Ken Griffin’s $3 Billion Miami Donation Exposes New York’s Anti-Business Climate
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Citadel founder Ken Griffin’s $3 billion pledge to Carnegie Mellon for a Miami campus has alarmed New York business leaders, who see the move as a direct result of the city’s punitive tax policies and hostility toward wealth creators.
Citadel CEO Ken Griffin has announced a monumental $3 billion donation to Carnegie Mellon University, including $2 billion for a 35-acre campus in Miami and $1 billion for the university’s Pittsburgh campus. Notably, Carnegie Mellon’s New York campus was left out, a decision that has sent shockwaves through the city’s business community, which is already grappling with the consequences of anti-business policies.
Steve Fulop, president of Partnership for New York City, told 77 WABC that the donation represents “a loss for us,” pointing to the fact that Griffin’s philanthropic dollars are flowing to Miami instead of New York. This shift is a clear signal that the city’s relentless push for higher taxes and overregulation is driving away top talent and capital. Fulop noted that major firms like Citadel, Goldman Sachs, JPMorgan, and Apollo are increasingly attracted to states that respect business and offer a more welcoming environment.
The debate comes as Mayor Zohran Mamdani aggressively pushes a punitive pied-à-terre tax targeting high-value secondary residences. Mamdani even filmed a video in front of Griffin’s $238 million Central Park South property, shamelessly vilifying success and wealth. The tax, which would hit second-home owners and certain multi-family properties, was thankfully halted after a state Supreme Court judge found the city had improperly disclosed the names of over 900,000 residents. City officials, however, are appealing, signaling their intent to continue their war on property owners and job creators.
Fulop also cited disturbing reports that city officials have tried to use influencers to attack business leaders, calling such tactics “beyond the pale.” He stressed the importance of vigilance and ongoing dialogue to defend New York’s economic future against destructive policies.