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This is an old revision of this page, as edited by Amandaatcitadel (talk | contribs) at 17:49, 8 December 2021 (→‎Infobox, Career and Philanthropy section edit requests). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

What religion is Ken Griffin???

What religion is Ken Griffin??? — Preceding unsigned comment added by 2.98.153.59 (talk) 12:36, 3 September 2014 (UTC)[reply]

Updates/Net Worth

Hi editors, there's a noticeable error in the introductory section on this page. The infobox reads that Griffin's net worth is $5.5 billion, while the first paragraph states $5.3 billion. It looks like the infobox was updated more recently, so I will reflect this change in text. Looking over the mentions of net worth, there are multiple inconsistencies. Frankly, the section is unreadable in its current state and jumps around instead of working chronologically. I think this section should be reworked as it shows Griffin's net worth and compensation at random points and not consistently. I will address the above change and look for editor feedback on cleaning up the "Net worth" subsection. Thanks for reading. Rog-Brackey18 (talk) 12:37, 19 January 2015 (UTC)[reply]

I took the liberty of substantially rewriting the page. It reads a lot better now. If you have any issues with my work, or if you would like to collaborate to further improve the page, let me know! AbuRuud (talk) 23:48, 25 January 2015 (UTC)[reply]

Where is the reference to the time that Ken Griffin lied under oath? — Preceding unsigned comment added by 12.86.24.86 (talk) 18:55, 8 October 2021 (UTC)[reply]

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Philanthropy

Currently there is a significant section on art purchases under the Philanthropy section. I think this should be moved elsewhere, perhaps to Personal Life, as it is not philanthropic.

Additionally, the total philanthropic giving mentioned in this article is around 7% of his net worth, and largely went to institutions like Harvard and art museums. Because the percentage he donates is little above that on average donated by households with an income below $20 000 (around 5% of income), and because the institutions are more aligned with Griffin's interests than with what could measurably be called a 'good cause', I think it is worth considering the removal of philanthropist from the description at the top of his article. DawsonCXVII (talk) 05:18, 14 February 2019 (UTC)[reply]

Political and economic views

I work for Rubenstein and on behalf of Citadel, I’d like to flag the content most recently added to the Political and economic views section as possibly violating WP:NOR and WP:PRIMARYCARE. NinaSpezz (talk) 21:20, 8 August 2019 (UTC)[reply]

Reply 8-AUG-2019

  Edit request implemented  

  • The "most recently added" content, which stated Griffin cemented his evolution from a Reagan Republican to a Trump Republican by donating $1 million to pro-Trump super PAC, Future45 was omitted, as it states a point of view in Wikipedia's voice — namely — the point of view that donating money to Future45 indicates a person is "cementing an evolution" towards some sort of Trump Republicanism. Regards,  Spintendo  23:04, 8 August 2019 (UTC)[reply]

A Commons file used on this page or its Wikidata item has been nominated for deletion

The following Wikimedia Commons file used on this page or its Wikidata item has been nominated for deletion:

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A Commons file used on this page or its Wikidata item has been nominated for deletion

The following Wikimedia Commons file used on this page or its Wikidata item has been nominated for deletion:

Participate in the deletion discussion at the nomination page. —Community Tech bot (talk) 08:14, 1 November 2020 (UTC)[reply]

Career section

I work for Rubenstein. On behalf of Citadel and Ken Griffin, I would like to request revisions to the last paragraph in the Career section, which currently states:

In January 2021, Griffin attracted criticism for the role played by Citadel in the GameStop short squeeze.[1] On January 25th, it was announced that Citadel would invest $2 billion dollars into Melvin Capital, which had suffered losses of more than 30% on account of its short positions, particularly on GameStop.[2][3][4] On January 28th, the trading platform Robinhood, favored by many traders involved in buying GameStop stock and options, abruptly announced that it would halt all purchases of GameStop securities except to cover shorts and would only allow these securities to be sold if already held (but not sold short); the price of GME stock declined steeply shortly thereafter.[5] Because Robinhood receives a substantial portion of its revenue through a "pay for order flow" relationship with Citadel, many commentators criticized the potential for a conflict of interest when the same entity both plays the role of market-maker and also participates in the market that it makes; Griffin personally has been at the center of much discussion on this controversy.[6][7]

Citadel LLC (an investment firm) and Citadel Securities (a market maker) are separate businesses, as referenced in these articles from Bloomberg [8] and WSJ [9]. It is factually inaccurate to refer to them as “the same entity.” In addition, neither of the citations used on the existing page for this section use the term “conflict of interest.” Finally, this paragraph addresses speculative criticism on social media, which was refuted by Robinhood in a blog post and public statements[10] and in an affidavit filed February 10th, 2021.[11] The blog post notes, “To be clear, this was a risk-management decision, and was not made on direction of the market makers we route to."[12]

