SIG Venture Capital

Apr 26, 2023

download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Ken Griffin is leading a new generation of ultra-rich in the world of finance, after his hedge fund Citadel smashed industry records by earnings $16 billion in profit for investors last year. The 54-year-old, whose wealth sits at $35 billion, ranked at the top of "the new finance rich list " compiled by the outlet, which is based on data taken from Bloomberg's Billionaire Index but zeroes in on the top newest wealth builders in finance who made it to that list within the past 10 years. The selection criteria exclude those who were already ranked among the top 300 richest in 2013, inherited the bulk of their wealth, are over 70 years of age, or have retired from their business ventures. Second on the list is Jeff Yass who heads trading and technology firm Susquehanna International Group. The 67-year-old's net worth was at $33.1 billion, per Bloomberg. Binance CEO Changpeng Zhao, 46, came third with $28.2 billion in wealth. Citadel's Griffin raked in $4.1 billion from his hedge fund in 2022, after the powerhouse's multi-strategy flagship fund Wellington returned 38% last year, Bloomberg reported. Citadel has continued to shine this year after 2022's stellar performance in 2022. The hedge-fund's record-breaking gains last year topped the seven-year winner Ray Dalio's Bridgewater Associates on LCH's top hedge fund manager list for 2022. It also outpaced the roughly $15.6 billion made by investor John Paulson in 2007 – classed as the "greatest trade ever" at the time, per Bloomberg . The new generation of ultra-rich is led by the heads of financial companies like Griffin's Citadel that uses computer-driven algorithmic trading. Read next