Citadel, the hedge fund run by billionaire Ken Griffin, reported a record $16 billion in profit last year — knocking off Ray Dalio’s Bridgewater as the most successful firm seven years running. The Miami-based investing giant, which manages $54 billion in assets, reported a 38.1% return on its main hedge fund, according to the Financial Times, which cited research by LCH Investments, a subsidiary of European-based investment house Edmond de Rothschild. LCH Investments reported that Citadel’s total gross trading profit last year amounted to $28 billion. Investors were charged around $12 billion in expenses and performance fees, according to FT.