The king of manipulating Wall Street shorts is Citadel founder Ken Griffin.
The Wall Street hedge fund billionaire has made most of his money betting against Main Street stocks and then manipulating their downfall to reap the rewards.
Griffin is despised by small investors, especially the Reddit WallStreetBets group who went head-to-head against the titan in the Gamestop and Robinhood story {backstory}. Recently Griffin moved his financial HQ from Chicago to Miami after giving Florida governor Ron DeSantis $10 million for his reelection effort.
Bloomberg News reported earlier today that Ken Griffin has said he is open to taking the position of U.S. Treasury Secretary after he is successful installing Ron DeSantis as the 2024 presidential winner.
[New York] – […] Griffin also revealed that he would be open to serving as Treasury secretary in a Ron DeSantis administration if the GOP governor of Florida decides to make a bid for the White House in 2024.
He told Bloomberg that he “will definitely be involved in the presidential race” and that he would consider moving to Washington, DC, if called upon to do so by a Republican president. (link)
There are trillions at stake…
The page on reddit that best covers Gamestop is the Superstonk page. Wallstreet Bets was taken over by hedge fund shills long ago.
The “slander DeSantis at any cost” continues…. Working hard to divide and undermine DeSantis and his policies. There seems to be a whole lot of speculation on Governor DeSantis future…. Keep it up and you will succeed in promoting Charlie Crist right into the governorship… oh, wait! That’s what you planned, right? Excellent!
Respectfully speaking, no one is slandering DeSantis. Truth is not slander.
Griffin has donated tens of millions of dollars to other conservative candidates and political committees across the country. He was raised in Florida and is building an oceanfront near Mar-a-Lago. Griffin has donated $10.75 million to a political committee that supports DeSantis , $5.75 million in 2018 (long before any of this speculation started) and $5 million last April. Griffin has a net worth of over $10 Billion. This is peanuts to him. He is the 4th largest billionaire donor, pouring more than $67 million into committees supporting Republicans in Congress. He also wrote a $5 million check to a campaign supporting Rick Scott. He’s also sent checks to Obama and Nelson.
He’s been open about not backing Trump.
“The Federal Election Commission records show he made 884 federal campaign contributions totaling $109 million since 2000. That was led by $78 million total given over time to his favorite political groups, the Republicans’ Senate Leadership Fund, Congressional Leadership Fund, and National Victory Action Fund, Scott’s New Republican PAC, and U.S. Sen. Marco Rubio‘s Conservative Solutions PAC.
A search of FEC records found no direct donations from Griffin to former President Donald Trump‘s campaigns or major committees.”
Just because now he’s open to Treasury Secretary… big deal.
half truth is not truth
It’s not slander, exactly, but it is attempting to muddy DeSantis by association. Sundance does some great work, but he is too in the tank for Trump alone to realize there may be other good candidates out there. Trump will get my vote if he runs, but don’t kid yourself, he has significant flaws and has made poor choices like all of them. Don’t trust any of these politicians too much is the best course of action in my book.
I think it goes something like – We report – YOU decide – If there is anything not *factual* in this article, let us know, so we can make informed decisions…
Facts are hard to dispute !!! Rino money is just that.
This is so dishonest. DeSantis is clearly signaling a presidential run, and chose to do so now, just a few weeks before his election for Governor. You can’t step into the ring and then cry foul when a few hits come your way. He chose the timing, not anyone else.
Everyone I know in Florida, where I live is voting for DeSantis for governor. I have seen his signs and none for Crist. Most of Florida remembers Crist’s governorship. Typical corruption, not a standout like DeSantis.
Remember the “DeSantis abandons Lee Zeldin” post? That’s funny, because I keep getting fundraising e-mails from DeSantis for his “good friend” Lee Zeldin.
I get that Sundance is a Trump partisan, but bashing anyone perceived to be eyeing a challange to Trump in 2024 is what Obamaites do. We should be better than that.
