Ken Griffin is not keeping his gripes with City Hall to himself, and he does not think other New York power players should either. In a closed-door session with local executives this week, the Citadel founder urged New York business leaders to "speak up" against Mayor Zohran Mamdani, pressing CEOs to publicly counter the mayor's rhetoric. Griffin, who owns the $238 million Manhattan penthouse singled out in a Tax Day video, framed his remarks as a call for the business class to defend the city's economic climate, sharpening a clash that pits populist tax promises against an entrenched corporate establishment.
Griffin's Appeal To CEOs
As reported by New York Post, Griffin made the comments at a private Upper East Side gathering and told attendees, "My advice is to speak up. What's the worst that's going to happen?" According to the Post, he urged colleagues to "fight for their city" and said he plans to speak with Mayor Mamdani in the months ahead.
How The Spat Began
The dispute traces back to a Tax Day video in which Mayor Mamdani stood outside 220 Central Park South, the building that houses Griffin’s $238 million penthouse, to announce a new tax on luxury second homes. That pied-à-terre surcharge was folded into the state budget and is projected to raise roughly $500 million for the city, according to AP. The very public staging set off swift pushback from some executives and landlords worried about both the tone and the policy signal.
Griffin 'Doubles Down' On Miami
Griffin has said the mayor's naming of him in the video prompted Citadel to "double down" on Miami and to revisit its New York commitments, comments he delivered while speaking at industry events this spring. In those public appearances he described the mayor's video as "creepy and weird," according to Bloomberg. The flap has put fresh scrutiny on the proposed 350 Park Avenue redevelopment that Citadel is expected to anchor.
Real-Estate Leaders Push Back
New York's real-estate titans and corporate CEOs have publicly rebuked the mayor's approach. Vornado Realty CEO Steven Roth called the Tax Day stunt "irresponsible and dangerous" and urged a more business-welcoming tone, as reported by Fortune. Executives warn that pointed political theater could imperil multibillion-dollar projects and thousands of jobs.
Mayor's Office Seeks Outreach
City Hall says a member of the mayor’s team attempted to contact Griffin, but sources told NBC New York the CEO's advisers were skeptical and may have expected an apology before engaging. The mayor's office and allies emphasize that the surcharge targets a narrow slice of ultra-luxury properties, not the broader business community. Officials describe the outreach as part of a wider effort to steady talks with commercial and civic leaders.
Philanthropy, Projects And Civic Stakes
Griffin's footprint in New York mixes high-profile philanthropy with major development bets. He and David Geffen pledged a combined $400 million to Memorial Sloan Kettering, the largest gift in the hospital’s history, reported by Forbes. His affiliates are also central to plans for a new tower at 350 Park Avenue, and Griffin's Midtown mega-tower push has been closely watched as a summer decision window approaches that could determine partner commitments. That mix of giving and development helps explain why his remarks carry outsized local weight.
Why It Matters
For city leaders the calculus is blunt. Populist pressure to tax extreme wealth may play well with parts of the electorate, but it risks alienating firms whose offices, projects and philanthropy support much of Manhattan’s economy. The state budget's pied-à-terre surcharge tightened that political equation, as reported by Reuters via industry outlets, and Griffin's call for executives to "speak up" virtually guarantees that the next phase of this fight will unfold both in private boardrooms and in very public headlines.
