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Ken Griffin

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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
Texas courts NYC firms as Mamdani's wealth critique rattles Wall Street
politics15 days ago

Texas courts NYC firms as Mamdani's wealth critique rattles Wall Street

Texas Gov. Greg Abbott welcomes New York companies relocating or expanding to Texas, touting the state’s no income tax and pro-growth climate, as New York City Mayor Zohran Mamdani faces backlash for criticizing Ken Griffin’s wealth. The article notes Texas has surpassed New York in financial-sector employment and JPMorgan Chase now employs more people in Texas than in New York, with Griffin and Apollo threatening to shift operations outside NYC after Mamdani’s backing of a pied‑à‑terre tax. A White House adviser says Mamdani’s anti‑corporate rhetoric could help Republicans in 2028, while Democrat Paterson urges resilience for NYC’s business community; Abbott’s border actions, including migrant relocations to sanctuary cities, are mentioned to illustrate broader political dynamics.

via New York Post|
#abbott#ken-griffin#politics
Mamdani's pied-à-terre tax exposes NYC's broader property-tax flaws
business19 days ago

Mamdani's pied-à-terre tax exposes NYC's broader property-tax flaws

New York City Mayor Zohran Mamdani’s plan to tax luxury second homes—illustrated by Ken Griffin’s $238 million penthouse—highlights a broader fight over NYC's property taxes. Analysts note the policy would only address a symptom of the system, which undervalues high-end condos while overtaxing renters, and could raise roughly $500 million annually with many second homes valued well above reality. Gov. Hochul has resisted larger wealth taxes, so Mamdani's move is a small step toward his broader agenda rather than a comprehensive reform.

via CNN|
#business#ken-griffin#mamdani
Billionaire pushback as Mamdani touts NYC wealth tax plan
politics20 days ago

Billionaire pushback as Mamdani touts NYC wealth tax plan

New York City Mayor Zohran Mamdani’s plan to tax luxury second homes worth more than $5 million has sparked strong pushback from billionaires, including Ken Griffin and Steven Roth. Roth called Mamdani’s “tax the rich” slogan as hateful as racial slurs, while Griffin described the campaign video outside his penthouse as “creepy and weird.” Griffin’s remarks come as Citadel signals possible relocation of expansion plans to Miami. Proponents say the pied-à-terre tax could raise around $500 million annually from about 11,200 second homes to help reform a tax system the mayor deems unfair; opponents warn the wealthy may flee. The debate mirrors broader battles over wealth taxes in other states and cities.

via CNN|
#ken-griffin#mamdani#pied-a-terre-tax
Vornado CEO equates 'tax the rich' with slurs, champions the 1%
business20 days ago

Vornado CEO equates 'tax the rich' with slurs, champions the 1%

On a Vornado Realty Trust earnings call, Steve Roth said the phrase 'tax the rich' is as hateful as racial slurs and argued the top 1% drive New York’s economy and taxes; he defended Ken Griffin against mayor Mamdani’s Pied-à-terre tax critique, noted Vornado paid about $560 million in real estate taxes, and suggested Griffin could help back like-minded candidates to grow the tax base.

via The Guardian|
#business#ken-griffin#pied-a-terre-tax
Griffin says Mamdani's wealth-tax campaign video endangered him
politics20 days ago

Griffin says Mamdani's wealth-tax campaign video endangered him

Billionaire Ken Griffin says NYC Mayor Zohran Mamdani's video portraying him as a poster child for taxing the rich — including showing where he lives — put him in harm's way, citing the murder of a CEO to argue risk to investors as he weighs a reported $6 billion NYC project. Mamdani did not publicly address the safety claim, while a mayoral spokesperson defended tax reform that includes the wealthy and pledged to help business growth; Griffin's project future remains undetermined.

via CBS News|
#campaign-video#ken-griffin#new-york-city
Mamdani’s viral poke outside Griffin’s penthouse rattles Vornado’s Park Avenue plans
business21 days ago

Mamdani’s viral poke outside Griffin’s penthouse rattles Vornado’s Park Avenue plans

New York Mayor Zohran Mamdani posted a viral video outside Ken Griffin’s penthouse criticizing the billionaire, prompting Vornado Realty Trust chair Steve Roth to call the stunt an ugly, unnecessary blunder on an earnings call. Roth warned the video could threaten Griffin’s involvement in a planned $4.5 billion Park Avenue tower with Vornado and Rudin, though he still expects the project to proceed despite the controversy.

via New York Post|
#business#ken-griffin#mamdani
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
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
NYC Eyes Pied-à-Terre Tax Targeting Ultra-Rich Buyers
business1 month ago

NYC Eyes Pied-à-Terre Tax Targeting Ultra-Rich Buyers

New York City and state officials proposed a pied-à-terre tax on non-primary homes over $5 million, aiming to raise about $500 million a year by tapping properties owned by non-residents or via trusts; the plan would affect high-profile owners including Jeff Bezos and Donald Trump, with critics warning it could drive investment away and details like valuation and residency would be determined later.

via Business Insider|
#billionaires#business#ken-griffin
CNBC anchor blasts Mamdani for filming outside Ken Griffin’s penthouse to push pied-a-terre tax
politics1 month ago

CNBC anchor blasts Mamdani for filming outside Ken Griffin’s penthouse to push pied-a-terre tax

A CNBC anchor criticized NYC Mayor Zohran Mamdani after he filmed a segment outside hedge-fund billionaire Ken Griffin’s $238 million penthouse to promote a pied-à-terre tax, arguing that demonizing Griffin could backfire since he contributes jobs and investment in NYC. The piece outlines the proposed tax on luxury second homes owned by non-full-time residents and situates Griffin’s recent business moves (including relocation considerations and real estate investments) within a broader debate about policy, crime, and the city’s economic climate.

via New York Post|
#ken-griffin#new-york-city#pied-a-terre-tax