Citadel founder and Republican financier Griffin blasts: Trump administration members lining their own pockets

A major Republican donor and Wall Street billionaire investor, Ken Griffin, publicly accused members of the Trump administration of abusing their power for personal gain, questioning whether their decisions truly serve the public interest.

On Tuesday, February 3rd, Griffin, founder of Citadel, stated at The Wall Street Journal conference in West Palm Beach, Florida:

This administration has indeed made mistakes in choosing decision-making or action directions, decisions that greatly benefited the families of internal government personnel.

He added:

This raises a question: has the public interest been protected?

In response to Griffin’s remarks, White House spokesperson Kush Desai stated that the guiding principle of the Trump administration’s decisions is the greatest benefit for the American people, as evidenced by record-high stock markets, real wage growth, and cooling inflation.

Analysts believe Griffin’s public criticism breaks the usual silence of the American business community since Trump returned to the White House last year. Many business leaders previously sought to build good relations with the White House by donating to inauguration funds, even choosing to remain silent when opposing government policies.

Family members of government officials benefiting raises questions

Griffin explicitly expressed concerns about government family members gaining financial benefits. He said:

You want those who serve the public interest to keep the public interest in mind in everything they do.

It has been reported that Trump and his family members have indeed profited since taking office last year.

A October investigation showed that Trump’s cryptocurrency business earned over $1 billion in pre-tax profits in the past year. The crypto-friendly policies implemented by the White House stimulated the entire market, benefiting his companies.

Family members of other government officials, such as U.S. Secretary of Commerce Gina Raimondo and U.S. Special Envoy Steve Witkoff, have also benefited.

Wall Street’s major donor criticism stance

According to OpenSecrets data, Griffin donated tens of millions of dollars to Republican political groups during the recent presidential election but did not publicly support Trump. He has become one of Wall Street’s most outspoken critics of this administration.

His criticisms mainly focus on policy issues. Soon after the 2024 election, Griffin warned that President Trump’s plan to raise tariffs would lead the U.S. down a “crony capitalism” path. His comments on family profits are a rare foray into this sensitive area.

Griffin hinted at considering entering politics, saying, “At some point in the future, I hope to participate in public service.” However, he did not specify when and added that he loves his current work and colleagues.

Since Trump’s return to the White House last year, American corporate executives have been cautious about openly criticizing the government.

Griffin said this situation has raised concerns that the U.S. is entering a cycle where business leaders must constantly cater to those in power rather than rely on business success. He stated:

Most CEOs just don’t want to find themselves having to pander to successive administrations to succeed in their businesses.

However, Griffin is not entirely critical of the government. He believes Trump’s decision to appoint Jerome Powell to lead the Federal Reserve shows that the central bank can maintain independence.

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