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Citadel founder files for divorce from wife of 11 years

Atlantic City residents may be interested to learn that the billionaire founder of Citadel, Kenneth C. Griffin, has filed for divorce. Griffin and his wife had a prenuptial agreement dating back to 2003. The 45-year-old founder of the hedge-fund firm stated that irreconcilable differences were behind his decision to divorce his wife of 11 years, Anne Dias Griffin. The couple has three young children, and Griffin has an estimated net worth of $5.6 billion, according to the Bloomberg Billionaire's Index. Kenneth Griffin has asked for joint custody of their three kids.

The couple's prenuptial agreement may dictate the terms of the divorce settlement, including the division of property and spousal support, according to Griffin's attorneys. The end of the Griffins' marriage is unlikely to affect Citadel since Anne Griffin is not an owner of the company despite once running a hedge fund of her own. An attorney from Blank Rome LLP in New York said that Anne Griffin likely waived any interest in her husband's $20 billion business in exchange for a set monetary amount based on the time the couple was married. However, Anne Griffin's attorney declined to comment about whether his client would seek a portion of Citadel's assets.

Anne Griffin was a managing partner of an investment firm in Chicago until 2009 when she returned her investor's money and said that she wanted to focus on her family and civic activities. She had started the company in 2001. At its highest point, the company managed assets worth $200 million.

New Jersey law does not require an equal split of marital assets in a divorce. An attorney could help people facing divorce get a fresh start by employing legal strategies and negotiation tactics to fight for a fair and timely settlement.

Source: Bloomberg, "Citadel’s Griffin Seeks Divorce After 11-Year Marriage", Andrew Harris, Saijel Kishan and Katherine Burton, July 24, 2014

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