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Ken Griffin adds Miami jobs amid NYC tax-the-rich attack

5/7/2026

Summary

Griffin Expands Miami

Citadel CEO Ken Griffin announced new Miami jobs after NYC Mayor Zohran Mamdani’s “tax the rich” video targeting Griffin’s $238 million penthouse.
Griffin told CNBC he will double down on expanding the Miami headquarters, calling the video creepy.
The pied-à-terre tax could cut 2,700 finance jobs and $168 million in NYC tax revenue.
Citadel has paid nearly $2.3 billion in taxes over five years and directed $650 million in charitable gifts.

Summary

Roth Slams Tax

Steven Roth of Vornado called the phrase “tax the rich” hateful as racial slurs and the antisemitic chant “from the river to the sea.”
Steven Roth described Mayor Zohran Mamdani’s video targeting Ken Griffin as personal and unnecessary, warning it threatens affluent New Yorkers’ safety.
Governor Kathy Hochul supported the pied-à-terre tax while saying she welcomes any business that brings jobs to the state.

Summary

Griffin Criticizes Illinois

Griffin said the mayor’s video revived trauma from Chicago, where his apartment floor had 25 bullet holes and nearby homicides.
He claimed recruiting to Illinois is impossible because families fear carjackings and looting.
He noted his pandemic-era move to Miami was driven by frustration with state leadership and security concerns.
He cited Mark Zuckerberg, Sergey Brin and Jeff Bezos buying Florida property as proof the state feels safer for wealthy families.

History

Historical Context

After Bill de Blasio’s 2019 attempt to tax luxury pied-à-terre units was blocked, New York’s housing debate resurfaced in 2026 when Mayor Zohran Mamdani and Governor Kathy Hochul announced a tax on second homes over $5 million, projected to generate over $500 million a year. The proposal revives concerns that high-income residents may shift investments elsewhere.

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Griffin Expands Miami

Citadel CEO Ken Griffin announced new Miami jobs after NYC Mayor Zohran Mamdani’s “tax the rich” video targeting Griffin’s $238 million penthouse.
Griffin told CNBC he will double down on expanding the Miami headquarters, calling the video creepy.
The pied-à-terre tax could cut 2,700 finance jobs and $168 million in NYC tax revenue.
Citadel has paid nearly $2.3 billion in taxes over five years and directed $650 million in charitable gifts.

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