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Citadel CEO Ken Griffin says 'it's terrifying to watch' as tariffs open doors to crony capitalism

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"Tariffs open the doors to crony capitalism. The government starts to pick winners and losers," Griffin said.
Ken Griffin, the billionaire founder of Citadel, expressed strong criticism of former President Donald Trump's tariff policies at the Milken Institute Global Conference, labeling them as "crony capitalism" that could harm the U.S. economy. Griffin argued that tariffs, which Trump has proposed to increase if re-elected, unfairly benefit certain industries while increasing costs for consumers and potentially sparking retaliatory measures from other countries. He emphasized the need for free trade and warned that such protectionist measures could lead to economic inefficiencies and hinder global trade relationships. Griffin's comments come at a time when Trump's economic policies are under scrutiny as the 2024 presidential election approaches.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/09/ken-griffin-citadel-trump-tariffs-crony-capitalism-economy-milken-conference/ ]