Over the weekend, Argentina and France faced off for the final game of the 2022 FIFA World Cup. Ultimately, Argentina emerged victorious. But savvy investors were focused on something else.
Specifically, Tesla (NASDAQ:TSLA) CEO Elon Musk and Citadel CEO Ken Griffin were spotted together in a VIP section of the game. In addition, former Senior Advisor Jared Kushner was spotted with the Tesla CEO as well.
Musk and Griffin appear to be friendly, as Griffin had previously committed less than $20 million to Musk’s takeover of Twitter. Furthermore, Griffin enlisted the help of law firm Quinn Emanuel in his battle against the Internal Revenue Service (IRS) earlier this month. Musk had previously hired the same law firm in his litigation with Twitter and continues to use the law firm to this day.
Now, users on Reddit are speculating that the trio may be up to something. Let’s get into the details.
Why Meme Stocks Investors Are Worried About Ken Griffin and Elon Musk
According to a post by a Reddit user, Mayo Force One — Ken Griffin’s plane — touched down in a Washington, D.C. airport before the game. Per the user, the airport is typically reserved for “high level government persons.” That has led to speculation that Griffin may have touched down to meet with Kushner. There is also speculation that he may have been traveling with Kushner or former President Donald Trump.
In addition to this, the Reddit user also notes that Musk and Kushner may have discussed a buyout of Twitter. There is a connection here, as Kushner’s father-in-law, Trump, founded competing social media platform Truth Social.
After departing his government role, the user says Kushner founded private equity firm Affinity Partners, which “derives its investments from the Saudi governments sovereign wealth fund.” As a result, the user speculates that Griffin may be going to Kushner for help due to heavy losses from shorting meme stocks like GameStop (NYSE:GME). This is highly unlikely, however.
As of the first quarter, Citadel had over $250 billion in assets under management (AUM). As of Oct. 31, its flagship fund is up an impressive 30.7% year-to-date (YTD). Citadel’s other funds have outperformed the S&P 500 as well. So, Griffin appears to be no where near needing help from anyone.
In conclusion, this Reddit post appears to just be imaginative speculation.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
