Citadel/Griffin Pied-à-Terre Tax Backlash
Citadel CEO Ken Griffin doubled down on Miami expansion in response to Mamdani's Apr 15 pied-à-terre tax video filmed outside Griffin's $238M penthouse at 220 Central Park South, calling the video "creepy and weird" and saying it put him "in harm's way." On Thu May 28 Mamdani told Fox News he has not heard back from Griffin despite his press secretary's Apr 30 outreach calling Griffin "a major employer in our City and a powerful figure in our economy." The tax officially became law Wed May 27 night when both Albany houses passed the FY27 budget (4% / 5.25% / 6.5% tiers, est. $500M/yr) — Griffin's 220 CPS tax bill more than doubles to ~$1.87M.
The viral Tax Day video put a human face on wealth inequality — the pied-à-terre tax polls at 93% citywide and funds childcare for working families. Holding the wealthy accountable is the mandate Mamdani ran on.
Filming outside named individuals' private residences crosses from policy advocacy into personal targeting. Critics argue it chills philanthropy and signals hostility to financial industry employers whose taxes fund city services.