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Apollo Global Considers Relocating HQ Over NYC Tax Hike

3/30/2026

Summary

Story summary

Apollo Global Management is weighing relocation of its headquarters from New York City to the Sunbelt due to Mayor Zohran Mamdani's proposed corporate tax increases.
The firm, valued at $900 billion, is exploring options in Texas and Florida, both without personal income tax.
Mamdani's proposed tax plan aims to address a $5.4 billion budget shortfall.
Wall Street executives warn that higher taxes could drive businesses away and worsen affordability.

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Story summary

Apollo Global Management is weighing relocation of its headquarters from New York City to the Sunbelt due to Mayor Zohran Mamdani's proposed corporate tax increases.
The firm, valued at $900 billion, is exploring options in Texas and Florida, both without personal income tax.
Mamdani's proposed tax plan aims to address a $5.4 billion budget shortfall.
Wall Street executives warn that higher taxes could drive businesses away and worsen affordability.