Citadel founder and CEO Ken Griffin criticized the Trump administration’s interference into the day-to-day business of American companies and raised concerns about self-serving decisions made by government officials.

Griffin, a Republican megadonor, emerged last year as President Trump’s most vocal critic on Wall Street.

I want to expand upon Griffin’s criticism of the Trump Administration for several reasons.

  • I am an opponent of Corporate Favoritism, which is defined as government giving special treatment to some companies or industries.
  • I advocate a return to our traditional foreign alliances with Canada, Western Europe, and Japan.

Griffin’s comments on Trump’s administration interference:

“When the U.S. government starts to engage in corporate America in a way that tastes of favoritism, I know for most CEOs that I’m friends with, they find it incredibly distasteful.”

“Most CEOs just don’t want to find themselves in the business of having to, in some sense, suck up to one administration after another to succeed in running their business.”

I fully agree with Griffin on these points. He faulted the federal government for investing in private-sector companies, a practice that he said also happened in the Obama and Biden administrations. Under President Trump, Griffin said he was also bothered by business deals that benefited family members of the president and administration officials, such as when lieutenants to an Abu Dhabi royal bought a 49% stake in the Trump family’s nascent cryptocurrency firm just before the inauguration. The Wall Street Journal earlier reported on the $500 million investment.

Griffin said:

“This administration has definitely made missteps in choosing decisions or courses that have been very, very enriching to the families of those in the administration.”

“That calls into question, is the public interest being served?”

Other statements by Griffin:

“Other CEOs were terrified to speak out on social and political issues right now because they fear a social-media-fueled product boycott because of their stances.”

“The power of social media to persuade millions or tens of millions of consumers to make a product choice is really terrifying to corporate executives, and I think it’s put them in a very, just, intrinsically withdrawn position.”

Griffin asked a very relevant question – “Is it really good that the people that create the jobs that we all need in our lives, do we really want to have their voices completely extinguished?”

I would add that Trump can and does use government regulatory power to help or hurt individual businesses. From my perspective, this is no different than the business policies of fascist governments. While I am a little naïve, I love the principles enunciated by Adam Smith and Milton Friedman. In a nutshell, these two famous economists advocated for very little interference in the economy. Simply stated, the marketplace, over time, has been a wonderful monitor of the economy.

Griffin donated more than $100 million to conservative candidates and causes during the 2024 election cycle but didn’t give money to Trump’s re-election efforts. After Trump won, Griffin gave $1 million to the president’s inaugural committee. While I do not know Griffin’s motivation to give to the Trump inaugural committee, it was a “cheap” insurance policy against Trump’s vindictiveness. His firm, Citadel, does about 25% of daily trading activities of stocks. Thus, Citadel would be vulnerable to government investigation and recriminations.

Griffin did make positive reference to some of Trump’s policies. Specifically, the administration’s focus on securing the U.S. border with Mexico and Trump’s nomination of Kevin Warsh as chairman of the Federal Reserve.

Is there a political future for Griffin? Possibly so.

Griffin, now a Florida resident after crime and other factors prompted him to move Citadel away from Chicago in 2022, opened the door for a potential run for political office or job in government.

Griffin said, “I’d like to believe that at a future point in my life, I will be involved in public service.”  He added, “I’ve been able to have my voice heard on important issues, and I’d like to think that I’ve nudged the country and in small ways in good directions.”

In conclusion, we need people of principle NOW. We cannot afford to be complicit. I am heartbroken that the Republican Party of Dwight Eisenhower, Ronald Reagan, George Herbert Bush, and Mitt Romney no longer exists.

While I am apprehensive about the ascension of the Progressive Movement in the Democratic party, I support conservatives boycotting the Republican Party.

In summary, I deplore the Corporate Favoritism of today’s administration and believe a reconciliation with Canada, Mexico, and Europe is in the best interests of the United States.