Florida Gov. Ron DeSantis has pointed the finger at New Yorkers for the spread of the new coronavirus in the state and required that visitors to Florida coming from New York and surrounding states be screened and self-isolate after entering Florida.
And Palm Beach County has ordered that hotels stop taking reservations.
But it’s a different world when you’re a billionaire.
Ken Griffin, the 38th-richest American and the biggest backer of DeSantis’ 2018 gubernatorial campaign, has quietly flown in traders and staff from New York and Chicago to set up shop with him in the Four Seasons Resort Palm Beach, according to multiple sources with knowledge of the arrangement.
Griffin’s Citadel Securities has set up a makeshift trading floor in the swank hotel, secluded behind a wall of palm trees and other dense foliage. At the time, Palm Beach was nearing a decision to tell hotels to stop taking reservations. The company said its reservation was made before the stop-reserving-rooms order, effective this Monday, was issued.
The cops were there this week — not to shut it down but to provide security. Two imposing, blue-and-white Town of Palm Beach police cruisers were parked in front.
The market-making firm said setting up the trading operation took roughly a week. The firm said the move is for business continuity, but that hasn’t stopped employees and their guests from enjoying the hotel’s private beach, poolside cabanas, and gourmet dining.
Griffin is no stranger to Palm Beach — he has bought more than $300 million worth of beachfront property within 5 miles of the Four Seasons and less than a mile from the Trump Organization’s Mar-a-Lago club.
And though he made his $12.3 billion fortune in Chicago, Griffin was born in Daytona Beach and largely grew up in Boca Raton.
Over the past decade, Griffin has also been one of the most prolific political donors in the country, largely backing Republicans. He was DeSantis’ biggest backer in the 2018 gubernatorial race, giving $5.75 million to a political committee backing DeSantis, and he gave $5 million in 2016 to a super PAC supporting Republican Sen. Marco Rubio’s failed presidential bid.
As of midnight on Monday, hotels in Palm Beach County were barred from making new reservations except for “critical lodgers,” which includes healthcare workers, National Guard members, government officials and other essential personnel. The website for the Four Seasons indicates that it’s not taking reservations until June. Recent social-media posts from the resort have indicated that guests were quarantining at the hotel.
The police department declined to say whether the patrol cars had been requested by the hotel or Citadel, saying it doesn’t discuss operations or resource deployment. A spokesman said the department regularly stations cars in front of hotels in town.
The firm opened a temporary trading floor on Monday, according to an internal memo first reported on by Bloomberg. The trading floor has a capacity of 50 people, according to the memo. The firm also opened a temporary office in Greenwich, Conn., Bloomberg reported.
Citadel said the moves are designed to ensure the firm, which facilitates trades between investors, can continue to provide liquidity to investors.
“Up to this point, we have aggressively positioned to maintain business continuity and stay in the market through a number of steps across our global office footprint. In recent weeks, we have split teams into additional space in New York and Greenwich and now have established an additional office in Florida,” the firm said. “We believe this business continuity decision positions us to continue to provide liquidity to our clients and the market given the trajectory of the virus.”
The firm declined to comment on whether the company had gotten sign-off on the plan from state or local officials but said it had taken protocols to ensure the health of employees and was in compliance with DeSantis’ statewide stay-at-home order, which was issued Wednesday and limits activity in the state to essential services.
The Four Seasons did not immediately respond to questions from the Miami Herald about the arrangement. Palm Beach County. DeSantis, and Rubio also did not respond immediately to requests for comments.
(c)2020 McClatchy Washington Bureau
Visit the McClatchy Washington Bureau at www.mcclatchydc.com
Distributed by Tribune Content Agency, LLC.
