FUTURE

We Know What Works - So Why Aren’t We Doing It? Ken Griffin on Getting America Back on Track

At the 2025 Milken Institute Global Conference, held in Los Angeles from May 4–7, 2025, Citadel CEO Ken Griffin joined Michael Milken for a compelling and wide-ranging discussion that transcended finance, diving deep into the core of American resilience, prosperity, and purpose. Titled “Course Corrections,” the dialogue wasn’t just about finance — it was about the future of America, its people, and the values that drive progress. Griffin brought candor, data, and personal conviction to each topic, urging bold yet practical reforms.

Photo: Milken Institute

A Clear-Eyed View on Economics

Griffin began by tackling the consequences of what he described as “poorly thought-out fiscal stimulus, an incredible regulatory burden, and unchecked inflation.” He expressed concern about how these factors have left many Americans feeling economically abandoned, noting that the country cannot sustain deficits of $1.5 to $2 trillion annually without risking its access to global capital. While acknowledging the Biden administration’s regulatory pause as a “godsend” for American entrepreneurship, Griffin remained skeptical about how much real deregulation could occur in a nation rightly concerned with clean air, safe streets, and healthy food.

Tariffs, Taxes, and a Post-Industrial Workforce

Griffin pulled no punches on tariffs, calling them “extraordinarily regressive” and counterproductive to raising living standards. He challenged the premise that tariffs would substantially resurrect American manufacturing jobs, observing that factory work now accounts for just 4–5% of the U.S. workforce — a stark reflection of the country’s transition into a post-industrial economy.

Innovation and AI: The Next Frontier

He also emphasized the transformative power of innovation, particularly artificial intelligence. Pointing to advances in agriculture and automation, Griffin asked, “Do you actually want to have a heavy labor content factory today, when in five to seven years, so much of that work will be done by AI-driven robotics?” For him, innovation isn’t just about efficiency — it’s the key to long-term productivity and economic growth.

Photo: Milken Institute

The Case for Talent Immigration

One of Griffin’s most passionate appeals was for immigration reform, especially for students graduating from U.S. universities. He lamented the nation’s failure to offer clear, simple pathways for educated immigrants to stay and contribute, advocating that a visa should come “stamped to your degree.” His rationale was economic as much as humanitarian: America’s human capital — often imported — is foundational to its prosperity. “This has been the country where people go to for a better life,” he said. “They need to stay here, right? That’s the key.”

Higher Education: A Gift and a Responsibility

As the largest donor in Harvard’s history, Griffin was candid about his mixed results influencing the university’s direction. Despite allocating most of his donations to financial aid, he admitted frustration that elite institutions like Harvard have veered away from a mission of national leadership, describing it as a “painfully short” fall from his aspirations. Still, his commitment to access remains strong. “I would make that gift all over again in a heartbeat,” he said, recalling how his grandmother’s scholarship helped him attend Harvard. “It would have been damn near impossible for my parents to make ends meet and to put me through Harvard.”

Reforming K–12: A Moral and Political Imperative

The most animated segment came when Griffin discussed K–12 education. He highlighted the dire state of many public schools, citing examples like Illinois schools where “not a single child could perform math at grade level.” By contrast, he lauded charter models like Eva Moskowitz’s Success Academy, where middle schoolers outperform high schoolers statewide. “We know how to educate children. She educates tens of thousands of kids over the years at Success Academy. We simply must choose to do it.”

Griffin was clear that the problem wasn’t knowledge — it was will. “This is where the public sector, teachers’ unions, and the body politic get sideways with what’s in the interest of society,” he said. He called for better compensation, portable benefits, and accountability for teachers, noting, “We need to raise starting salaries for teachers. We need to have teachers have portable benefits so that when they’re tired of teaching, they can leave the profession.”

Photo: Milken Institute

Public Safety and Philanthropy in Action

Griffin also spoke about his philanthropic investments in public safety, sharing how predictive analytics reduced crime in a tough Chicago neighborhood by 50%. “Do you know what happens when you know where crime is going to occur? You pre-position the police officers… except the crime never happens.”

Philanthropy as a Catalyst for Change

He doesn’t see philanthropy as charity, but as catalytic capital. During the pandemic, he helped close Chicago’s digital divide by funding internet access for thousands of underserved students — an idea later adopted into federal stimulus plans. Yet, he noted, bureaucratic delays have stalled similar efforts in rural America. “Starlink works in every private jet… and yet it’s not ‘good enough’ for rural America? That’s just wrong.”

Griffin emphasized that impactful philanthropy must go beyond good intentions. “I’m trying to use my philanthropic capital to create change across society. We do a lot of work with seeding ideas or concepts that we think can be rolled out, either across the state or across the nation.”

Inspiring a Life of Learning

He closed with a hopeful reflection on his support for science museums and cultural institutions, especially the Air and Space Museum in Washington, D.C. “I really do hope that creating those moments where a young child is inspired by science… I give them a gift that will forever spark their imagination, spark their creativity, and help them make the most of who they are.”

Photo: Milken Institute

A Call to Action

Throughout the dialogue, Ken Griffin made one thing clear: America stands at a crossroads. The tools for renewal are within reach — better education, sound immigration, responsible spending, and focused philanthropy. But the will to act must match the scale of the challenge.

In Griffin’s words, the American dream isn’t just an inheritance — it’s a responsibility. His message was both warning and invitation: to correct course now, before opportunity slips into nostalgia.