A hedge fund billionaire says Chicago's roads are 'borderline third world'

pulse

May 1, 2017 8:21 PM

Hedge fund billionaire Ken Griffin said he finds US infrastructure a disgrace and worries about poor people's access to digital technology.

LOS ANGELES – Hedge fund billionaire Ken Griffin said he finds US infrastructure a disgrace.

Speaking at the Milken Institute Global Conference held at the Beverly Hilton, Griffin described how he finds driving in Chicago, where his fund, $27 billion Citadel, is based.

"It’s a borderline third world country," he said. "It’s a disgrace. It’s simply wrong."

The billionaire also said the US needs to address its airports and its electrical grid, by implementing lower cost of production.

Griffin also said he is concerned about a disparity in access to technology between the rich and the poor.

"If you grow up in the inner city of Chicago and don't have access to Google as a young boy or girl, that puts you at a big disadvantage," he said.

Griffin also said that he was bullish on the Trump administration's pitch to deregulate industries like energy and financial services, and its push for tax reform.

However, he also flagged concerns about the administration's rhetoric on immigration. He said he was "terrified" since many of his hedge fund's senior staffers were born outside the country.

Citadel, one of the world's biggest hedge fund firms with $27 billion, is based in Chicago and has offices globally.

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