Allies of former President Trump are preparing for a significant confrontation with hedge fund billionaire Ken Griffin at the upcoming Milken Institute Global Conference in Los Angeles, dubbed the “Davos of the West.” This year’s event is particularly notable as it will unfold against the backdrop of intense criticism from Griffin, the Citadel chairman, regarding Trump’s economic policies.
The Milken Institute event, featuring high-profile guests and a posh atmosphere, typically includes a lavish reception hosted by Griffin at the Beverly Hilton. However, in a strategic move, Trump advisor Richard Grenell is organizing a rival reception at the Peninsula Beverly Hills during the same time, highlighting a divide among financial elites regarding economic direction.
Grenell’s invite-only gathering will feature remarks from Treasury Secretary Scott Bessent and is expected to host select heads of state and Wall Street executives. Sources reveal that this rival event emerged following Griffin’s public critiques of Trump’s trade policies, which he argues undermine America’s economic reputation. Griffin has voiced concerns over the “tarnish” on the American brand due to proposed tariffs that he claims would amount to a tax increase on hardworking families.
Steve Bannon, former chief strategist to Trump, emphasized the nature of the upcoming confrontation, framing it as a clash between nationalists and globalists. He criticized Griffin as being “out-of-touch,” while his allies assert that the administration should prioritize economically sound policies that benefit all Americans, rather than just a select few.
Despite the tension, the Milken Institute Global Conference aims to pursue market-driven solutions to societal challenges, with guest speakers including former First Lady Jill Biden. Attendees are expected to engage in discussions that could shape both economic policies and social issues. The conference also promises wellness activities, reflecting a more holistic approach to addressing the pressures of today’s business environment.
This gathering represents a significant moment for both factions as they navigate differing visions for America’s economic future. While the stakes are high, the event also serves as an opportunity for dialogue among influential leaders in shaping policies that could benefit a broader demographic. The outcome of this rivalry may have lasting implications for both the political landscape and corporate affiliations moving forward.