Ken Griffin, the billionaire head of Citadel, is navigating a significant transition, relocating his hedge fund and trading behemoth from the troubled streets of Chicago to the sun-kissed, safer environment of Miami. A seemingly straightforward move shadowed by cost concerns, particularly the urgent sale of their upscale Chicago properties, poses an unexpected challenge that’s proving to be a major headache. The real struggle? Securing spots in Miami’s elite private schools for the children of Griffin’s high-flying team.
Miami’s allure has reached a pinnacle, drawing in residents escaping states with stringent COVID-19 lockdowns and surging crime rates, further fueled by calls to defund the police. This exodus includes prestigious firms like Goldman Sachs and Blackstone, alongside major hedge funds making south Florida their haven for its favorable tax conditions. However, this influx of wealth has strained local high-end educational facilities, startling newcomers who prioritize top-tier education for their offspring.
One insider captures it succinctly: the scarcity of private educational institutions capable of meeting these families’ expectations stands as Griffin’s foremost concern during the transition. Despite the allure of lower taxes and sunny skies, the real dilemma for Miami’s newest affluent residents is finding a quality education for their kids, with long waitlists at prestigious schools like Ransom Everglades signaling a growing issue.
#KenGriffin #CitadelMove #Miami #PrivateSchools #EducationCrisis #BillionaireProblems #RelocationChallenges
