Ken Griffin fires back at Mamdani, says business leaders must 'fight for their city'

June 21, 2026 - 23:57

Citadel founder Ken Griffin is pushing back against New York Mayor Zohran Mamdani's recent tax proposals, urging the city's business elite to take a more active role in shaping local policy. In a blunt statement, Griffin warned that the mayor's plans risk driving away top talent and investment from the city.

Griffin, who moved his hedge fund's headquarters from Chicago to Miami in 2022, said he has watched New York struggle with rising costs and a shifting business climate. He argued that corporate leaders cannot afford to stay silent when elected officials push policies that hurt economic growth. "Business leaders must fight for their city," Griffin said, directly addressing Mamdani's proposed tax increases on high earners and corporations.

The mayor's office has defended the tax plan as a necessary step to fund public services and address income inequality. Mamdani, a progressive Democrat, has framed the proposals as a way to make the wealthy pay their fair share. But Griffin countered that such measures would backfire, pushing companies and skilled workers to relocate to lower-tax states like Florida and Texas.

Griffin's comments highlight a growing tension between New York's business community and its progressive leadership. He called on executives to engage more directly in local politics rather than quietly accepting policies that could undermine the city's competitive edge. "If you care about New York, you have to show up and speak up," he said.

The debate comes as New York continues to recover from pandemic-era population losses and struggles to retain its status as a global financial hub. Griffin's warning serves as a reminder that the city's economic future may depend on finding common ground between business interests and progressive governance.