Apollo Global Weighs Second HQ in Austin or Miami, Putting 1,000 New York Jobs at Risk
Updated
Updated · New York Post · May 9
Apollo Global Weighs Second HQ in Austin or Miami, Putting 1,000 New York Jobs at Risk
3 articles · Updated · New York Post · May 9
Apollo Global is nearing a decision on a second headquarters in Austin, Texas, or the Miami area, a move that could shift as many as 1,000 jobs that otherwise would have stayed in New York.
Marc Rowan’s firm is weighing the move as New York finance executives grow more frustrated with Mayor Zohran Mamdani’s rhetoric and tax proposals, including a levy on non-residents’ second homes worth more than $5 million.
Ken Griffin has also criticized Mamdani’s social-media attack over the proposed pied-a-terre tax and is considering sending more jobs outside the city, underscoring broader unease among wealthy employers.
The potential relocation adds to concerns that New York could lose high-income taxpayers and corporate investment to lower-cost states such as Florida and Texas as city politics turn more hostile to capital.
With Wall Street jobs at a record high, is the 'billionaire exodus' from New York City a real threat or an overblown narrative?
Can New York's 'tax the rich' strategy fund its social programs, or will it trigger a devastating economic decline?