{"id":261483,"date":"2026-05-07T01:53:18","date_gmt":"2026-05-07T01:53:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/261483\/"},"modified":"2026-05-07T01:53:18","modified_gmt":"2026-05-07T01:53:18","slug":"we-need-to-double-down-on-our-bet-in-miami-says-citadel-ceo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/261483\/","title":{"rendered":"\u2018We need to double down on our bet in Miami,\u2019 says Citadel CEO"},"content":{"rendered":"<p>Ken Griffin is doubling down on Miami as the billionaire CEO and founder of hedge fund Citadel and its sister company Citadel Securities revised plans to expand a proposed supertall office headquarters in the city\u2019s financial district.<\/p>\n<p>Griffin announced plans on Tuesday at the Milken Institute Global Conference in New York City to take the hotel component out of the tower and make it all office space. Citadel made public its initial plan in 2024 to build an over-1,000-foot-tall headquarters building at 1201 Brickell Bay Drive in Miami\u2019s financial district with both offices and a hotel component proposed.<\/p>\n<p>The building has not yet broken ground. <\/p>\n<p>The $67 billion hedge fund relocated its headquarters from Chicago to Miami in 2022, settling in the Southeast Financial Center in downtown at first. The company then moved into 830 Brickell in 2024 when the trophy office tower opened.<\/p>\n<p>During the New York conference, Griffin addressed a <a class=\"Link&#010;\" href=\"https:\/\/www.youtube.com\/watch?v=FLKZnVB4F9k\" target=\"_blank\" rel=\"nofollow noopener\">viral video<\/a> posted by New York City Mayor Zohran Mamdani that singled out the executive\u2019s $238 million penthouse in the Big Apple as a prime example of a proposed nonresident pied-a-terre tax.<\/p>\n<p>\u201cWe went to Miami and revised our building plan to make it a bigger office building. \u2026 What the mayor of New York has made clear to my partners &#8230; and my New York partners \u2026 is that we need to double down on our bet in Miami,\u201d Griffin said.<\/p>\n<p>He said that the New York mayor\u2019s video demonstrated that the move to Miami was \u201cunquestionably\u201d the right choice. \u201cWhen we moved from Chicago, there was a debate between New York and Miami. \u2026 Mamdani\u2019s making it really clear, New York doesn\u2019t welcome success,\u201d Griffin said at the conference. <\/p>\n<p>\u201cWe want to be in a state that embraces business, that embraces education, that embraces personal freedom and liberty, and that embraces people having an opportunity to live the American Dream.&#8221;<\/p>\n<p>Ken Griffin, Chief Executive Officer and Co-Chief Investment Officer, Citadel<\/p>\n<p>Miami-Dade County\u2019s building department has yet to upload the new plans, with the most recent documents available on the county\u2019s website, added in January, still showing a hotel planned for the tower\u2019s upper floors. A Commercial Observer report, citing a spokesperson for Citadel, stated that the firm\u2019s development efforts at 1201 Brickell were focused \u201csolely on commercial office space.\u201d<\/p>\n<p>\u201cWe want to be in a state that embraces business, that embraces education, that embraces personal freedom and liberty, and that embraces people having an opportunity to live the American Dream,\u201d Griffin said.<\/p>\n<p>The billionaire has become one of Miami\u2019s and South Florida\u2019s biggest boosters. In February, he partnered with New York and South Florida billionaire developer Stephen Ross to provide $10 million for a campaign from the Council of 100s \u2014 a pro-business nonprofit organization \u2014 meant to promote South Florida and recruit entrepreneurs and business owners to the region.<\/p>\n","protected":false},"excerpt":{"rendered":"Ken Griffin is doubling down on Miami as the billionaire CEO and founder of hedge fund Citadel and&hellip;\n","protected":false},"author":2,"featured_media":261484,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[123,125,124],"class_list":["post-261483","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/261483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=261483"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/261483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/261484"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=261483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=261483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=261483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}