Topline
Hedge fund billionaire Ken Griffin, one of Wall Street’s most prominent Republicans, expressed frustration about President Donald Trump’s “anti-growth” tariff agenda and its impact on U.S. economic growth at Thursday’s 2025 Forbes Iconoclast Summit.
Hedge fund billionaire Ken Griffin went in on Trump’s policies Thursday.
Key Facts
“Unfortunately, the last few months have been characterized by a set of policy decisions that have rendered a great deal of uncertainty, have called into question American exceptionalism,” Griffin, founder of the Citadel hedge fund and market maker Citadel Securities, told Forbes editor-at-large and Iconoclast founder Maneet Ahuja.
Griffin said his firm cut in half its estimates of 2025 growth since Trump took office, explaining the tariffs have “taken their toll already on our economy.”
“The administration’s attempts to use tariffs comes at a dear price to the U.S. economy and comes at a dear price to the U.S. consumer,” added Griffin.
“Why are we aspiring to be the nation of the lowest cost and lowest paid workforce in the world? That makes no sense to me,” Griffin quipped about Trump’s push to onshore manufacturing of low-cost goods.
Crucial Quote
“Shame on the administration for criticizing [an] American CEO—who has done an extraordinary job of helping to have people get more for their dollar, more for the hours they work—for just being honest.” Griffin said Thursday about Trump’s criticism of Walmart after its CEO Doug McMillon warned of raising prices in response to higher import costs.
Forbes Valuation
A 1989 graduate of Harvard University, Griffin is worth $44.5 billion, according to our latest estimates. That makes him the 32nd-richest person in the world and the 20th-richest American. Griffin is the most profitable hedge fund manager in history, overseeing $83 billion in net gains at Citadel from its inception through 2024, according to LCH Investments.
Key Background
Historically one of the most prolific GOP donors, Griffin did not publicly support Trump prior to the 2024 election, though the Citadel founder said in December he did vote for the now president. In October, Griffin shared he wouldn’t vote with a “smile on my face” as both Trump and former Vice President Kamala Harris aren’t “going to receive an award for the quality of their policies” or “the quality of their leadership.”
Further Reading
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