NYC's elites are tired of being painted as the enemy by Mamdani and his ilk

May 10, 2026 - 06:53

A friend of mine who runs a large finance firm in New York City is currently looking for new space in Miami. He wants both an office and a house. And it is not just about the tax bills anymore.

For years, figures like Mamdani and other critics have painted the city's elite as the root of every problem. Rising rents? Blame the bankers. Gentrification? Blame the hedge fund guys. The message has been clear: you are the enemy. But many of these high-net-worth individuals are tired of it. They are tired of being the scapegoat for every urban ill while also being the ones who fund the museums, the hospitals, and the charitable foundations that keep the city running.

The move to Florida is no longer a quiet escape from the state income tax. It is becoming a statement. If the narrative in New York is that success is something to apologize for, then these people are choosing to take their capital and their philanthropy somewhere else. Miami is happy to have them. City Hall in New York should be paying attention, because once the families and the firms leave, the tax base that supports the entire city leaves with them. The elites are not asking for a parade. They are just asking to stop being treated like the enemy.