Billionaire Kenneth Griffin’s financial empire expanded its holdings in gun and ammunition stocks this spring, newly-filed records show, while he and his favored GOP gubernatorial candidate, Richard Irvin, hammered Gov. JB Pritzker for rampant violent crime.
Griffin’s $51 billion hedge fund, Citadel, and its market-making cousin, Citadel Securities, increased the value of their gun and ammunition manufacturing holdings by 62% during the first quarter of this year compared to the final three months of 2021, a company filing with the federal Securities and Exchange Commission shows.
All told, Citadel’s gun and ammunition holdings were worth more than $139 million as of March 31, up from $86 million three months earlier, the records showed. […]
Last February, WBEZ reported how gun manufacturers in which Citadel invested produced one in four recovered firearms from Chicago homicides during the past five years.
Citadel maintained that it was compelled to hold shares in those gun companies because of its role as a market maker, but Griffin and the company faced criticism from some anti-violence activists because of his stridency in blaming Pritzker personally for rising crime in Chicago.
* From Ken Griffin’s spokesperson Zia Ahmed…
Citadel Securities is the largest equity market maker in the U.S., helping people buy or sell stock in companies they want to invest in to achieve their financial goals — whether to buy a home, fund their children’s education, or save for retirement. It is disappointing that a publicly-funded news organization insists on continuing to deliberately misconstrue our role in the marketplace and parrot sloppy political opposition research from Governor J.B. Pritzker. The violence destroying Chicago is the result of a failure to prosecute criminals, a lack of support for police, and progressive left legislation that prioritizes criminals ahead of law-abiding citizens – policies perpetuated by the Governor.
A “publicly-funded news organization.” Hmm.
* From Ken Griffin…
There’s an old adage, ‘Never wrestle with a pig. You both get dirty while the pig likes it.’ When great companies like Boeing decide to leave our State it should be a wake up call that policies not politics matter. The Governor should focus on making our streets safer, improving our schools, and creating more jobs in Illinois
Not sure that Boeing left for such parochial reasons, but whatevs.
* Natalie Edelstein at the Pritzker campaign…
Ken Griffin is entirely unserious about making our state safer and this massive increase in investments is just further proof. One out of every four guns recovered from city homicides in the past five years came off the assembly lines of companies in which Griffin’s Citadel held shares––and when faced with that information Griffin doubled down. Just like his hand-picked gubernatorial candidate Richard Irvin, Griffin will say anything to save face in public, but Illinoisans can see right through their tired act and know where their loyalties lie.
It’s still kind of a stretch.
* Eleni Demertzis at the Irvin campaign…
Mayor Irvin is a supporter of the 2nd amendment, owns two licensed firearms and believes Mr. Griffin, like everyone else in this country, is free to invest in whatever industry he chooses. Everyone agrees the spike in violent crime is directly related to the radical anti-police, pro-criminal policies pushed by JB Pritzker and Kim Foxx. To get violent crime under control, throw Pritzker out of office, repeal his radical pro-criminal policies, empower the police to do their jobs and pass a constitutional amendment to allow voters to recall pro-criminal prosecutors like Kim Foxx.
The spike in violent crime has been national.
Anyway, your thoughts?
*** UPDATE *** A spokesperson for Boeing just called to say that the company is not leaving Chicago. “We’re going to continue employing 400 people in the area.”
The spokesperson also pushed back at Griffin’s notion that the company left because of crime or other issues. “I can confirm that is not the case,” he said.