A huge team of scientists helped Citadel generate $8 billion from commodities bets in 2022
Traders at the firm were also encouraged to keep potentially risky positions, and Citadel chief Ken Griffin was known to allow traders to take on more risk when he saw a good trading opportunity, the report said.
Overall, sources say Citadel pulled in $7 billion-8$ billion in commodity trades over 2022, about half of the firm's overall profits. The hedge fund raked in a record $16 billion last year, surging past Ray Dalio's Bridgewater, which held the title as the most successful hedge fund for seven running years, according to LCH Investments.
With massive profits come massive bonuses for the firm's traders. Insiders said Citadel doled out tens of millions of dollars, and top traders at the firm could get up to $100 million this year, the report said.
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