Mamdani may find his desire to stick it to the rich will leave fewer of them to tax in New York City, warned John Ketcham, senior fellow at the Manhattan Institute.
“New York City is losing its competitive edge and Mayor Mamdani makes it far less competitive,” he said.
“Investors and job creators have options and they will go where they’re treated well. Increasingly New York City has treated them inhospitably. New York City leaders have assumed they can’t do business elsewhere, even though we have seen in the last several years a dramatic expansion of the financial sector’s activities in states like Florida and Texas.”
From https://nypost.com/2026/05/06/us-news/billionaire-ken-griffin-scales-back-nyc-jobs-in-response-to-mamdanis-tax-the-rich-antics-sparking-fears-wealthy-exodus-has-begun/
Mamdani may find his desire to stick it to the rich will leave fewer of them to tax in New York City, warned John Ketcham, senior fellow at the Manhattan Institute.
“New York City is losing its competitive edge and Mayor Mamdani makes it far less competitive,” he said.
“Investors and job creators have options and they will go where they’re treated well. Increasingly New York City has treated them inhospitably. New York City leaders have assumed they can’t do business elsewhere, even though we have seen in the last several years a dramatic expansion of the financial sector’s activities in states like Florida and Texas.”