NYC Mayor Zohran Mamdani’s video shaming of the rich didn’t land well with Citadel’s Ken Griffin. Griffin and Citadel itself are now pushing back against his ultra socialist plan of using other people’s money to fund their pet projects.

Billionaire Ken Griffin is appalled that New York Mayor Zohran Mamdani used his 24,000-square-foot Manhattan penthouse last week as the backdrop for a tax-the-rich video, triggering a subtle threat to re-evaluate his firm’s investment in the city.

Mamdani was filmed in front of a property Griffin purchased at 220 Central Park South in 2019 for roughly $238 million, a deal that set a record for the highest-priced home ever sold in the U.S.

“We’ve secured a pied-à-terre tax,” Mamdani said in the video posted April 15. “This is an annual fee on luxury properties worth more than $5 million, whose owners do not live full-time in the city. Like for this penthouse, which hedge fund CEO Ken Griffin bought for $238 million.”

In plain English, what Mamdani wants to do is levy additional taxes against those who have the audacity to do so well financially for themselves that they own more than one home.

Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W

— Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026

Folks, that’s called ENVY. And Mamdani and his Democrat Socialist pals are showing that in spades. 

Well, neither Ken Griffin nor his firm Citadel are going to just sit there and take it. Nope, they are pushing back.

“We are about to commence the redevelopment of 350 Park Avenue, creating 6,000 highly paid construction jobs and supporting the creation of more than 15,000 permanent jobs in mid-town New York,” wrote Gerald Beeson. “The project—if we move forward—will entail more than $6 billion dollars of spending.”

New York City is facing a huge budget deficit. One of their own making. And what does Mamdani do? Go after those who are bringing MONEY and JOBS into the city over the next few years. And those 15,000 permanent jobs? They pay a lot of taxes over the years. 

Yet Mamdani not only is ignoring that, he is obviously completely unaware of how business works. You see, if you start off by penalizing a business before they can get off the ground, they will do the smart thing and find a better place. Which results in taking well over $6 billion in immediate and millions more in long term tax dollars elsewhere. 

Governor Kathy Hochul – who is up for re-election this year – flipped on her initial resistance last week to support the mayor’s tax on luxury second homes in New York City, raising concerns around a possible wealth exodus.

Earlier this year, Hochul attempted to win back wealthy New Yorkers fleeing the state, saying it’s important to be “smart” about taxes, “not just taxing for the sake of taxing.”

“It is clear that Mayor Mamdani is not interested in that advice,” Beeson wrote in the email, after quoting the governor.

“It is shameful that he used Ken’s name as the example of those who supposedly aren’t carrying their fair share of the burdens associated with New York City’s often costly and wasteful spending,” the email continued.

“In doing so, the Mayor has once again manifested the ignorance and disdain of the elite political class towards those who have been consistently committed to building one of the greatest cities in the world.”

The email added that over the past five years, Citadel principals and team members – including non-NYC residents – have paid nearly $2.3 billion dollars in city and state taxes, and Griffin has contributed $650 million in charitable donations supporting New York City residents.

And yet, because of overspending and refusing to rein in spending where it is really needed, such as rampant fraud, New York City is facing a huge deficit. So, instead of deciding to be budget conscious, Mamdani wants to tax the rich even more. And he specifically singled out Ken Griffin and by proxy, Citadel. 

Those who want to tax the rich only see that they have money. What they refuse to see is that the rich EMPLOY many people, who then spend money …and taxes in the same area. 

Mamdani declaring war on Ken Griffin proves how obtuse, fanatical, or simply dumb he is.

Citadel employs ~5,000 people in NYC.
Mean compensation: ~$2M per
Median: ~400K per

If Griffin takes them to Miami, it would be catastrophic for the New Yorkers Mamdani claims to champion -…

— John LeFevre (@JohnLeFevre) April 19, 2026

Again, this goes back to envy of other people’s money. Instead of being budget conscious, Mamdani wants to go after what others make instead of making his own. 

Ken Griffin and Citadel are rightfully ticked off that Mamdani has singled him and his company out. Especially when you consider how much Citadel employees pay in taxes every year and the sheer scope of jobs Citadel had planned to bring to the city. 

Mamdani is biting the hand that feeds the coffers of New York. It wouldn’t surprise me one bit if Ken Griffin took Citadel and it’s 2500 employees and families and left the state. 

Feature Photo Credit: Mamdani State Assemblyman photo via Wikimedia, cropped and modified