Are you sure?
Citadel Securities brought in $1 billion of earnings before interest, taxes, depreciation and amortization last quarter and $4.1 billion for the year, also a record.
The firm, which is 85% owned by Griffin according to the Bloomberg Billionaires Index, also paid out $1.9 billion in equity distributions last year. Griffin has a net worth of $21.4 billion, according to the ranking, making him the 28th-richest person in the U.S.
It depends on what their total short position is. They are exposed to unlimited downside exposure. When the month ends, whatever the GME close is, they are on the hook for 140% of the stock (which is both absurd and true).
If the price is anywhere close to $300, then they are looking at around $20B based on a float of 45M shares (add 40 percent on to that).
Government Sachs is worried and talking systemic risk today, so . . .