O’Leary warns NYC grocery plan would hit taxpayers hard
Shark Tank star Kevin O’Leary questions NYC Mayor Zohran Mamdani’s plan to open city-run grocery stores offering 30% discounts, arguing that 2–3% margins would mean losses unless taxpayers subsidize them. The city counters that private operators would stock and run the stores with subsidies to fund the discounts, with the first store planned for the Bronx and a 2027 opening target, backed by about $70 million in capital funding. Critics warn the subsidies could strain local businesses and raise costs, while supporters say lower prices would help families in need.