Ken Griffin is betting big on Miami
Alexander Tamargo
- Billionaire Ken Griffin is doubling down on Miami.
- The Citadel boss is expanding its new office in the city's financial district, CoStar News reported.
- Griffin has pumped millions of dollars into Florida since moving his company from Chicago in 2022.
Ken Griffin is in a Florida state of mind.
The billionaire boss of Citadel is adding two more floors to the firm's planned office at a new 55-story tower in Miami, according to a report in CoStar News.
The new Citadel office at 830 Brickell in the middle of Miami's financial district will now feature eight floors, CoStar reported.
The new tower (designed by the firm Adrian Smith + Gordon Gill Architecture Dubai) will feature panoramic views of Miami, a luxury rooftop restaurant, and a fitness center, according to developers OKO Group.
CoStar News reported that the tower's rent is upwards of $100 per square foot.
Citadel didn't immediately respond to a request for comment from Business Insider.
Griffin had stunned the financial world in 2022 when he announced he was moving Citadel from Chicago to Florida. He blamed Chicago's crime rate at the time for the mega-firm's shift.
Last November, Griffin declared that Miami could one day overtake New York as the premier financial hub in the United States.
"Miami, I think, represents the future of America," he said, praising the state's pro-business stances. Florida taxes are much lower than those in New York City or Chicago.
Earlier this year, Citadel employees told BI that the city's ample sunshine and less stressful vibe made Miami a welcome change of pace.
Since moving the firm, Griffin has pumped millions into South Florida through donations to local programs.
Last September, he announced Griffin Catalyst, a Miami-based civic engagement organization building on his prior philanthropic work. The group focuses on topics like charter school expansion, free speech initiatives, science 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 to cancer research for the Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine and $9 million for the area's public schools to expand tutoring programs.
In total, he's donated nearly $150 million to South Florida initiatives, according to the Miami Herald.