Billionaire Republican donor Ken Griffin criticized President Donald Trump’s administration for what he sees as government favoritism favoring politically connected families. He called the situation “distasteful” to corporate leaders and warned it could damage trust in public institutions.
At The Wall Street Journal’s Invest Live conference in Florida, the Citadel founder questioned whether the public interest is being served by Trump’s actions. He stated that when public officials or their families profit from policy choices, it pressures business leaders to align politically instead of focusing on managing their companies.
Griffin highlighted business dealings involving Trump’s adult sons, Donald Trump Jr. and Eric Trump, as an example of what he believes is an inappropriate mixture of public power and private profit. He mentioned a $500 million investment from a member of an Emirati royal family in World Liberty Financial, a cryptocurrency venture tied to the Trump family, and said this arrangement “bothers” him.
He also noted that executives dislike feeling they need to “suck up” to elected leaders to protect their businesses. Griffin warned that this kind of pressure can silence corporate leaders in public discussions. He linked this situation to federal involvement in private industry, including government investments in companies that may appear to choose winners and losers.
BREAKING: In a stunning moment, Republican mega-donor Ken Griffin just admitted that Donald Trump has lied about who pays the tariffs. Make sure every American sees this. pic.twitter.com/REXPbEcFEa
— Democratic Wins Media (@DemocraticWins) January 21, 2026
Recently, the Trump administration has taken direct equity stakes in major U.S. companies as part of broader industrial policy efforts. In August 2025, Intel announced a deal in which the U.S. government agreed to purchase 433.3 million primary shares, making it a 9.9% stake, at $20.47 per share. At that time, Trump said the U.S. would hold about a 10% stake in Intel, viewing this as a way to convert government support into ownership.
In the critical minerals sector, the Department of Energy has sought an equity position related to financing for the Thacker Pass project in Nevada. Lithium Americas stated in October 2025 that the DOE would receive a 5% equity stake in the company through warrants and a 5% economic stake in the joint venture through additional warrants. Reports showed the DOE planned to secure those stakes through no-cost warrants as part of a renegotiated loan package.
Griffin made these comments as the White House defended its economic approach and business policies. A spokesperson pointed to strong economic indicators in response to criticism.
Though Griffin has supported conservative causes and candidates, he has not consistently backed Trump in recent cycles. The Guardian noted he did not donate to Trump’s 2024 re-election campaign but later contributed $1 million to the inaugural committee.
During the conference, Griffin expressed support for some administration priorities, including border security, and praised Kevin Warsh as a potential Federal Reserve chair. He also mentioned he might consider public service in the future, hinting that he could run for office or work in government.
