His pitch for “Y\u2019all Street” over Wall Street comes as a steady stream of financial firms have in recent years expanded operations in Texas. They were drawn there because of the lower taxes and fewer regulations, a trend Johnson says is accelerating even more under New York City Mayor Zohran Mamdani<\/a>.<\/p>\n The trend toward moving big business out of big blue cities has the potential to redraw the map of American finance, determining which jurisdictions capture high-paying jobs, investment, tax revenue and influence.<\/p>\n The Republican mayor of Dallas<\/a> told Fox News Digital that the latest clash between City Hall and Wall Street heavyweights only reinforces his concerns.<\/p>\n CHICAGO KNOWS WHAT HAPPENS WHEN KEN GRIFFIN TURNS ON A CITY \u2014 NOW MAMDANI MAY FIND OUT<\/strong><\/a><\/p>\n Several of the nation\u2019s largest banks and financial institutions have expanded their presence in Texas in recent years, adding momentum to the rise of “Y\u2019all Street.” (Rick T. Wilking\/Getty Images)<\/p>\n “The recent back-and-forth between Mayor Mamdani and Ken Griffin exemplifies exactly what I have been saying publicly for some time: New York City, under its current leadership, does not believe in rewarding success,” Johnson said.<\/p>\n “New York City<\/a> believes in punishing success,” he told Fox News Digital, adding that Dallas, by contrast, embraces successful companies and the leaders who built them.<\/p>\n The clash between Mamdani and Griffin has quickly become a flashpoint in the broader debate over New York’s economic direction, with the Citadel founder warning that tax hikes, anti-business rhetoric and crime risk are pushing firms out.<\/p>\n The feud intensified after Mamdani posted a viral video outside Griffin\u2019s condo promoting his plan to tax second homes in NYC worth more than $5 million.<\/p>\n NYC GROCERS SOUND ALARM ON MAMDANI\u2019S SUPERMARKET PLAN: “WE\u2019LL LOSE CUSTOMERS<\/strong><\/a><\/p>\n New York City Mayor Zohran Mamdani placed affordability at the center of his campaign to lead America’s largest city. (Kyle Mazza\/Anadolu)<\/p>\n The dispute highlights a growing rift between New York City’s progressive agenda and the financial sector that has long powered the entire state’s economy \u2014 a divide only sharpened by Mamdani\u2019s push for higher taxes on corporations and top earners.<\/p>\n Experts warn that this, along with expanded DEI initiatives, rent freezes<\/a> and tighter regulations, risk driving businesses away from the center of the world’s financial markets.<\/p>\n Texas has already emerged as a major destination for firms in recent years, with companies like Goldman Sachs<\/a> expanding their footprint in Dallas and JPMorgan Chase growing its workforce across the state.<\/p>\n Meanwhile, the Texas Stock Exchange is preparing to launch in Dallas to rival legacy markets. At the same time, the New York Stock Exchange<\/a> and Nasdaq are expanding into the state \u2014 underscoring the Lone Star State’s rise as a financial powerhouse.<\/p>\n The state\u2019s broader economic strength has also been a draw for outsiders.<\/p>\n Texas reported a record $24 billion budget surplus<\/a> in 2025, reinforcing its reputation as a fiscally stable, business-friendly environment.<\/p>\n Texas’ success story gives Republicans a clear example to argue that low taxes, light regulation and strong energy production deliver real economic advantages, not just population churn. (Jacek Boczarski\/Anadolu)<\/p>\n![\"Cowboys](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/05\/texas-yall-street.png\")
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