Ken Griffin

Ken Griffin has become Miami’s loudest — and most effective — cheerleader. Give him a microphone, and he’ll profess the virtues of the city: It is pro-business, low-tax, safe and, of course, has year-round sunshine. Unlike most Miami cheerleaders, Griffin has the cash to back up his words, thanks to his $50 billion estimated net worth tied to having founded hedge fund Citadel and market maker Citadel Securities.

Since relocating those businesses from Chicago to Miami in 2022, the billionaire has been hard at work rebranding the Magic City from a party spot into a serious business hub. Alongside another billionaire (and Power South Florida honoree) Stephen Ross, Griffin announced a $10 million campaign to persuade other CEOs to move their companies down to South Florida.

“Miami and the broader South Florida Gold Coast offer deep talent, regulatory clarity and an extraordinary quality of life,” Griffin said at a conference in February. “These are not secondary considerations. They are foundations for long-term success, and their impact compounds over time.”

Griffin has already caused a windfall for the real estate industry, igniting a surge of activity. His high-earning employees have filled apartments and bought luxury homes.

The billionaire himself has also spent lavishly. On the personal and residential front, he has spent at least $600 million on residential lots, condos and homes across South Florida. Most recently, he paid $75 million for a 3.7-acre site near South Beach with plans to build a private marina. 

On the commercial front, he purchased an office building in Miami’s Wynwood for $180 million this year. In the city’s Brickell, he’s developing his most audacious project yet: a waterfront, 54-story high-rise designed by Norman Foster’s firm. Griffin paid $363 million for the 2.5-acre parcel in 2022, then a record land sale for the city. Construction of the 1.7 million-square-foot tower — which will house more than 1.3 million of office space for his own companies and others — is expected to begin this year. He’s not worried about leasing it up.

“If we build it, they will come,” Griffin said.