Summary
John Catsimatidis, a wealthy owner of grocery stores in New York City, is considering moving his business to Florida after Zohran Mamdani was elected mayor. Catsimatidis is concerned about Mamdani's plan to introduce city-run grocery stores, which he believes could hurt private businesses. These new stores would not pay rent or taxes, which could give them an advantage over private competitors.
Key Facts
- John Catsimatidis is a billionaire with a net worth of $4.8 billion and owns Red Apple Group.
- Zohran Mamdani, the new mayor of New York City, plans to start city-run grocery stores to help reduce grocery costs.
- These city-run stores would not pay rent or property taxes, allowing them to sell groceries at lower prices.
- Catsimatidis is thinking about moving his business to Florida due to these new policies.
- He previously threatened to move to New Jersey but stayed after a new governor was elected.
- Business leaders in New York worry these policies could push companies out of the city, affecting jobs and services.
- Catsimatidis also expressed concerns about increased shoplifting and reduced profits in his stores.
- President Donald Trump commented on the situation, stating that Mamdani wants to take over Catsimatidis's grocery stores.
