Ken Griffin’s biggest problem in moving Citadel from Chicago to Miami is not what you think

You mightiness deliberation nan biggest problem billionaire Citadel leader Ken Griffin faces successful moving his hedge money and market-making empire from crime-ridden Chicago to nan sunny and acold little dangerous confines of Miami is nan costs of nan move. Yes, his squad will beryllium eating losses connected costly existent property (including his Chicago penthouse) that they request to unload astatine occurrence waste prices.

But an moreover bigger issue, institution insiders show On The Money, is uncovering capable high-end backstage schools to accommodate his fat feline bankers and traders who are besides making nan move and worrying astir whether nan Sunshine State tin supply a decent acquisition for their kids.

“There conscionable aren’t capable of these places,” 1 root said.

Ken Griffin and different fat feline bankers and traders who are fleeing to nan Sunshine State wonderment if nan authorities tin supply a decent acquisition for their kids. Jack Frobes

As a proud postgraduate of nan very nationalist Yorktown High School successful Westchester County, I’m hardly an master astatine backstage schools present successful New York overmuch little southbound Florida. So I consulted that invention known arsenic “The Google” for nan champion backstage schools successful nan area.

One nationalist top-10 database featured conscionable a azygous Miami-area backstage schoolhouse – Ransom Everglades – successful its ranking, which is why Kenny G is freaking retired arsenic his well-heeled unit faces agelong hold lists for small buffy and biff to get their high-end education.

It’s good documented that southbound Florida’s organization has swelled successful caller years, peculiarly from an influx of residents fleeing harsh COVID lockdowns successful bluish states and defund nan constabulary movements that has led to crisp spikes successful crime in New York City, Chicago, etc. 

But it’s not conscionable nan masses moving for their lives. Big businesses for illustration Goldman Sachs, Blackstone, awesome hedge costs and yes Citadel are opening offices successful nan area looking to pat into nan state’s little taxes arsenic well. 

Needless to opportunity location has been a awesome transplant of wealthiness to southbound Florida. Business Insider reported that Miami’s organization of millionaires spiked a whopping 78% complete nan past 10 years (citing nan patient Henley & Partner), each of which has put a immense strain connected nan area’s upscale backstage schoolhouse infrastructure.

“The connection is that Griffin’s biggest interest is nan backstage schoolhouse shortage,” nan institution insider said. 

A Citadel spokesperson had nary comment.