Citadel founder and CEO Ken Griffin described New York City Mayor Zohran Mamdani’s “tax the rich” video targeting him as a “creepy and weird” political advertisement.
Speaking at the Milken Conference in Los Angeles on Tuesday, Griffin said Mamdani’s “frightening” video reaffirmed his decision to “double down” on business in Miami.
“Mamdani has made it very clear—New York does not welcome success,” Griffin said during the panel.
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On April 15, Mamdani posted a video highlighting Griffin’s property while announcing a new pied-à-terre tax.
The video shows Mamdani—who has pledged to raise taxes on wealthy New Yorkers—standing outside Griffin’s 24,000-square-foot property. Griffin purchased the home in 2019 for $238 million, the most expensive residential sale in U.S. history.
“This is an annual fee on luxury properties worth more than $5 million whose owners do not live full-time in the city—like this penthouse, which hedge fund CEO Ken Griffin bought for $238 million,” Mamdani said while announcing the proposal.
Following the video, Citadel COO Gerald Beeson suggested that plans for the firm’s skyline project at 350 Park Avenue could be reconsidered.
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“We are about to commence the redevelopment of 350 Park Avenue, creating 6,000 highly paid construction jobs and supporting more than 15,000 permanent jobs in Midtown New York,” Beeson wrote in an April 23 memo to employees.
“The project—if we move forward—will involve more than $6 billion in spending,” he added.
Griffin said Tuesday that the project’s future remains “a point of discussion” within the company.
Mayor Mamdani’s office did not immediately return Fox Business’ request for comment.
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Citadel is currently building a new headquarters in Miami. Griffin told the Milken audience that the tower’s design is being revised to “make it bigger,” adding that Florida’s leadership has demonstrated stronger support for pro-business policies.
Griffin, who founded Citadel and Citadel Securities, previously moved both firms from Chicago to Miami following the COVID-19 pandemic. He has frequently criticized leadership in Chicago and the broader state of Illinois.
On Tuesday, Griffin said his dispute with Mamdani is “triggering the trauma” he “experienced in Chicago.”
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With an estimated net worth of $51 billion, Griffin ranks among the world’s 35 richest people. He has also said Mamdani’s video reflects a “profound lack of judgment.”
Speaking at the Norges Bank Investment Management 2026 Investment Conference in Oslo, Griffin criticized what he described as the “demonizing” of business leaders.
“What upset me was the personal attack,” Griffin said. “You were at the White House Correspondents’ Dinner on Saturday, where they tried to assassinate the president. Not far from where I live in New York is where the CEO of UnitedHealthcare was assassinated.”
Following Griffin’s remarks, former New York City Mayor Eric Adams took to X, asking Mamdani to “do the right thing and apologize.”
“Mayor Mamdani’s video targeting Ken Griffin and using his home as a prop traded thousands of real, good-paying jobs in our city for social media likes,” Adams wrote in the post. “The video was irresponsible, and the Mayor should do the right thing and apologize. I am going to call [Griffin] to let him know the Mayor’s video does not reflect the sentiments of the majority of New Yorkers, and ask him to reconsider.”
The former went on to call Mamdani’s actions “bad policy.”
“Targeting millionaires and billionaires may make for a great video, but driving out the top 1% of earners, who pay more than 40% of our income tax, is bad policy,” Adams wrote. “We need a city where the person who drives the limousine is gainfully employed, and the person who sits in the back of it is acknowledged for their contributions to our city.”
FOX Business’ Louis Casiano contributed to this report.
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