Mayor Reflects on Tax Video and Criticism of Ken Griffin
Mayor Zoran Mamdani expressed some regret on Friday regarding a viral video that dragged billionaire Ken Griffin into the spotlight concerning a proposed pied-a-terre tax.
When asked if he regretted singling out Griffin during a video shot outside a 24,000-square-foot property on Central Park South—which Griffin purchased for $238 million in 2019—Mamdani hesitated. He cited the property’s status as “the most expensive house in the United States” at the time of its sale.
During a separate news conference in Brooklyn, he explained, “In a political climate where every tax hike is framed as affecting everyone, we aimed to clarify that this matter targets a very select group of assets.”
This incident marks another chapter in Mamdani’s contentious dialogue with Griffin, which began with a striking video on April 15 where he declared, “Today we’re taxing the wealthy.” In it, he highlighted Griffin’s Manhattan penthouse as a targeted property under Governor Kathy Hochul’s proposed tax for multi-million dollar secondary homes in New York City.
Griffin, however, was not pleased. The Citadel CEO responded to Mamdani’s remarks in a company-wide message, hinting at the possibility of withdrawing from a $6 billion development initiative in Midtown.
“The mayor’s comments suggest he believes individuals like these aren’t contributing sufficiently to the common good,” wrote Gerald Beeson, Citadel’s Chief Operating Officer, in a letter obtained by the Post. He criticized the mayor for using Griffin as an example of those evading their fair share of New York City’s costly and often inefficient expenditures.
Beeson admonished the mayor, stating that Mamdani’s remarks reveal the disconnect of the elite political class from those who have played vital roles in building New York City.
He also mentioned the potential halt of Citadel’s redevelopment project at 350 Park Avenue, which he claims would create 6,000 construction jobs and over 15,000 permanent roles.
When questioned about Citadel possibly retracting its plans, Mamdani didn’t address the matter directly. Instead, he expressed a desire for all New Yorkers, including Griffin, to thrive. “I want New Yorkers to succeed in business, boost the economy, and provide good jobs. Ken Griffin is crucial to that,” he remarked.
He added, “I will keep collaborating with business leaders like him to develop cities that serve as economic engines for both the state and the country.” He briefly shifted the conversation to what he termed the “fundamentally broken” tax system in the U.S.
When asked again if he regretted mentioning Griffin’s name and if he aimed to meet with him, Mamdani only indicated openness to discussions with various city business leaders.
“We all want this city to succeed,” he concluded, stressing his commitment to balancing the budget by asking profitable companies—like Griffin’s—to contribute a little more, so that everyone can afford to live in the city.
Upon being pressed about if he regretted his previous comments in light of a separate tragedy involving another executive, Mamdani noted the reporter’s increasing reluctance to mention Griffin directly since the video’s release.
The mayor reiterated a focus on a “very select group of assets” subject to the proposed tax, stating, “This bill wasn’t aimed at any individual, it’s a broader initiative.” He further recalled other high-profile purchases, emphasizing the intention of the proposals to have limited impact while encouraging taxable residents to remain in New York City.
