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Citadel, a financial company, has achieved unprecedented success with a financial move that has gene

Citadel, a Miami-based hedge fund founded and run by Ken Griffin, has become the most successful hedge fund in history after earning $16 billion in profits last year, the largest annual gain on record. According to estimates from LCH Investments NV, Citadel topped the 2022 ranking of the world's best-performing hedge funds. This record-breaking performance came as many other investors experienced steep drops in equity and bond markets.

Citadel's total gains since its inception have now reached nearly $66 billion, surpassing Bridgewater, which had held the top spot for seven years with gains of $58.4 billion. Ray Dalio's Bridgewater fund earned $6.2 billion last year, bringing its total assets under management to $81 billion, while Citadel manages $62 billion in assets.


Rick Sopher, Chairman of LCH Investments, said, "Citadel's $16 billion profit even surpasses [John] Paulson's 2007 gain, which has been described as 'the greatest trade ever'." Paulson, an investor, made $15 billion in 2007 by correctly predicting that the value of securities backed by subprime mortgages would collapse, an event that helped trigger the global financial crisis.


Sopher also pointed out that Citadel, which was established in 1990, does not rely on an investment strategy tied to rising asset prices and has "multiple sources of profits", which may explain its record gain despite a volatile market last year.


Overall, the top 20 hedge funds made $22.4 billion in net gains in 2022, a significant decrease from the year before when markets were soaring, according to LHC Investment data. The S&P 500 index, by comparison, lost about 19% last year. Citadel declined to comment on the story related to its performance to CNN. LCH was launched in 1969 and is the world's oldest fund of hedge fund.

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