Citadel CEO Ken Griffin says Miami might finally unseat New York as the monetary capital of the world, Bloomberg reports.
The billionaire is constructing a $1 billion Miami waterfront advanced that can turn into Citadel’s headquarters and is planning a mansion in Palm Beach for himself, additionally rumored to be within the ballpark of $1 billion. The colossal property shall be only a quarter of a mile from former President Donald Trump’s Mar-a-Lago membership. On prime of this, Griffin has been busy making beneficiant political and philanthropic donations in Florida.
“We’ll see how big Wall Street South becomes,” Griffin stated on the Citadel Securities Global Macro Conference in Miami Tuesday. “We’re on Brickell Bay, and perhaps in 50 years, will probably be ‘Brickell Bay North,’ how we discuss with New York in finance.
“Miami, I think, represents the future of America,” he added.
While Griffin is digging in his heels within the sunshine state and has praised its business-friendly political setting and taxes, he’s concurrently investing closely in New York, planning to finish a 51-story workplace tower at 350 Park Avenue in Manhattan by 2032.
Griffin, value $35.4 billion in line with the Bloomberg Billionaires Index, additionally heaps excessive reward on New York and its “incredibly vibrant economy.”
“The density of talent both in financial services and writ-large in New York City is amongst the top of the world,” Griffin stated. “It is really is the epicenter of thoughtful people passionately engaged in their careers.”
Griffin moved Citadel’s headquarters from crime-ridden Chicago final June.
Like Citadel, 160 Wall Street corporations have moved out of New York lately, with 56 of them settling in Florida. It is estimated these corporations took with them $1 trillion in belongings underneath administration from The Big Apple.