Ken Griffin operating trading room at the Four Seasons Palm Beach during hotel closure
Hotels in Palm Beach County were ordered to close earlier this week
UPDATED, April 2, 7:30 p.m.: Billionaire hedge funder Ken Griffin set up a trading room for his Citadel Securities at the Four Seasons Resort Palm Beach, prior to the county’s order closing all hotels in Palm Beach County.
Griffin flew in traders and staff from his New York and Chicago offices to work out of the temporary trading floor, as first reported by Bloomberg, days after Florida Gov. Ron DeSantis ordered that all New Yorkers self-quarantine for a period of two weeks after arriving in the Sunshine State. A statewide stay-at-home order went into effect in Florida this week. The traders will also sleep at the hotel, Bloomberg reported.
Griffin was DeSantis’ top donor in his race for governor nearly two years ago. Griffin, a Daytona Beach native who has spent roughly $350 million on properties in Palm Beach, gave nearly $6 million to a political committee backing DeSantis, the Miami Herald reported.
Hotels in Palm Beach County closed as of midnight on Monday. The exception is for essential guests, who include healthcare workers, National Guard members and other critical guests. The Four Seasons is not accepting reservations until June, according to the Herald.
Citadel said that it’s trading volume has increased significantly during the coronavirus crisis, prompting it to open temporary offices in Palm Beach and Greenwich, Connecticut. [Miami Herald] — Katherine Kallergis
This story has been updated to reflect that Citadel said it reserved the hotel prior to Palm Beach County ordering the closure of hotels.