Full Breakdown
Mayor Zohran Mamdani Launches New Business Advisory Council
8/27/2026, 8:33:11 PM
Council Launch
Mayor Zohran Mamdani announced the formation of a 15-member Business Advisory Council that will meet quarterly with the mayor and Deputy Mayor for Economic Justice Julie Su. The council is intended to advise on economic development across finance, technology, life sciences, real estate, sports, entertainment, retail and healthcare. Members will include CEOs and leaders from Chobani, Healthfirst, RXR, AlleyCorp, Steiner Studios and other prominent firms.
Background & Context
The council’s creation follows months of controversy over Mamdani’s “pied-à-terre” tax, a levy aimed at high-value secondary residences. A promotional video that featured Citadel founder Ken Griffin’s Manhattan home sparked backlash from Griffin and Amazon founder Jeff Bezos. Despite the dispute, the mayor’s office highlighted strong employment figures: the New York City Economic Development Corporation reported 4,852,400 jobs in the five boroughs as of July 2026, with more than 6,000 private-sector jobs added in the first half of the year and an unemployment rate hovering around 5 percent.
Official Statements & Responses
Deputy Mayor Julie Su noted that the advisory body will help align private-sector insights with the administration’s affordability agenda. Council member Scott Rechler, chair and CEO of RXR, said the mayor’s team has been “constructive and responsive partners” and expressed eagerness to contribute candid input.
Criticism & Opposition
Business leaders Ken Griffin and Jeff Bezos also criticized the pied-à-terre tax, labeling Mamdani’s approach as antagonistic toward billionaires.
Verbatim Quotes
- “The doors of City Hall are always open to New York’s business leaders, and I look forward to welcoming their experience and strategic guidance as we build a stronger, more dynamic economy,” — Caption Hide Caption Mamdani, city's benefit mayor
- “I don't understand why he thinks it's OK for all these companies that pay hundreds of millions of dollars in taxes a year to leave,” — Donald Trump, particularly with president
- “Sadly, Mayor Mamdani is DESTROYING New York! It has no chance! The United States of America should not contribute to its failure,” — Donald Trump, particularly with president
- “This council brings together the people building the next generation of New York’s economy — in finance, tech, life sciences and beyond — to help us double down on what makes this city the best place on Earth to start a company, grow a business and build a career,” — Caption Hide Caption Mamdani, city's benefit mayor
- “Since Mayor Mamdani took office, I have found him and his team to be constructive and responsive partners,” — RXR’s Rechler
