Ken Griffin, the billionaire founder of hedge fund Citadel, has criticized New York City Mayor Zohran Mamdani for a video promoting a new tax on luxury properties. The video was filmed outside Griffin's $238 million penthouse at 220 Central Park South and singled him out by name as an example of the wealthy who could be affected by the proposed pied-à-terre tax.
Key Takeaways
Ken Griffin criticized NYC Mayor Zohran Mamdani for a video promoting a new tax on luxury properties. The video was filmed outside Griffin's $238 million penthouse and singled him out by name.
- Ken Griffin calls Mamdani's video 'creepy' and 'frightening'
- Citadel considers scaling back NYC expansion, doubling down in Miami
- Mamdani defends tax as necessary for working New Yorkers
- Video sparks debate over wealth taxes and business flight from NYC
Griffin called Mamdani's video 'creepy' and 'frightening,' saying it put his life in danger. He referenced the assassination of UnitedHealthcare CEO Brian Thompson near his penthouse, stating that such rhetoric can incite extremists on either side of the political spectrum (Source: CBS News). Griffin also mentioned that Citadel is considering scaling back its planned $6 billion redevelopment project in Midtown Manhattan and doubling down on its expansion in Miami.
Mamdani defended his tax proposal, stating that it targets those who store their wealth in New York City real estate but do not live there full-time. He argued that the city's current tax system is 'fundamentally broken' and rewards extreme wealth while working people are pushed to the brink (Source: BBC). The proposed pied-à-terre tax aims to raise at least $500 million annually for the city.
The dispute has sparked a broader debate over wealth taxes and whether they drive business leaders out of New York. Griffin's comments come amid tensions between progressive ambitions in major cities and financial leaders who help drive their economies (Source: Fox News). Mamdani's office did not immediately respond to requests for comment on the matter.
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