Billionaire and Citadel CEO Ken Griffin has reiterated his company's commitment to expanding in Miami, stating intentions to 'double down' on the move from Chicago, following a public dispute with New York City Mayor Zohran Mamdani over tax policy and business climate [1]. Griffin made these remarks at the 2026 Milken Institute Conference, emphasizing that the decision to choose Miami over New York was 'unquestionably' the right one [1].
The dispute was sparked by Mayor Mamdani's viral Tax Day video, which highlighted Griffin's Manhattan penthouse while announcing a new pied-à-terre tax. Griffin described the video as 'creepy and weird' and encouraged his New York business partners to invest in cities like Miami, which he characterized as more supportive of business, education, and personal freedom [1]. He further stated, 'Now what the mayor of New York has made clear to my partners, and principally my New York partners, is that we need to double down on our bet in Miami because we want to be in a state that embraces business, embraces education, embraces personal freedom and liberty' [1].
Griffin also referenced a broader trend, noting a 'mass exodus of business leadership from California to Texas and Florida,' and asserted, 'Mamdani's making it very clear. New York doesn't welcome success' [1]. In response, a statement from Mayor Mamdani's office to Fox News Digital emphasized that he wants all New Yorkers, including business owners and entrepreneurs like Griffin, to succeed, but argued that the current tax system is 'fundamentally broken' and requires reform to ensure the wealthiest contribute their fair share [1].
Despite the public disagreement, Mamdani personally thanked Griffin for his recent donation to the New York Police Department, specifically for funding a memorial wall set to open later in the year [1].
CONCLUSION
Ken Griffin's reaffirmation of Citadel's Miami expansion underscores ongoing tensions between high-profile business leaders and New York City's tax policies. While the dispute highlights differing views on wealth and taxation, both parties acknowledged Griffin's economic contributions, suggesting continued dialogue amid shifting business landscapes.