Hedge fund founder hits back at Mamdani's 'creepy' wealth tax video
Summary
New York Mayor Zohran Mamdani supports a new tax on very expensive properties owned by people who do not live in the city. Billionaire Ken Griffin, who owns the most expensive apartment in New York, criticized Mamdani’s video promoting the tax and said it makes the city less welcoming to successful business people.Key Facts
- Zohran Mamdani is the mayor of New York City.
- Mamdani posted a video promoting a new luxury property tax aimed at homes worth over $5 million.
- The tax is expected to raise at least $500 million annually.
- Ken Griffin is the founder of Citadel and owns a $238 million penthouse in New York, the most expensive apartment bought in the U.S.
- Griffin called Mamdani’s video “creepy” and said it hurts the city’s appeal to successful people.
- Griffin plans to focus his business growth more in Miami instead of New York.
- Mamdani’s team says the mayor supports business owners but believes the current tax system is unfair.
- Mamdani also wants to increase the city’s corporate tax rate from 7.25% to 11.5%.
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