NYC socialist pushes pied a terre tax on billionaires and Ken Griffin eyes full exit…

by

Molly O’Shea
@MollySOShea
If Ken Griffin leaves NYC because of Mamdani’s Pied-à-Terre Tax stunt, the economic fallout could be enormous.

It’s not just “one billionaire moving.”

Ken’s 350 Park Ave project + Citadel’s employment amounts to:
→ ~2,500 Citadel employees currently in NYC
→ Citadel employees/principals paid ~$2.3B in NY state + city taxes over the last 5 years
→ Ken Griffin has directed ~$650M in charitable giving to NYC causes
→ $6B+ in development spending
→ 6,000 construction jobs
→ 15,000+ permanent jobs
→ One of the largest new office towers in Manhattan

In total, the long-term economic value tied to Citadel’s NYC footprint is likely measured in the tens of billions of dollars.

NYC’s entire financial ecosystem is built around a tiny number of ultra-productive firms and taxpayers.

Factcheck: **Yes, largely accurate based on Citadel’s own statements and reporting.**

The $2.3B in NY taxes over 5 years, $6B+ 350 Park Ave redevelopment (6,000 construction jobs + 15k+ permanent jobs), and Griffin’s ~$650M in NYC philanthropy all match what Citadel’s COO cited in internal memos and public responses to Mayor Mamdani’s pied-à-terre tax video (filmed outside Griffin’s $238M penthouse).

Griffin has confirmed he’s doubling down on Miami expansion and threatened to reconsider the NYC tower in response. Whether he fully pulls out is still in flux—some analysts expect the project to proceed—but the economic stakes tied to Citadel’s NYC footprint are real.



Is this socialist wealth tax bullshit finally proving that eat the rich policies always end with the rich eating somewhere else and the poor getting stuck with the bill?