Trump Warns Mamdani Over 2nd-Home Tax Plan as Griffin Threatens Bigger Miami Tower
Updated
Updated · Bloomberg · May 12
Trump Warns Mamdani Over 2nd-Home Tax Plan as Griffin Threatens Bigger Miami Tower
4 articles · Updated · Bloomberg · May 12
Donald Trump said New York cannot afford to lose business leaders like Ken Griffin and urged Mayor Zohran Mamdani to do more to keep the Citadel founder satisfied.
Mamdani’s pledge to raise taxes on second homes sparked the clash after he singled out Griffin by name, turning a local tax proposal into a broader fight over New York’s business climate.
Ken Griffin responded by vowing to make Citadel’s planned Miami tower even larger, underscoring the risk that high-profile financiers could keep shifting investment and influence out of New York.
The dispute now links Mamdani’s tax agenda to a wider political argument over whether tougher levies on wealthy property owners could accelerate a business exodus from the city.
Is Ken Griffin's Miami move a personal feud or the start of a billionaire exodus from New York?
Can New York's 'tax the rich' plan fund city needs without losing its biggest economic engines?
Will NYC's new tax on second homes fix its budget or just crash the luxury property market?