New York and the UK are implementing new taxes on luxury properties to address the housing crisis and fund public services. While these measures aim to target the ultra-rich, experts suggest they are only a partial solution to broader issues of real estate financialization and monetary policy.
Ken Griffin said Mamdani's video, filmed outside his apartment, raised safety concerns.
Mamdani's office said in response to Griffin, "our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink."
Mamdani's office said in response to Griffin, "our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink."
Citadel criticized New York City Mayor Zohran Mamdani after he singled out CEO Ken Griffin in a video promoting a proposed pied-à-terre tax targeting non-resident homeowners with properties valued above $5 million. The hedge fund's COO called the mayor's move 'shameful,' saying it showed 'ignorance and disdain' toward economic contributors. Citadel noted it has paid nearly $2.3 billion in city and state taxes over five years and is undertaking a $6 billion redevelopment project at 350 Park Avenue.
