Billionaire hedge fund guru Ken Griffin names who will win the presidential election
Billionaire hedge fund manager Ken Griffin has said Donald Trump will likely win next week’s election, but he said the margin will be razor-thin.
“The expectation today is that Donald Trump will win the White House,” the Citadel founder said on Tuesday.
However, Griffin – whose $42 billion fortune makes him the 37th richest person in the world – noted that the race is “almost a coin toss.”
Griffin, a prominent Republican donor, has contributed about $100 million to the Republican Party this election cycle. Bloomberg reported.
Griffin is also infamous among retail investors for his involvement in the 2021 GameStop stock frenzy, where he was accused of helping hedge funds that suffered big losses if the stock price went too high.
Billionaire hedge fund manager Ken Griffin has said that former President Donald Trump is expected to win the election next week
Although Griffin said he expects Trump to secure a second term in the White House, he admitted the race is very close.
“We are in that moment of maximum uncertainty,” he said, speaking as part of a panel Saudi Arabia‘s Future Investment Initiative Summit.
“It’s a race Trump wants to win, but it’s almost a coin toss.”
He added that the clarity that an election victory will bring for both candidates will be good for markets.
“This uncertainty will be behind us,” he added.
While Griffin has donated millions to Republicans, he notably has not donated directly to Trump’s campaign.
The investor has focused its donations mainly on candidates in primaries, especially open primaries Bloomberg.
Griffin’s comments come after legendary investor Stan Druckenmiller said the stock market is “confident” Trump will win the election.
“I would have to guess that Trump is the favorite to win the election,” the billionaire said in an interview earlier this month.
He said there are indications in bank stocks and in cryptocurrency that markets are pricing in a Trump victory — amid reports that major hedge funds are positioning themselves to profit if Trump wins a second term.
Although Griffin said he expects Trump to secure a second term in the White House, he admitted the race is very close
Druckenmiller made the comments during an Oct. 16 interview with Sonali Basak.
She asked what the “Druckenmiller playbook” is around this election cycle and what he thinks is the most likely scenario for what will happen next month.
“The situation is evolving, and if you had asked me this twelve days ago, I would have said, ‘I have no idea, it’s still a total toss-up, and I have no conviction whatsoever as to who is going to win the election.” , the 71-year-old billionaire said.
But he said he likes to look to the stock market for indicators about the future of the economy — and as a clue during elections.
“I remember how good the market was in 1980 against Ronald Reagan, despite what the pundits said,” he said.
“And I have to say that over the last 12 days, the market and the inside of the market are very convinced that Trump is going to win.
“You can see it in the banking stocks, you can see it in crypto, you can even see it in DJT, his social media company.”
Druckenmiller, who has a net worth of about $6.9 billion, made his name managing money for George Soros for more than a decade. He also financed Nikki Haley’s primary campaign against Trump.
During the interview, he added that he would not support — and would likely not vote for — either Trump or Vice President Kamala Harris in this election cycle.
Meanwhile, Jamie Dimon, CEO of JPMorgan Chase – the largest bank in the US – has reportedly privately supported Harris, despite his public silence.
The CEO has reportedly not publicly announced his position because he fears Trump will retaliate against people and companies who opposed his election.
Legendary Investor Stan Druckenmiller Said the Stock Market Is ‘Convinced’ Donald Trump Will Win the Presidential Election
JPMorgan Chase CEO Jamie Dimon has reportedly endorsed Vice President Kamala Harris despite remaining publicly silent.
It comes at a time when major fund managers have sensed a shift in momentum away from Harris and are buying stocks that would benefit from a Republican victory, according to The Wall Street Journal.
For example, private prison operator GEO Group is up 21 percent in October, on track for its best month since 2022, while bitcoin miner Riot Platforms is up 34 percent.
That’s despite the fact that polls still largely indicate the candidates are neck-and-neck.
Trump leads the prediction markets, where people place bets on the outcome of the election, Fortune reported.
Still, polls from the New York Times/Siena College and Reuters/Ipsos show Harris with a one percentage point lead over Trump as of Wednesday.