Griffin Donates $1 Million to Miami Pediatric Hospital

Ken Griffin, a well-known philanthropist, has donated $25 million to a Miami hospital that specializes in pediatric care. This is his single largest gift to a nonprofit in his newly adopted state of Florida.

The funds will help the Nicklaus Children’s Hospital complete a new building with high-tech operating rooms and spaces for families, the hospital said in a statement Tuesday. The new wing, which will be called the Kenneth C. Griffin Surgical Tower, is expected to open in 2024 and will be 127,000 square feet (11,800 square meters).

This gift is one of the first from Griffin for health care in Florida, where he moved his family and the headquarters of hedge fund Citadel and market maker Citadel Securities last year from Chicago. The billionaire's presence in Miami could have a significant impact on the region, which has seen an influx of new residents in recent years.

"Nicklaus Children's Hospital is a world-renowned leader in pediatric healthcare," said Griffin. "The hospital's team of talented doctors and nurses are dedicated to providing the best possible care to every child."

The 309-bed hospital, named for golfing great Jack Nicklaus and his wife Barbara, gave $60 million to the facility in 2015. The hospital now serves almost 500,000 pediatric patients a year, 70% of whom are insured by Medicaid.

Griffin has been a frequent donor to nonprofits in South Florida. In 2018, he gave $20 million to the Norton Museum of Art for a new building designed by Norman Foster. Griffin has also pledged $8 million to the Cox Science Center and Aquarium in West Palm Beach, $5 million to launch the Miami Disaster Resiliency Fund and joined with Miami-Dade County and the Knight Foundation to start the Innovation Authority, which engages startups in community issues.

Still, he has only just begun to make a philanthropic impact in the region. In Chicago, where he lived for around 30 years, he gave away more than $650 million in total, including $16 million for the Lurie Children's Hospital in 2010. His net worth is estimated at $29.4 billion by the Bloomberg Billionaires Index.

At the Nicklaus Children's Hospital, Griffin's gift will also support treatment for cancer and blood disorders, neurological and cardiac conditions, and orthopedics.

“Every child deserves the best possible care, and they shouldn't have to leave Florida to get it,” said Matthew Love, chief executive officer of Nicklaus Children’s Health System, the hospital’s parent organization. “Our goal is to raise the level of pediatric healthcare in South Florida so that no child has to leave for treatment.”