"The King of Hedge Funds" fiercely criticizes Trump: Tariffs have led the U.S. to "slide into crony capitalism," with serious concerns about inflation

After previously criticizing Trump's tariffs and immigration policies, "the king of hedge funds," Ken Griffin, founder of Citadel, has again sharply criticized Trump's tariffs, stating they will lead the United States down the path of "crony capitalism."

On Thursday local time, Griffin warned during an interview with the Economic Club of New York that Trump's plan to raise tariffs will lead the U.S. "down the slippery slope of crony capitalism," and he harshly criticized other aspects of Trump's agenda.

Now you will find the halls of Washington crowded with special interest groups and lobbyists, seeking to raise tariffs to block foreign competition and protect inefficient American companies that cannot meet the demands of American consumers.

Griffin also expressed concerns about inflation:

"Severely worried" that Trump's tariffs and immigration restrictions will put enormous inflationary pressure on the U.S. economy.

Griffin further stated concerns about the risk of the immigration issue going too far under Trump's leadership. He pointed out that many top companies in Silicon Valley were founded by immigrants, and European leaders recently complained to him that the smartest talent in Europe (especially in the field of artificial intelligence) is moving to the U.S., and the U.S. must open its borders to the best and brightest talent.

It is worth mentioning that Griffin is a major donor to the Republican Party, but he has publicly opposed Trump. Regarding the most competitive candidate for Treasury Secretary, he supports Mark Rowan, founder of Apollo Global Management.

Griffin also mentioned for the first time:

Considering the possibility of selling a minority stake in the company. Citadel "just a few days ago" received a proposal from a private equity firm to invest $5 billion, which would help Citadel maintain its non-public status for a longer period.

Griffin founded Citadel in 1990, and the company has since developed into one of the most profitable investment firms in history. Griffin owns the vast majority of Citadel's shares, and the group has never accepted external investment before.

Just weeks before he made these remarks, an article from Wall Street Journal indicated that Citadel's main competitor, Millennium Management, is seeking strategic cooperation with BlackRock, the world's largest asset management company.

Additionally, Griffin stated that the multi-manager sector is the most profitable area in the global hedge fund industry, currently in a "consolidation phase," and may see growth again in the future