A major GOP donor has attacked President Donald Trump, saying his second presidency has enriched his family and organizations close to it.
Citadel CEO and Wall Street titan Ken Griffin was speaking at a conference in Florida on Tuesday when he asked whether actions taken by key figures in the White House orbit were purely in the American people’s interest.
“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,” the hedge fund founder said. “That calls into question: is the public interest being served?”
According to The Wall Street Journal, which hosted the event, he added, “One of the things that you want to believe is that those who serve the public interest have the public interest at heart in everything they do.”
The investment firm’s founder reportedly gave more than $100 million to conservatives during the 2024 election cycle, making him the fifth-largest individual contributor to outside spending, according to Federal Election Commission data via OpenSecrets.
The longtime donor did not give to Trump’s re-election fund, but after he won, donated $1 million to his inaugural committee, The Guardian reports. Elon Musk topped the group, with a $290 million spend.
The Financial Times previously reported that Trump and his family have earned more than $1 billion since his return to the White House, including through their cryptocurrency stable. It reports that companies associated with Trump’s family and friends, including Commerce Secretary Howard Lutnick, U.S. envoy Steve Witkoff, and Trump’s sons, have also benefited from its policies and access to government contracts.
Speaking at the Journal-hosted Florida event, Griffin said, “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 businesses,” he added.
Griffin’s words come against the backdrop of revelations about a $500 million investment by the Emirati royal family in Trump’s crypto firm, World Liberty Financial, shortly before his inauguration. Months later, the United Arab Emirates received the green light to import 500,000 Nvidia AI chips.
The move was derided by government watchdog Citizens for Responsibility and Ethics in Washington president Donald Sherman as “blatant, disgraceful conflict of interest and a possible violation of the Constitution’s Federal Emoluments Clause,” The Guardian reports.
Griffin’s claims are rare for someone on Wall Street and the first time he has specifically referenced the Trump family’s enrichment, despite being an outspoken critic of the president. During Trump’s second term, executives have largely opted not to ruffle his feathers, fearing their firms could fall foul of the Oval Office’s ire.
Since his return to it, Trump has made no secret about his interest in political retribution, seeking revenge on various enemies through the power of his office.
Griffin was not entirely negative at the conference, however, saying that Trump’s pick for Federal Reserve Chair, Kevin Warsh, was a prudent choice who would allow the central bank to maintain its independence. He also said he supports Trump’s policy on the U.S.-Mexico border.
White House spokesman Kush Desai told the Daily Beast: “The only special interest guiding the Trump administration’s decision-making is the best interest of the American people. The fact that major stock indexes have hit multiple all-time highs, real wages have grown, and inflation has cooled since President Trump took office is proof that this administration is delivering for every American.”
The Daily Beast has contacted Cantor Fitzgerald and the Trump Organization. World Liberty Financial refused to comment.