It would be more accurate and in line with the existing supporting citations to state:

In January 2021, Griffin attracted attention due to for speculation regarding the role played by Citadel and Citadel Securities during the GameStop short squeeze. On January 25th, it was announced that Citadel and its partners would invest $2 billion dollars into Melvin Capital, which had suffered losses of more than 30% on account of its short positions, particularly on GameStop. On January 28th, the trading platform Robinhood, favored by many traders involved in buying GameStop stock and options, abruptly announced without a clear rationale that it would halt all purchases of GameStop securities except to cover shorts and would only allow these securities to be sold if already held (but not sold short); the price of GME stock declined steeply shortly thereafter. Some social media users speculated whether Citadel Securities may have influenced Robinhood’s decision to limit GameStop trading as because Robinhood receives a substantial portion of its revenue through a "pay for order flow" relationship with the market maker.[13] Robinhood later stated it was “a risk-management decision, and was not made on direction of the market makers we route to.” In an affidavit filed February 10th, 2021 Robinhood further clarified that its decision was made to ensure the company met deposit requirements imposed by their clearinghouses, tied to a tenfold increase in trading activity.[10] The affidavit also describes speculation about Citadel and Citadel Securities as “completely false”.[11] many commentators criticized the potential for a conflict of interest when the same entity both plays the role of market-maker and also participates in the market that it makes; Griffin personally has been at the center of much discussion on this controversy.

NinaSpezz (talk) 17:14, 12 February 2021 (UTC)[reply]

References

  1. ^ Ori, Ryan. "Chicago billionaire Ken Griffin faces controversy involving Wall Street chat rooms, Robinhood trading app and GameStop's stock". chicagotribune.com. Retrieved 2021-01-30.
  2. ^ "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-01-30. {{cite web}}: Cite uses generic title (help)
  3. ^ Chung, Juliet (2021-01-25). "WSJ News Exclusive | Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-01-30.
  4. ^ GmbH, finanzen net. "GameStop short-seller down 30% this year gets $2.8 billion bailout from the firms of billionaire investors Steve Cohen and Ken Griffin". markets.businessinsider.com. Retrieved 2021-01-30.
  5. ^ Fitzgerald, Maggie (2021-01-28). "Robinhood restricts trading in GameStop, other names involved in frenzy". CNBC. Retrieved 2021-01-30.
  6. ^ "Ken Griffin, welcome to the white-hot national spotlight". Crain's Chicago Business. 2021-01-29. Retrieved 2021-01-30.
  7. ^ "Why are Robinhood traders bringing a class action lawsuit?". The Independent. 2021-01-29. Retrieved 2021-01-30.
  8. ^ "Citadel Securities Doubled Profit as Dominance Grew in 2020". Bloomberg. 2020-09-25. Retrieved 2021-02-12. ...with Citadel Securities handling more than a quarter of all U.S. equity volume in the first half of the year. The trading operation, which is separate from Griffin's hedge fund business...
  9. ^ "GameStop Frenzy Puts Spotlight on Trading Giant Citadel Securities". The Wall Street Journal. 2021-01-31. Retrieved 2021-02-12. Citadel Securities says it's separately managed from the hedge-fund side of Mr. Griffin's business.
  10. ^ a b "The Silicon Valley Start-Up That Caused Wall Street Chaos". The New York Times. 2021-01-30. Retrieved 2021-02-12. "It was not because we wanted to stop people from buying these stocks," Robinhood said in a blog post on Friday night. Rather, the start-up said, it restricted buying in volatile stocks so that it could "comfortably" meet deposit requirements imposed by its clearinghouses, which it noted had increased tenfold during the week.
  11. ^ a b "Lifetime achievement award: Ken Griffin". Risk.net. 2021-02-12. Retrieved 2021-02-17.
  12. ^ "Ken Griffin, welcome to the white-hot national spotlight". Crain's Chicago Business. 2021-01-29. Retrieved 2021-01-30. Robinhood said yesterday: "To be clear, this was a risk-management decision, and not made on direction of market makers we route to."
  13. ^ "Robinhood raises $1bn from investors and taps banks at end of wild week". Financial Times. 2021-01-29. Retrieved 2021-01-30. There were also statements after-hours on Thursday from market-making groups which process trades and were criticised on social media, including from Citadel Securities, the trading company owned by Ken Griffin, which pays Robinhood for orders. Citadel Securities said it had "not instructed or otherwise caused any brokerage firm to stop, suspend, or limit trading or otherwise refuse to do business".
While reserving the right to comment on other sections of your proposed edits at a later date, I see no reason why "Griffin personally has been at the center of much discussion on this controversy" should be removed. It is factually correct, appropriately sourced, and adds valuable information. On what grounds should it be removed? Publius In The 21st Century (talk) 23:00, 19 February 2021 (UTC)[reply]
 Not done: The majority of this edit is just adding wording that shifts negative attention away from Citadel (Securities) and toward Robinhood. As for discussion RE: the affidavit, including it as a source is essentially just saying "Griffin claimed the speculation was false". Also, the affidavit was written in the middle of a congratulatory article having to do with Griffin being given a "Risk Award" from risk.net, which just further weakens the rationale behind including mention of the affidavit. It's possible some of the wording in the original section should be changed for accuracy and neutrality, but I believe this proposed edit does a lot more harm than good. RFZYNSPY talk 05:26, 15 September 2021 (UTC)[reply]

