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Citadel

All articles tagged with #citadel

Bezos Backs NYC Luxury-Home Tax, Pushes Back on Singling Out Griffin
business6 days ago

Bezos Backs NYC Luxury-Home Tax, Pushes Back on Singling Out Griffin

Jeff Bezos publicly supports Mayor Mamdani's pied-à-terre tax on New York City properties valued over $5 million that aren’t primary residences, arguing such taxes can be reasonable if applied judiciously. He also pushed back against criticisms that singled out Citadel CEO Ken Griffin, saying Griffin isn’t a villain. Bezos noted he would be affected since he owns NY properties but lives in Florida. The tax originated with Gov. Hochul and was later backed by Mamdani, and it remains subject to legislative approval amid broader opposition.

via Business Insider|
#business#citadel#jeff-bezos
Mamdani's 'Godfather' stunt outside Griffin's penthouse sparks Paterson rebuke
politics1 month ago

Mamdani's 'Godfather' stunt outside Griffin's penthouse sparks Paterson rebuke

New York City Mayor Zohran Mamdani faced sharp criticism from former Gov. David Paterson for a publicity video outside hedge-fund titan Ken Griffin's Manhattan residence to back Kathy Hochul's pied-à-terre tax; Paterson called the stunt Godfather-like and warned it could be dangerous amid political tensions. Citadel signaled it might drop its $6 billion Midtown development in response, and watchdogs questioned whether the tax would raise the projected $500 million in revenue.

via New York Post|
#citadel#kathy-hochul#ken-griffin
Citadel Pushback: Mamdani's Targeting of Griffin Prompts NYC Redevelopment Pause Hint
politics1 month ago

Citadel Pushback: Mamdani's Targeting of Griffin Prompts NYC Redevelopment Pause Hint

New York City Mayor Zohran Mamdani targets Ken Griffin with a pied-à-terre tax on non-primary homes over $5 million, prompting a Citadel memo that calls the move 'shameful' and hints the firm could pause its $6 billion redevelopment of 350 Park Avenue, a project expected to create thousands of construction and permanent jobs. Griffin, a major GOP donor who moved Citadel’s HQ to Miami, has long supported NYC through taxes and philanthropy; the memo defends Citadel's contributions while noting the potential economic impact of delaying the project.

via Business Insider|
#citadel#griffin#mamdani
Penthouse spotlight fuels clash over NYC second-home tax plan
us-politics1 month ago

Penthouse spotlight fuels clash over NYC second-home tax plan

New York City mayor Zohran Mamdani pushes a pied-à-terre tax on homes valued above $5 million to fund childcare and reduce the city’s deficit, a plan that would affect about 13,000 properties. Ken Griffin’s hedge fund Citadel hit back in a memo, accusing Mamdani of ignorance and disdain and noting Mamdani filmed outside Griffin’s $238 million Central Park penthouse to underscore his campaign. Citadel says the tax is short-sighted despite its own significant tax contributions and redevelopment plans in the city; Mamdani has said he’s not anti-business and aims to balance needs with revenues. Citadel declined to comment.

via Financial Times|
#citadel#ken-griffin#new-york-city
Bondholders Urged to Fund Spirit’s Turnaround to Save South Florida Jobs
business4 months ago

Bondholders Urged to Fund Spirit’s Turnaround to Save South Florida Jobs

Spirit Airlines remains in Chapter 11 as frontline workers have already sacrificed about $100 million in concessions; ALPA leaders are urging major bondholders—including Citadel—to fulfill funding commitments so the restructuring can proceed and Spirit can emerge as a going concern, warning that liquidation would devastate thousands of South Florida jobs and harm the regional economy and air travel competition.

via ALPA|
#alpa#bankruptcy#bondholders
Ken Griffin's Vision Beyond Wall Street and Citadel
politics9 months ago

Ken Griffin's Vision Beyond Wall Street and Citadel

Ken Griffin, founder of Citadel, is leveraging his wealth and influence to shape American society through philanthropy and public engagement, emphasizing values like innovation and meritocracy, while maintaining a nonpartisan stance despite significant political donations. His initiatives aim to bolster national pride, education, and community development, potentially positioning him for future political roles.

via Business Insider|
#america#citadel#ken-griffin
Ken Griffin Exits Chicago, Sells Properties at Significant Loss
real-estate1 year ago

Ken Griffin Exits Chicago, Sells Properties at Significant Loss

Billionaire Ken Griffin has sold his unfinished penthouse at Chicago's No. 9 Walton for $19 million, incurring a 44% loss from his 2017 purchase price of $34 million. This sale is part of Griffin's broader exit from Chicago, following Citadel's headquarters move to Miami and other property sales. The significant markdown highlights struggles in Chicago's luxury real estate market, which Griffin attributes to poor city governance. Despite the losses, Griffin continues to invest in real estate in cities like New York and Miami.

via New York Post |
#chicago#citadel#ken-griffin