Citadel founder Ken Griffin is escalating his feud with New York City\u2019s mayor across the Atlantic, announcing Tuesday he will bypass City Hall and meet directly with Gov. Kathy Hochul later this week to discuss the state\u2019s economic climate.<\/p>\n
Speaking at a global financial summit in Oslo, the 57-year-old hedge fund executive \u2014 worth an estimated $50.5 billion \u2014 ripped Mayor Zohran Mamdani for using his $238 million Manhattan penthouse as the focal point in a campaign for a new luxury real estate tax.<\/p>\n
Ken Griffin\u2019s Citadel\u00a0hedge fund has objected\u00a0to Mayor Zohran Mamdani\u2019s attempt to use\u00a0Griffin\u2019s name in his push to tax \u200bindividuals from outside the state who own New York City residences. REUTERS<\/p>\n
\u201cWhat upset me was the personal attack,\u201d Griffin said Tuesday during a panel discussion at the Norges Bank Investment Management conference in Oslo. \u201cI think the willingness of a mayor of New York to make this a policy debate a personal attack, just demonstrated a profound lack of judgment.\u201d<\/p>\n
Earlier this month, Hochul\u00a0proposed a new tax\u00a0on second homes worth over $5 million<\/a> that was backed by Mamdani. The so-called pied-\u00e0-terre tax is aimed at supporting Mamdani\u2019s efforts to close New York City\u2019s budget gap.<\/p>\n The public rift ignited on Tax Day, April 15, when Mamdani, a Democratic socialist, released a video<\/a>\u00a0titled, \u201cHappy Tax Day, New York. We\u2019re taxing the rich\u201d that he shot in front of\u00a0Griffin\u2019s penthouse<\/a> at 220 Central Park South on Billionaires\u2019 Row. <\/p>\n Gov. Kathy Hochul\u00a0proposed a new tax\u00a0on second homes worth over $5 million that was backed by Mamdani.<\/p>\n \u201cHere\u2019s the real question: Is New York going to put their fiscal house in order and run itself from a position of strong government that\u2019s pro-business?\u201d Griffin asked the Norwegian audience. \u201cWhy do Americans think we can do socialism? We have none of that in our DNA.\u201d\u201d<\/p>\n The chief of the $67 billion hedge fund added that he would meet with Hochul on Thursday to talk about the future direction of New York.<\/p>\n Mamdani last week \u200cfilmed a\u00a0video\u00a0titled, \u201cHappy Tax Day, New York. We\u2019re taxing the rich,\u201d in front of\u00a0Griffin\u2019s penthouse. X \/ @NYCMayor<\/p>\n The rhetoric carries massive stakes for Midtown Manhattan\u2019s commercial real estate market. Citadel is currently the driving force behind a $6 billion skyscraper redevelopment at 350 Park Ave.\u00a0<\/p>\n Following Mamdani\u2019s video, Citadel chief operating officer Gerald Beeson fired off an internal memo warning employees that the firm\u2019s New York expansion could be jeopardized by hostile local politics.<\/p>\n He wrote that principals and team members have paid nearly $2.3 billion in city and state taxes over the past five years.<\/p>\n In the email, Beeson called it \u201cshameful that he used Ken\u2019s name as the example of those who supposedly aren\u2019t carrying their fair share of the burdens associated with New York City\u2019s often costly and wasteful spending.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Citadel founder Ken Griffin is escalating his feud with New York City\u2019s mayor across the Atlantic, announcing Tuesday…\n","protected":false},"author":2,"featured_media":71041,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[85],"tags":[38633,438,38634,27101,38635,6698,157,156,7322,38636],"class_list":["post-71040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oslo","tag-billionaires","tag-business","tag-hedge-funds","tag-kathy-hochul","tag-ken-griffin","tag-metro","tag-norway","tag-oslo","tag-taxes","tag-zohran-mamdani"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/116487743629181321","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/71040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=71040"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/71040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/71041"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=71040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=71040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=71040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}