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Griffin still state’s richest person

Monday, Mar 20, 2017

* Crain’s

Ken Griffin of Citadel again leads Illinois in Forbes’ yearly list of the world’s billionaires.

The list includes 16 people from Illinois, down by one from 17 on​ last year’s list. […]

Five Pritzkers are among the 16 in Illinois on this year’s list: J.B., Thomas, Gigi, Jennifer and Nicholas Pritzker II.

Griffin, CEO of the Chicago hedge fund firm, had a net worth of $8 billion as of Feb. 17, according to Forbes, up from $7.5 billion on last year’s list. He is 166th overall on the world list.

Second in Illinois is Sam Zell, with a net worth of $5 billion. Third is J.B. Pritzker, at $3.4 billion.

Griffin and Zell are active Bruce Rauner supporters. Jennifer Pritzker is also a Republican.

The full Illinois list is here.

* Related…

* What will Zell do with $2.1 billion in cash?

- Posted by Rich Miller        

  1. - Stark - Monday, Mar 20, 17 @ 9:37 am:

    We can’t have a progressive tax though, it may hurt the economic growth of their fortunes. /s

  2. - Tron - Monday, Mar 20, 17 @ 9:43 am:

    This is a big reason why Rauner’s worldview rings hollow. He’s constantly saying how bad Illinois’ economic climate is, and that we need his “reforms” to fix it, but his pals are billionaires and are getting richer all the time.

  3. - wordslinger - Monday, Mar 20, 17 @ 9:45 am:

    When’s Griff moving to Gary? The govenor said all his biz buddies were running for the border because they can’t make a buck in Illinois.

    Griff grew up in Florida and went to school in Massachusetts. He chose Chicago as the place to make his fortune.

  4. - Ron - Monday, Mar 20, 17 @ 9:53 am:

    Progressive income tax is unconstitutional in Illinois.

  5. - Porgy Tirebiter - Monday, Mar 20, 17 @ 10:23 am:

    Gee Ron, really? Deep!

  6. - JS Mill - Monday, Mar 20, 17 @ 10:50 am:

    =The govenor said all his biz buddies were running for the border because they can’t make a buck in Illinois.=

    That seems to be the mantra of the ultra rich and corporate America. The profits of hundreds of millions are not enough.

    I don’t begrudge anyone their earned wealth, but the basic template is to scare states into reducing protections or giving out goodies or Corporate America will take their game elsewhere.

    Or they will offshore, like McDonald’s is with their IT dept, headed to India. These aren’t manufacturing jobs, these are 6 figure management and software/tech development and service jobs because someone employed by and Indian firm will do it for a 1/3 of the cost.

    The point is that it isn’t just between states, they will go overseas as well.

  7. - Rocky Rosi - Monday, Mar 20, 17 @ 10:53 am:

    Nice read but we will never know who is the richest in IL due to shell companies and off shore trusts.

  8. - City Zen - Monday, Mar 20, 17 @ 10:55 am:

    ==We can’t have a progressive tax though==

    We already do. If you work, you pay. If you’re retired, you don’t pay. Is that progressive enough?

    BTW - Probably not a good sign for wealth diversity when 1/3 of a list all have the same last name.

  9. - Arthur Andersen - Monday, Mar 20, 17 @ 11:24 am:

    The actual richest Illinoisan is Shahid Khan ($8.0 billion) of Champaign but he has a ” primary residence” in Naples.
    He’s no Griff, that’s for sure. Kind, charitable, and an all-around good guy. He also has some of the neatest adult toys a fella could ever want.

  10. - wordslinger - Monday, Mar 20, 17 @ 11:54 am:

    AA, Khan is a great story, turning a $50K SBA loan into a $2B a year biz.

    I guess some can still make a buck manufacturing Downstate, even without Commisar Rauner’s central planning.

  11. - Lucky Pierre - Monday, Mar 20, 17 @ 12:22 pm:

    What an “all around good guy” who moved his primary residence to Florida to avoid paying Illinois taxes

  12. - Arthur Andersen - Monday, Mar 20, 17 @ 1:16 pm:

    LP, you never quite get it. The amount of IL taxes generated out of Khan’s businesses here in Illinois is huge. The Sales and Income Tax for the businesses more than cover what he might have moved to Florida. FWIW, he has two Illinois residences that likely have a huge property tax bill.

  13. - City Zen - Monday, Mar 20, 17 @ 1:23 pm:

    LP - He does own the Jacksonville Jaguars.

  14. - @MisterJayEm - Monday, Mar 20, 17 @ 4:17 pm:

    ‘What an “all around good guy” who moved his primary residence to Florida to avoid paying Illinois taxes’

    Don’t worry, Khan wears an eighteen dollar watch.

    But speaking of your favorite billionaire — did he ever remember a job that his businesses created in Illinois?

    – MrJM

Sorry, comments for this post are now closed.

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