So, given your chosen moniker, are YOU a partisan? Or just a bogus political appropriator? 🙄
But where are those donations actually going? I get many such emails from candidates who supposedly support Trump and use his image, but are actually WinRed.
Yes, makes it difficult to figure out.
Anyone would be better than Nitwit Yellen.
She is a nitwit but I disagree that “anyone” would be better. Example: Bernie Bro’s.
And, there is this observation:
https://www.americanthinker.com/articles/2022/09/can_the_gop_accommodate_two_rock_stars.html
didn’t Griffin just move Citadel to Florida from Chicago because he despised the Dems there?
sounds like a good guy unlike the Dem billionaires who actually hurt Main Street and favor China and the woke here
BOSTON, June 23 (Reuters) – Citadel, the $51 billion hedge fund founded by billionaire investor Ken Griffin, is moving its global headquarters to Miami from Chicago, becoming the latest investment firm to shift offices to Florida in the wake of the pandemic.
Griffin is the wealthiest resident in Illinois with an estimated net worth of $25 billion. The decision to relocate the hedge fund and Citadel Securities, the electronic trading firm, was motivated by Florida’s business-friendly climate and tax advantages, and concerns about rising crime rates in Chicago, people familiar with his thinking said.
“made most of his money betting against Main Street stocks” So what? Shorting a stock both adds market depth and liquidity to a stock. Every buyer must have a seller and that’s what a short is- supplying inventory to the buyers. Simpletons think shorting is profiting off longs but what happens when the longs win and the shorts cover (at a loss)?? ANSWER: the stock zooms higher. Why no bellyaching about the losses the shorts took? It’s ignorant and foolish to make a case against a trader (who may indeed be a scumbag) by chastising shorting. Instead call him out on scumbag behavior- not shorting.
Citing reddit users as prima facia evidence that Griffin is a scumbag is also at best weak and practically stupid. Reddit opinions are not factual findings or conclusions of law. We all know that the number of people who hold an opinion does not a truth make.
How about you cite some verified facts that Griffin “manipulated” stock values illegally.
How about you consider that to a billionaire (God bless him – I wish I was that smart) 10mm is chump change. He gave it to his home state governor. Whoooo there’s a real indictment! Imagine a rich guy supporting his governor. Oh the humanity! Have you considered that DeSantis is more likely to become President in a post second term Trump era? And the rich guy is making long term plans while getting the favors of being a mega donor in his home state right now?
I suppose for the simple minded I need to add this disclaimer: Donald Trump IS my President. DeSantis IS NOT a threat to my President, and in fact I’m persuaded DeSantis has a chance to succeed my President’s second term. I know the left wants DeSantis to upset Trump’s second term- but that does NOT warrant silly specious accusations like the ones advanced in this purile article. Give me some real crimes and scumbaggery- not an infantile misrepresentation of the way a healthy and legal buyer and seller price discovery mechanism works.
Respectfully to a website I love: this is come crap reporting.
3 facts:
You may not like these facts but they are true and easily verifiable.
If it does not concern you that DS is likely to be running in 2024 as POTUS and very likely against President Trump while financing in this way with all of the obvious IOU’s and obligations that come with it, I invite you to step back and understand why there IS such a huge disconnect between the USG and the people.
DS cannot put the genie back in the bottle. He took the money. Intentionally. It is not bad dirty money per se, nothing illegal about it. But that completely misses the point. The issue is how reliable can we expect him to be as we have observed the same kind of political figures when they come pre-hooked already?
separately, I recommend you do some light reading to learn who Griffin is. What he is about?
I will not make this thread a beat down over Griffin. Many months ago, I listed several facts about griffin.
I have nothing against success. It is however important to notice the political ideology of these sponsors. It is also important to recognize business philosophy.
explore the debate of payment for order flow and the REAL reasons for ” commission free ” in trading.
it’s a deep dive but I am certain if you are interested in the type of business citadel is involved in, you will quickly understand and acknowledge that while “legal” it is a racket.
God Bless America