Billionaire hedge fund manager Ken Griffin, who plans to develop a $1 billion tower in Brickell, hosted Miami Mayor Francis Suarez and his wife as personal guests at the Miami Grand Prix.
A spokesperson for Griffin’s company, which recently moved its headquarters to Miami, told the Miami Herald that Suarez covered the cost, a week after the publication raised concerns about the mayor accepting that as a gift. But Citadel did not provide documentation to prove that Suarez had paid for the $14,000-a-piece tickets. The mayor’s spokesperson said that Suarez covered the costs.
Including admission to the Carbone Beach after party that Suarez and his wife attended, the tickets for the May events were valued at about $34,000. Major Food Group hosted Carbone Beach, which Griffin also attended.
Griffin, a vocal supporter of the mayor, has also contributed $1 million to a political action committee that’s tied to Suarez. Suarez is running for the 2024 Republican presidential nomination.
The mayor also faces intense scrutiny over payments he received from developer Rishi Kapoor, whose firm hired Suarez as a consultant while Kapoor’s company, Location Ventures, had business before the city. Suarez’s annual financial disclosure form failed to reveal that compensation. The mayor’s net worth more than doubled to $3.4 million last year, compared to 2021, the disclosure shows.
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Meanwhile, Griffin’s firm is working on plans for a waterfront tower on Brickell Bay Drive, which will serve as Citadel and Citadel Securities’ new headquarters. Ethics laws in the state ban elected officials from accepting expensive gifts from individuals or companies that have business in front of the city. The law provides a 90-day window to repay the full cost.
— Katherine Kallergis