{"id":6364,"date":"2023-04-11T15:26:34","date_gmt":"2023-04-11T15:26:34","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/citadel-founder-ken-griffin\/"},"modified":"2023-04-11T15:29:37","modified_gmt":"2023-04-11T15:29:37","slug":"citadel-founder-ken-griffin","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/citadel-founder-ken-griffin\/","title":{"rendered":"Citadel founder Ken Griffin donates $300 million more to alma mater Harvard"},"content":{"rendered":"

By Svea Herbst-Bayliss<\/p>\n

NEW YORK (Reuters) – Billionaire investor Kenneth Griffin, who started his hedge fund in his dormitory at Harvard University, is donating $300 million to his alma mater, raising the total amount of his gifts to the Ivy League university to more than half a billion dollars.<\/p>\n

The gift, which is unrestricted, is earmarked for the university’s 150-year-old Faculty of Arts and Sciences (FAS), which oversees the undergraduate program as well as all PhD programs plus athletics, museums and libraries.<\/p>\n

“Ken’s exceptional generosity and steadfast devotion enable excellence and opportunity at Harvard,” Harvard President Larry Bacow said in a statement. FAS will be renamed the Harvard Kenneth C. Griffin Graduate School of Arts and Sciences. <\/p>\n

Griffin, who graduated from Harvard College in 1989 and later founded hedge fund Citadel and market-making firm Citadel Securities, has a net worth of $35 billion, according to Forbes.<\/p>\n

In 2014 he donated $150 million to Harvard, making what remains the single largest gift to undergraduate financial aid. He has also given to the university’s business, law and education schools and established a scholarship in honor of his grandfather.<\/p>\n

Griffin’s total philanthropic giving is approaching $2 billion.<\/p>\n

Harvard is one of the world’s richest universities, with an endowment of $51 billion at the end of fiscal 2022. It previously received a $500 million gift from Priscilla Chan and Mark Zuckerberg for an artificial intelligence institute and $400 million from hedge fund investor John Paulson for the School of Engineering and Applied Sciences.<\/p>\n

After beginning to bet on convertible bonds while living at the university’s Cabot House, Griffin went on to found Miami-based Citadel, one of the world’s biggest and most successful hedge funds, which earned a record $16 billion profit in 2022.<\/p>\n

\n

(Reporting by Svea Herbst-Bayliss; Editing by Mark Porter)<\/p>\n

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By Svea Herbst-Bayliss NEW YORK (Reuters) – Billionaire investor Kenneth Griffin, who started his hedge fund in his dormitory at Harvard University, is donating $300 million to his alma mater, raising the total amount of his gifts to the Ivy League university to more than half a billion dollars. The gift, which is unrestricted, is […]<\/p>\n","protected":false},"author":8,"featured_media":6365,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-6364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3A0JB-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=6364"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6364\/revisions"}],"predecessor-version":[{"id":6366,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6364\/revisions\/6366"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/6365"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=6364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=6364"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=6364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}