HomeWorld NewsCitadel CEO Ken Griffin’s worker present of three days at Disney World...

Citadel CEO Ken Griffin’s worker present of three days at Disney World stirs controversy | NEWSRUX

Citadel CEO Ken Griffin has stoked controversy after paying for about 10,000 employees members and their households to go to Disney World for 3 days as companies throughout Wall Avenue are reducing jobs and bonuses.

Citadel spokesperson Zia Ahmed mentioned Mr Griffin paid out of his personal deep pockets for about 10,000 employees and their households to converge on Walt Disney World in Florida for 3 days of celebrations within the Magic Kingdom and different theme parks.

He added that the billionaire picked up a number of tabs for workers in honour of the corporate’s blockbuster returns and for the celebration of its massive anniversaries.

These tabs ranged from airfares from New York, Houston, Paris, Zurich and different cities to paying for inns, park tickets and meals like lamb chops, sushi and paella.

Staff have been additionally handled to an enormous live performance by Coldplay, the British band Mr Griffin is very keen on, on Saturday alongside singer Carly Rae Jepsen and DJ Diplo.

The celebration was first reported by Insider and comes as companies throughout Wall Avenue put together for leaner instances by reducing again as inflation rises.

Mr Ahmed, nonetheless, mentioned this yr had formed as much as a report for Citadel and Citadel Securities.

The hedge fund agency, which manages $59bn in belongings, instructed buyers its flagship Wellington fund returned roughly 32 per cent via the tip of November, a dramatic distinction to different Wall Avenue companies and the financial system at massive, reported Reuters.

The celebrations marked the twentieth anniversary of Citadel Securities and the thirty second anniversary of the hedge fund.

Some celebrations have been deliberate for 2020, however needed to be postponed after the onset of the Covid pandemic.

“Now we have constructed probably the most extraordinary workforce not solely in our historical past — but in addition within the historical past of finance,” Mr Griffin instructed his workers at one of many festivities, the spokesperson mentioned.

“Now we have an unbelievable future forward of us – and I look ahead to the chapters but to be written.”

Some Twitter customers, nonetheless, criticised the transfer and accused the corporate of utilizing “stolen funds” to pay for the celebrations.

One person shared screenshots likening Citadel’s spending to Enron.

“New headline: Retail investor’s stolen funds pay for [Citadel] criminals to go to Disney World,” wrote one person.

“Glad to see that the cash stolen from synthetics and the darkish swimming pools the typical retail buyers goes to good use,” wrote one other.

Extra reporting by businesses

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