- Billionaire Ken Griffin is putting more of a focus on Miami.
- According to a report from Coster News, Citadel's president is expanding into new offices in New York's Financial District.
- He has pumped millions of dollars into Florida since moving his company there from Chicago in 2022.
Ken Griffin has a Florida heart.
Citadel's billionaire president plans to add two more floors to the company's planned offices in a new 55-story building in Miami, Bloomberg first reported.
Bloomberg reports that the new Citadel office, located at 830 Brickell in the heart of Miami's financial district, will be eight stories tall.
A Citadel spokesperson confirmed the expansion to Business Insider.
According to developer OKO Group, the new tower, designed by Adrian Smith + Gordon Gill Architecture, will offer panoramic views of Miami, a luxury rooftop restaurant and a fitness center.
CoStar News reported that rents in the tower are more than $100 per square foot.
Griffin surprised the financial world when he announced he would be moving The Citadel from Chicago to Florida in 2022. He blamed Chicago's high crime rate at the time for the giant company's relocation.
Griffin said in November that Miami could one day overtake New York as the largest financial hub in the United States.
“I think Miami represents the future of America,” he said, praising the state's pro-business stance and its much lower taxes than New York or Chicago.
Citadel employees told BI earlier this year that Miami's abundant sunshine and low-stress atmosphere were a welcome change of pace.
Since relocating his office, Griffin has pumped millions of dollars into South Florida through donations to local programs.
Last September, he announced Griffin Catalyst, a Miami civic engagement initiative that builds on his previous philanthropic work and focuses on issues such as expanding charter schools, free speech initiatives, science and medical research, and promoting the “American Dream” and economic mobility.
Griffin has also donated to local hospitals and organizations, including $50 million to cancer research at the Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine and $9 million to expand tutoring programs in area public schools.
In total, the hedge fund manager has donated more than $300 million to South Florida charities, according to the South Florida Business Journal.