Promotional whitewashing

I've undone the edit by Trader John1 that amounted to whitewashing, as it removed multiple critical sections.--- Possibly (talk) 10:16, 19 May 2021 (UTC)[reply]

Rollback

@Possibly: Please rollback to the version before Trader John started making edits. He clearly is WP:COI. The images he added are not in the public domain and he removed a lot of DUE content. Bvcqszj (talk) 13:59, 19 May 2021 (UTC)[reply]

Semi-protected edit request on 9 November 2021

Hello, I work for Citadel LLC and I would like to request the following edit. Please remove the photo that is now in the Infobox and replace it with the following photo. The old photo is a low quality screengrab, and the new one is higher quality. File: Kenneth C. Griffin.jpg Thank you very much much Amandaatcitadel (talk) 17:44, 9 November 2021 (UTC)[reply]

 Done In the future for COI edit requests please use the Template:Request_edit template. ScottishFinnishRadish (talk) 17:54, 9 November 2021 (UTC)[reply]

Infobox, Career and Philanthropy section edit requests

Hi, this is Amanda and I work for Citadel and Ken Griffin. I would like to propose the following edits:

  1. In the Infobox, please add "entrepreneur" and "investor" to the "Occupation" parameter
  2. In the Career section, please add the following sentence after the second paragraph: In the early 2000s, Griffin founded market maker Citadel Securities.[1][2]
  3. Please create a new sub-heading under the Philanthropy section called " COVID-19 response"
  4. Under the new sub-head please add the following two sentences:
    • Griffin oversaw a $2 million donation from Citadel and Citadel Securities to Weill Cornell Medicine to help to fund the development of new ways to protect people from COVID-19 and to identify new cases of the illness.[3]
    • In May 2020, Griffin and his partners at Citadel made a £3 million donation to help develop a COVID-19 vaccine and to support Nightingale Hospital.[4]
  5. Please move the following sentence from the "Poverty" section and add it to the new "COVID-19 response" section, including a new source which is a correction of the source that is there now that does not support the sentence. "In March 2020, in response to the COVID-19 pandemic, Griffin contributed $2.5 million to support food services for children in Chicago Public Schools."[5]

References

  1. ^ "Ken Griffin". Forbes.
  2. ^ Wolverson, Roya. "How Ken Griffin's Citadel transformed financial markets". Quartz.
  3. ^ "$2 Million Gift from the Partners of Citadel and Citadel Securities to Fund New COVID-19 Advances at Weill Cornell Medicine | Giving to Weill Cornell Medicine". give.weill.cornell.edu.
  4. ^ Gill, Oliver (2020-05-01). "Billionaire hedge fund backs British university hunt for Covid-19 vaccine". The Telegraph. ISSN 0307-1235.
  5. ^ Alexander, Sophie; Gordon, Amanda (19 March 2020). "Griffin's Citadel Sending Aid to Chicago to Help Pandemic". www.bloomberg.com.{{cite web}}: CS1 maint: url-status (link)

Thank you. Amandaatcitadel (talk) 16:19, 22 November 2021 (UTC)[reply]

Hi Amandaatcitadel, this looks good to me. Maybe one thing we could improve is whether we can find a WP:SECONDARY source for the Cornell donation? JBchrch talk 18:36, 24 November 2021 (UTC)[reply]
Hi JBchrch. Thanks for responding. I have an additional secondary source to support the donation to Weill Cornell, which mentions the donation, but does not give a specific amount. Perhaps you can combine the secondary and primary sources to support the statement about the donation? https://www.businessinsider.com/citadel-donates-5-million-to-new-york-hospitals-2020
@Amandaatcitadel: We are not really fond of business insider: see WP:BI. I think for this time we can run with the Cornell Weill press release as the sole source, as it's a reputable institution. I will now proceed to implement your request. JBchrch talk 22:33, 3 December 2021 (UTC)[reply]
And  Done JBchrch talk 22:40, 3 December 2021 (UTC)[reply]
Thanks so much JBchrch for implementing the edit requests in a timely fashion. Amandaatcitadel (talk) 17:49, 8 December 2021 (UTC)[reply]
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