Hedge fund founder hits back at Mamdani's 'creepy' wealth tax video

Billionaire hedge fund founder Ken Griffin has criticized a proposed New York City wealth tax, calling a promotional video by Mayor Zohran Mamdani 'creepy and weird' and stating it signals the city does not welcome success [1]. Griffin, the founder of Citadel, made the remarks at the Milken Institute Global Conference [1]. He said the video, filmed outside his $238m penthouse—the most expensive apartment ever purchased in the U.S.—prompted him to focus his business growth on Miami instead of Manhattan [1]. Mayor Mamdani's video promotes a new 'pied-à-terre' tax, an annual fee on city properties valued over $5m, which is projected to raise at least $500m [1]. Mamdani has argued that raising taxes on the wealthy could generate up to $9bn for city programs [1]. In response, Mamdani's press secretary, Joe Calvello, stated the mayor wants all New Yorkers to succeed but that 'our tax system is fundamentally broken' and the status quo 'rewards extreme wealth' [1]. Griffin warned the rhetoric posed security risks, citing the nearby fatal shooting of UnitedHealthcare CEO Brian Thompson [1].