Billionaire hedge fund manager Ken Griffin has said Donald Trump is likely to win next week’s election, but said the margin will be very close.
“The expectation today is that Donald Trump wins the White House,” the Citadel founder said 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 known among retail investors for his involvement in the 2021 GameStop stock frenzy, where he was accused of helping hedge funds that faced big losses if the stock price rose too much.
Billionaire hedge fund manager Ken Griffin has said former President Donald Trump is expected to win the election next week.
While Griffin said he hopes Trump wins a second term in the White House, he admitted the race is very close.
“We are in that moment of maximum uncertainty,” he said while speaking as part of a panel in Saudi ArabiaFuture Investment Initiative Summit.
“It’s a race that Trump is favored to win, but it’s almost a coin toss.”
He added that the clarity that an electoral victory brings, for any of the candidates, will be good for the 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 especially focused its donations on primary election candidates, particularly open primaries, according to Bloomberg.
Griffin’s comments come after legendary investor Stan Druckenmiller said the stock market is “convinced” Trump will win the election.
“I would have to assume that Trump is the favorite to win the election,” the billionaire said in an interview earlier this month.
He said there are clues in bank stocks and cryptocurrencies that markets are pricing in a Trump victory, amid information that major hedge funds are positioning themselves to profit if Trump wins a second term.
While Griffin said he hopes Trump wins a second term in the White House, he admitted the race is very close.
Druckenmiller made the comments during an October 16 interview with Sonali Basak.
He asked what the ‘Druckenmiller playbook’ is around this election cycle and what he thinks is the most likely scenario for what happens next month.
“It’s an evolving situation, and if you had asked me this 12 days ago, I would have said, ‘I have no idea, it’s still a total disaster and I have no conviction who is going to win the election,'” the billionaire said. 71 years old.
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 right the market was about Ronald Reagan in 1980, despite what the pundits said,” he said.
‘And I must say that in 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 bank stocks, you can see it in cryptocurrencies, you can even see it in DJT, their social media company.”
Druckenmiller, who has a net worth of around $6.9 billion, made his name managing money for George Soros for more than a decade. He also funded Nikki Haley’s primary campaign against Trump.
During the interview, he added that he would not endorse either Trump or Vice President Kamala Harris in this election cycle, and would probably not vote for either of them.
Meanwhile, Jamie Dimon, CEO of JPMorgan Chase, the largest US bank, has reportedly privately backed Harris, despite remaining silent publicly.
The CEO has reportedly not made his position publicly known because he fears Trump will retaliate against people and companies who opposed his candidacy if elected.
Legendary investor Stan Druckenmiller said the stock market is “convinced” Donald Trump will win the presidential election
Jamie Dimon, CEO of JPMorgan Chase, reportedly privately endorsed Vice President Kamala Harris, despite remaining silent publicly.
It comes as big money 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, GEO Group, a private prison operator, rose 21 percent this October, on track for its best month since 2022, while bitcoin miner Riot Platforms rose 34 percent.
This despite polls still largely indicating the candidates are tied.
Trump has the lead in prediction markets, where people place bets on the outcome of the election, Fortune reported.
However, New York Times/Siena College and Reuters/Ipsos polls show Harris holding a one percentage point lead over Trump as of Wednesday.