Ken Griffin, the founder and CEO of Citadel, is the third highest-earning hedge fund manager of 2023, trailing only TCI Fund’s Chris Hohn and Millennium’s Israel Englander. While Griffin’s hedge fund attracts significant attention and praise, he earns nearly as much from the similarly named yet far lesser-known separate entity, Citadel Securities. Citadel Securities is one of the largest market makers in the world. It earned $2.3 billion in revenue in the first quarter of 2024, the firm reported earlier this month. Last year, Citadel Securities earned $6.3 billion in revenue, compared with the eponymous hedge fund business’s $7 billion in net return. The market-maker posted a 54 percent profit margin in the first quarter of 2024, a significant increase from 42 percent in the previous quarter and 40 percent a year prior.

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