Ken Griffin, Founder, CEO and Co-chief Investment Officer at Citadel, speaks during the Milken Institute Global Conference 2026 in Beverly Hills, California, U.S., May, 5, 2026. REUTERS/Mike Blake
(New York, New York) – Citadel founder Ken Griffin says his firm is putting even more emphasis on Miami as tensions grow with New York City Mayor Zohran Mamdani.
The dispute centers on Mamdani’s push to raise taxes on extremely expensive second homes, a proposal that has angered wealthy property owners and business leaders. Griffin, who has deep ties to New York and Florida, has become one of the most visible critics of the mayor’s approach.
For Mamdani and his allies, the argument is that billionaires should contribute more to help fund the city’s needs. For Griffin and other opponents, the message from City Hall is hostile to success and dangerous for New York’s future as a global business capital.
Citadel’s continued investment in Miami adds weight to the warning. Florida has spent years attracting financial firms, executives and high earners who are frustrated with taxes, crime, regulation and politics in blue states.
Griffin’s message is clear: if New York makes itself less attractive to business, Miami is ready to take advantage.
