Amazon founder Jeff Bezos publicly commented on New York City Mayor Zohran Mamdani’s proposal to implement a pied-à-terre tax targeting luxury second homes valued at over $5 million. During an appearance on CNBC’s 'Squawk Box,' Bezos stated, 'I think that the pied-à-terre tax is a fine thing for New York to do,' signaling his support for the specific measure, which is also backed by New York Governor Kathy Hochul as part of a broader affordability initiative [1].
However, Bezos criticized Mamdani’s approach of publicly targeting wealthy business figures, such as Citadel CEO Ken Griffin, who purchased a Manhattan penthouse for $238 million. Bezos defended Griffin, stating, 'Ken Griffin isn’t a villain. He hasn’t hurt anybody; he’s not hurting New York. In fact, quite the opposite,' and pushed back against the broader 'tax-the-rich' rhetoric [1].
Bezos further argued that the current federal tax structure is unfair to lower-income Americans, suggesting that they should pay no federal income taxes. He cited that the top 1% of taxpayers pay roughly 40% of federal income taxes, while the bottom half contribute about 3%, referencing figures consistent with Tax Foundation and IRS analysis. Bezos asserted, 'You could double the taxes I pay, and it’s not going to help that teacher in Queens. I promise you,' emphasizing his belief that simply raising taxes on billionaires would not materially improve conditions for working-class Americans [1].
The discussion highlights how Mamdani’s tax proposals have become a national political flashpoint, drawing reactions from Wall Street executives, billionaires, and political figures, including President Donald Trump [1].
CONCLUSION
Jeff Bezos’s comments reflect cautious support for targeted luxury property taxes in New York City while rejecting broader efforts to increase taxes on the wealthy. The debate underscores growing national attention on tax policy for high-net-worth individuals, with potential implications for both political discourse and real estate markets.