NYC Wealthiest Rally Around Citadel's Griffin in Mamdani Feud, Bloomberg Reports

Bloomberg reported Thu May 1 that NYC's ultra-wealthy are uniting around Citadel founder Ken Griffin against Mayor Mamdani after the Apr 15 pied-à-terre tax video that singled out Griffin's $238M penthouse. Wall Street executives have publicly aligned with Griffin in the days following his Apr 28 Norges Bank conference comments calling Mamdani's tactic "a profound lack of judgment" and "personal attack." Citadel COO Beeson's threat to abandon a $6B+ NYC expansion (62-story Park Ave development) hangs over the negotiations. Hochul met privately with Griffin Thu Apr 30 to discuss NYC's "future direction." The billionaire bloc forming against Mamdani threatens his Albany-dependent revenue plays — pied-à-terre tax ($500M), corporate hike ($1.75B), millionaires tax ($3B), PTET reduction ($1B, already rejected). Counter-narrative from Jacobin: "The Rich Promised to Flee Mamdani's New York. They Haven't."

• keptPied-à-terre tax on $5M+ second homes
• brokenCorporate tax hike ($1.75B/year)
• brokenDouble DCWP budget to $135M
• brokenIncrease Human Rights Commission funding to $21M

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