Billionaire fires back at Mamdani, says business leaders must 'fight for their city'

June 21, 2026 - 22:47

Billionaire hedge fund manager Ken Griffin fired back at New York Mayor Zohran Mamdani on Tuesday, arguing that business leaders have a responsibility to defend their city against what he called damaging tax policies. Griffin, the founder of Citadel, warned that the mayor's proposed tax increases could drive top talent and major companies out of New York for good.

Speaking at a business forum in Manhattan, Griffin said the city is at a crossroads. He accused Mamdani of pushing a progressive agenda that punishes success and discourages investment. "If you care about this city, you have to fight for it," Griffin said. "Silence is not an option when the people running City Hall are making decisions that will hollow out our economy."

The mayor's office has proposed raising taxes on high-income earners and large corporations to fund affordable housing and public transit improvements. Mamdani defended the plan earlier this week, saying the wealthy have benefited from New York's infrastructure and should contribute more.

Griffin, who moved Citadel's headquarters from Chicago to Miami in 2022, said he has seen firsthand how cities lose their competitive edge when they overtax businesses. He urged New York's corporate leaders to speak out publicly and lobby against the proposals. "We cannot afford to be polite while the city burns its own future," he added.

The exchange highlights a growing tension between New York's business community and its left-leaning city government. With remote work already shrinking office demand and tax revenue, Griffin warned that further burdens could trigger an exodus of jobs and investment. He called on executives to engage directly with voters and lawmakers rather than staying on the sidelines.