course history

Handelsblatt editor Frank Wiebe examines how fair things are on Wall Street.

(Photo: Getty Images/HB [M])

frankfurt Wall Street has a new hero or villain, depending on your point of view. His name is Ken Griffin, he resides in Miami and owns the market maker Citadel Securities and the hedge fund firm Citadel.

The market maker executes orders on the stock exchange and also takes its own positions, the hedge fund speculates on rising or falling prices. This duplication under one roof is already a special feature.

In the catastrophic stock year of 2022, Citadel’s largest fund, Wellington, managed a 38 percent rise, with the entire business unit generating $28 billion in revenue. Citadel Securities also hit a record $7.5 billion in revenue, according to Reuters.

Griffin invited about 10,000 employees to a three-day party Disney world one. It also plans to occupy about half of a planned mega-skyscraper on Park Avenue in Manhattan.

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