Stuck in the middle with you! Dan DeFrancesco in NYC, and I’m fascinated by Insider’s Yeji Jesse Lee’s step-by-step look at how MDMA affects the body and brain.
Today, we’ve got stories on why most finance firms have stopped forcing employees back in the office full time, how to stop mindlessly scrolling through your phone, and why quarter zips are the new hottest fashion item.
But first, it’s Ken Griffin’s world and we’re all just living in it.
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1. The top dog.
What’s the relevance of that number?
Is it the valuation of an up-and-coming fintech? Or perhaps the size of a new private-credit fund being raised? Maybe it’s the amount of times my wife and coworkers have brought up the drama on “Vanderpump Rules”? (That number is likely much higher.)
No, 4.1 billion represents the number of dollars Ken Griffin made from his hedge fund, Citadel, in 2022 alone.
Let that sink in. That’s not how much he’s made since he founded the fund in 1990. That’s not his net worth. That’s how much he made for a single year of work.
If Griffin worked 40 hours a week the entire year — something tells me he put in a bit more time — that comes out to an hourly rate of about $2 million. Griffin made more money in one hour than the average American makes in their lifetime!
Griffin’s 2022 comp is in the news because of Institutional Investor’s annual “Rich List,” which ranks the money earned by the top hedge-fund managers. Not only did Griffin secure the top spot by nearly $1 billion — beating out Millennium Management’s Izzy Englander who took home only $3.2 billion — it was also the highest amount of money earned by a hedge-fund manager in the 22-year history of the list, per II.
You can check out the 10 highest-earning hedge-fund managers from 2022 here.
Oh, and one more thing: That’s not even all the money Griffin earned in 2022!
Griffin, who Insider’s Dakin Campbell expertly profiled earlier this year, is also the founder and majority owner of Citadel Securities, a massive trading firm that handles roughly one out of every four US stocks. The firm, which operates separate from Citadel, posted …read more
Source:: Business Insider