Billionaire hedge fund manager Ken Griffin, reportedly the second-wealthiest Florida resident, is in talks with Dolphins owner Stephen Ross about buying a minority stake in the team, a league source confirmed Tuesday.
The source said Ross’ discussions are preliminary to sell a minority stake in the team, Hard Rock Stadium, and F1 Miami to Griffin.
Local radio personality Andy Slater first reported the news and said the NFL is aware of the ongoing discussions.
Ross is not looking to sell majority or controlling interest in the Dolphins, stadium or F1 Miami. Ross’ goal is to raise additional funds to further invest in real estate and sports, according to the league source.
Ross already has invested more than $1 billion in Hard Rock Stadium and surrounding facilities since becoming Dolphins’ managing general partner in 2009. He’s also spent $4 billion plus in South Florida real estate.
Griffin, 55, is the founder, chief executive officer, co-chief investment officer, and 80 percent owner of Citadel LLC, a multinational hedge fund. He also owns Citadel Securities, one of the largest market makers in the country.
He bought a $75 million home on Star Island in Miami Beach in 2021 before moving Citadel to Miami from Chicago last year. Griffin also purchased the sprawling Arsht Estate, a four-acre compound overlooking Biscayne Bay, in Coconut Grove last year for $106.9 million.
As of this past spring, Griffin had an estimated net worth of $35 billion, making him the 38th-richest person in the world. This year, Forbes ranked him the 22nd richest American.
Billionaire Jeff Bezos, who recently relocated to Miami, is second on the Forbes list of richest Americans (behind Elon Musk) and the only Florida resident with a larger net worth than Griffin, according to the magazine.
Ross — who splits time between New York and Palm Beach — is rated 70th on the Forbes 400 list of richest Americans.