Billionaire pledges millions of dollars to fight against legalizing marijuana in Florida

A billionaire hedge-fund manager donated $20 million to help defeat a proposed state constitutional amendment that would legalize recreational marijuana in Florida.

Ken Griffin, founder and CEO of the firm Citadel, announced his contribution in a recent opinion piece for the Miami Herald. He categorized the proposed amendment as dangerous and “a terrible plan to create the nation’s most expansive and destructive marijuana laws.”

“I have donated $20 million in support of candidates and to oppose Amendment 3, a terrible plan to create the nation’s most expansive and destructive marijuana laws.” Griffin declared in his opinion piece. 

The proposed legislation, known as Amendment 3, would legalize the use of recreational marijuana in the Sunshine State for individuals 21 years of age or older. It would also authorize existing medical marijuana treatment facilities throughout the state to sell marijuana to people of legal age. Florida voters will have the opportunity in the November election to vote whether they support or oppose the initiative. 

If left up to Griffin, Amendment 3 would be rejected. He cited the dangers associated with using marijuana. 

“I take great pride in being a Floridian. I was born here. I graduated from public high school here.” Griffin wrote in his essay. “And thanks to the thoughtful policies that Floridians have supported for decades, with great enthusiasm, my colleagues and I moved our business and our families to Florida. I know without a doubt that Florida is the brightest state in America, brimming with opportunity, optimism, and principled policies. I’m committed to doing my part to ensure our state’s continued leadership and empower Floridians from all walks of life.”

“Passage of Amendment 3 would create a monopoly for large marijuana dispensaries and permit pot use in public and private areas throughout Florida,” Griffin wrote. “That will help no one other than special interests — and it will hurt us all, especially through more dangerous roads, a higher risk of addiction among our youth, and an increase in crime.”

Griffin explained that passing Amendment 3 would be detrimental to Florida’s progress in recent years and jeopardize the quality of life that Floridians enjoy. He highlighted the state’s booming economy and education system in his article. He then theorized that the passage of Amendment 3 would threaten those good fortunes, ultimately leading to “a decline in the quality of life in Florida’s vibrant neighborhoods.”