Mayor Mamdani Stands Firm on Taxing the Wealthy Amid Hedge Fund CEO’s Concerns

New York City’s Mayor Zoran Mamdani reaffirmed his commitment to taxing the wealthy, following hedge fund CEO Ken Griffin’s remarks about possibly investing in Miami instead.

During a press conference on Wednesday, reporters inquired about Mamdani’s discussions with Griffin, especially after the mayor released a video featuring Griffin’s luxurious penthouse. The video had caught Griffin’s attention, and he labeled it “creepy” and “weird.”

A reporter pointed out Griffin’s criticisms, saying, “He called your video creepy and weird, claiming it was unfairly targeting him. He mentioned he would focus his investments in Florida.” The reporter wanted to know what conversations Mamdani had with Griffin after that video and expressed concern regarding potential job losses in New York.

“My goal is for all New Yorkers to thrive,” Mamdani responded. “This includes the business owners and entrepreneurs who generate quality jobs and help drive the economy. Yet, our tax system remains fundamentally flawed. It tends to reward extreme wealth while leaving working-class individuals struggling.”

Mamdani asserted that for New York City to be a place where working individuals can truly reside, “we require substantial tax reform that ensures the wealthiest residents contribute their fair share.”

Earlier reports indicated that Griffin was contemplating withdrawing from a $6 billion project in New York City, which promised about 6,000 high-wage construction jobs.

Gerald Beeson, COO of Citadel LLC, expressed that it was “shameful” for the mayor to mention Griffin in the video, commenting that it was wrong to use his name as an example of individuals not paying their fair share.

During the Milken Global Conference, Griffin suggested that Mamdani had made it clear to his New York associates that they needed to invest more heavily in Miami. He shared, “When we moved from Chicago, we considered both New York and Miami. It’s undeniable we made the right decision.” Griffin added, “What the New York mayor has communicated to my partners is that we should double down on our investments in Miami, as we aim to welcome business, education, and personal freedom—essentially, the American Dream. We don’t want a system where people are dependent on government support.”