpoints.
However he nonetheless encourages those that disagree with him to become involved and donate to causes they care about as effectively.
“Too a lot of America’s enterprise leaders keep out of politics as we speak,” Griffin mentioned “They must be engaged as a result of they perceive the ramification of coverage selections: I’m constructing a enterprise; I’m working a manufacturing facility; I’m creating jobs. They simply can’t proceed to be silent.”
Griffin, who’s price an estimated $30.5 billion, in response to Bloomberg Billionaires Index, has slowly ramped up his involvement — and his election spending — over the past decade.
In 2010, he gave below $1 million to political causes. In 2020, he gave greater than $67 million to political causes.
Whereas he’s donated broadly to points, he’s additionally curious about supporting particular person candidates.
He has given $5 million to a political motion committee related to Florida Gov. Ron DeSantis. He’s additionally donated $7.5 million to a PAC related to Pennsylvania Republican gubernatorial candidate David McCormick. McCormick left his CEO perch at posh hedge fund Bridgewater Associates to run in opposition to Dr. Mehmet Oz.
Griffin is much less smitten by one politician specifically: Donald Trump. Griffin has criticized Trump’s unsubstantiated claims that the 2020 election was rigged and provides it’s time to look to “the following era” of candidates for the 2024 election cycle.
And it’s not simply politics Griffin is spending massive cash on. Final yr Griffin determined to shell out $43.2 million final month for a uncommon copy of the US Structure on the urging of his son.
The doc, which is considered one of 13 authentic copies from 1787, was initially valued by Sotheby’s at $15 million to $20 million.
However Griffin mentioned he determined he’d spend no matter it took to get it.
“I informed myself, ‘I’m going to personal this,’” Griffin mentioned. “I don’t do that fairly often.”