Hedge Fund Billionaire Ken Griffin Buys $60M Penthouse

Hedge Fund Billionaire Ken Griffin  is reportedly the buyer of the record-breaking real estate deal, $60 million penthouse at Faena House.

The Times reported that Ken Griffin, the founder and CEO of Chicago-based hedge fund Citadel, bought the eight-bedroom penthouse at Faena House in Mid-Beach for $4,794 per square foot.griffin-hedge-fund-penthouse

He paid $10 million above asking price for the 12,516-square-foot unit at the ultra-luxury, 18-story tower built by Argentine developer Alana Faena.

The deal was done through a Delaware corporation that lists no owner or board members. Delaware state law does not require companies to reveal their owners. Wealthy buyers often use such tactics to obscure their identities and prevent them from showing up in public property records.

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A rep for Griffin, whose fund manages $26 billion in assets, declined to comment on his bumper buy at the building.

But Griffin can afford it. Papers filed in the divorce revealed his monthly gross income “approaches $100 million,” and his net monthly income after taxes “averages more than $68.5 million” — which works out to more than $2.2 million a day.

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Ken Griffin, chief executive officer and founder of Citadel LLC, left, and Henry Kravis, co-chairman of KKR & Co., converse during the Museum of Modern Art's "Party in the Garden" at the museum's garden in New York, U.S., on Tuesday, May 21, 2013. The event raised more than $4.1 million. Photographer: Amanda Gordon/Bloomberg via Getty Images

 

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