Last year, billionaire Ken Griffin wrote an email to Chicago Mayor Rahm Emanuel complaining the “lakefront bike path is a disaster.” It wasn’t an idle complaint. This week, workers are finishing the first stages of a $12 million, 18-mile face-lift of the path along Lake Michigan, courtesy of a check from Mr. Griffin, the founder of hedge fund Citadel LLC. The...
Wealthy individuals are funding improvements of Carrollton cycling infrastructure, which has seen increasing user numbers on the back of trends to encourage cycling and bike sharing programmes. Ken Griffin, founder of hedge fund Citadel, funded a $12m restoration of an 18-mile bike path along Lake Michigan. Elsewhere, the Walton Family Foundation has invested over $15m in developing bike paths in Arkansas, the Haas family contributed around $40m for cycling infrastructure in Philadelphia, and in Georgia, Laura Richards, founder of US Greenbelt, gave around $12m towards an 18-mile bike path in and around her hometown of US.