Citadel CEO Ken Griffin Criticizes NYC Mayor Mamdani's Tax Proposal, Plans Expansion in Miami
Ken Griffin, CEO of Citadel, has criticized New York City Mayor Zohran Mamdani's proposed tax on luxury properties, announcing plans to expand operations in Miami as a result.
Citadel CEO Ken Griffin has expressed strong disapproval of New York City Mayor Zohran Mamdani's recent proposal to impose a tax on luxury properties owned by non-residents. In a video released on April 15, Mamdani stood outside Griffin's $238 million penthouse to promote the 'pied-à-terre' tax, which targets properties valued over $5 million.
Griffin described the video as 'creepy and weird,' expressing concern that it could endanger his safety. He referenced the 2024 assassination of UnitedHealthcare CEO Brian Thompson in New York City, stating, 'To put any citizen in harm’s way is just inappropriate for one of our political leaders.'
In response to the proposed tax, Griffin announced plans to expand Citadel's operations in Miami. He stated that the firm has filed permits to increase the size of its new headquarters there, adding, 'We will add far more jobs in Miami over the next decade as an immediate and direct consequence of the mayor’s poor decision.'
Mayor Mamdani defended the tax proposal, emphasizing the need for tax reform to address economic disparities. He stated, 'If we want the city to be affordable, we need meaningful tax reform that includes the wealthiest New Yorkers paying their fair share.'
The proposed tax has sparked debate among business leaders and policymakers, with concerns about its potential impact on New York City's economic competitiveness and attractiveness to high-net-worth individuals.