The man is Ken Griffin.
Lucy Nicholson is pictured.
The Wall Street Journal reported that Ken Griffin's Citadel Securities is about to get its first outside investment.
The market maker will get about $1 billion in proceeds.
The $43 billion hedge fund named Citadel has separate management of Citadel Securities.
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The Wall Street Journal reported that the market maker owned by billionaire Ken Griffin will get capital from two firms.
According to the report, the two investment firms are going to invest over $1 billion in Citadel Securities. The $43 billion hedge fund named Citadel is owned by the same person as Citadel Securities.
According to the report, the investment from the two companies will give the company capital to continue its global expansion, and it could be a step towards offering cryptocurrencies services and eventually bringing the company public. The report said that Citadel has no plans to go ahead with a public listing in the near future.
27% of the shares that change hands in the US stock market are handled by Citadel Securities. Payment-for-orderflow agreements with various brokerage firms allow a lot of those trades to be directed to Citadel.
A surge in business for Citadel was caused by a trading frenzy among retail investors and a short squeeze in meme stocks like AMC Entertainment. The company's net trading revenue increased to a new high of $6.7 billion in 2020, which was double the previous high set in 2018, according to the report.
Increased scrutiny of the company by retail investors resulted in various conspiracy theories. The Saturday Night Live joke was about his relationship with retail investors.
In addition to the trading scandals surrounding meme-stocks and Citadel, the company also managed to tick off some people by outbidding ConstitutionDAO for a rare copy of the US Constitution.
"My son called me and said, 'Dad, you have to buy the Constitution,' and I was sitting at home in New York," he said.
Business Insider has an original article.
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