Key Takeaways
- • Citadel CEO Ken Griffin said unrest in Paris and other French cities should prompt young Americans to question whether socialist policies deliver the outcomes their supporters promise, according to remarks at Citadel Securities' Future of Global Markets Conference.
- • Griffin said France spends 60% of its GDP at the government level yet its streets are "awash in turmoil," calling it "the socialist dream" and describing the situation as "heartbreaking."
- • Griffin compared Paris to Chicago in 2021 and 2022, saying "Paris looked pretty damn similar to Chicago in those years."
- • Asked about US political candidates, Griffin named Illinois Governor JB Pritzker as a concern.
- • Griffin's comments reiterate his 2022 decision to relocate Citadel's headquarters from Chicago to Miami; these are his political judgments as reported by Fox Business.
Summary
Citadel CEO Ken Griffin said unrest in Paris and other French cities should lead young Americans to question whether socialist policies deliver the outcomes their supporters promise, according to a report by Fox Business. Speaking on a panel at Citadel Securities' Future of Global Markets Conference, Griffin argued that France's government spending and social safety net had not prevented disorder on its streets, framing the unrest as a warning for the United States.
Griffin cited a figure of 60% of GDP spent at the government level in France. "If you want to look at where socialism leads you to, look at France this last weekend. It's the socialist dream. The country spends 60% of its GDP at the government level. And yet their streets are awash in turmoil," he said. He also drew a direct comparison to American cities, stating, "Paris looked pretty damn similar to Chicago in 2021 and 2022." Griffin said the French unrest should be "a real wake-up call to every single young American."
When asked whether he had concerns about US political candidates who might steer the country in that direction, Griffin named Illinois Gov. JB Pritzker. "I mean, JB Pritzker, governor of Illinois. Yes, 100%," he said.
Griffin has tied his criticism of Chicago to Citadel's business decisions. The firm relocated its headquarters from Chicago to Miami in 2022, after operating in the city for nearly three decades. In November, Griffin told Fox News' Bret Baier at the America Business Forum that Chicago was a "failed city-state," citing colleagues whose cars were hit by gunfire and bullet damage to his former residence. "I had 25 bullet holes in the front of my building where I lived. You can't live in a city awash [with] violent crime," he said.
The remarks reflect Griffin's personal political views rather than findings established by the source report. His argument centers on public safety and the role of government, and he warns against policies he believes could threaten property and personal rights.
Griffin cited a figure of 60% of GDP spent at the government level in France. "If you want to look at where socialism leads you to, look at France this last weekend. It's the socialist dream. The country spends 60% of its GDP at the government level. And yet their streets are awash in turmoil," he said. He also drew a direct comparison to American cities, stating, "Paris looked pretty damn similar to Chicago in 2021 and 2022." Griffin said the French unrest should be "a real wake-up call to every single young American."
When asked whether he had concerns about US political candidates who might steer the country in that direction, Griffin named Illinois Gov. JB Pritzker. "I mean, JB Pritzker, governor of Illinois. Yes, 100%," he said.
Griffin has tied his criticism of Chicago to Citadel's business decisions. The firm relocated its headquarters from Chicago to Miami in 2022, after operating in the city for nearly three decades. In November, Griffin told Fox News' Bret Baier at the America Business Forum that Chicago was a "failed city-state," citing colleagues whose cars were hit by gunfire and bullet damage to his former residence. "I had 25 bullet holes in the front of my building where I lived. You can't live in a city awash [with] violent crime," he said.
The remarks reflect Griffin's personal political views rather than findings established by the source report. His argument centers on public safety and the role of government, and he warns against policies he believes could threaten property and personal rights.
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