Billionaires Criticize New York Mayor Mamdani Over Pied-à-Terre Tax Proposal

Wed, 06 May 2026 10:40:00 +0200

Billionaire real estate executive Steve Roth of Vornado Realty Trust has openly criticized New York City Mayor Zohran Mamdani over a social media video highlighting hedge fund CEO Ken Griffin's $238 million second-home in the context of a proposed pied-à-terre tax. Roth, who expressed strong support for Griffin, described the video as 'irresponsible and dangerous' and compared the sentiment of taxing the wealthy to offensive racial slurs. Griffin also voiced concern that the video could provoke political violence, citing nearby incidents. Roth emphasized the economic contributions of the city’s wealthiest residents and urged Mamdani to adopt a more business-friendly approach to achieve growth and fund municipal programs. Meanwhile, political developments continue in New York: Carl Wilson won a City Council seat after ranked-choice tabulations, marking a setback for Mamdani’s endorsement influence. In national and regional politics, Jane Fonda has advocated against the Northeast Supply