Mayors Mamdani and Wilson Face Corporate Backlash Over Anti-Business Tactics

Zohran Mamdani, the mayor of New York City, and Seattle Mayor Katie Wilson have drawn fierce criticism from corporate leaders after adopting antagonistic tactics toward wealthy residents and businesses. Mamdani recorded a video outside the Manhattan penthouse of Citadel CEO Ken Griffin, revealing his address and declaring that people like Griffin would pay more taxes under his proposed luxury levy on second homes over $5 million. Griffin called the stunt "creepy and weird" and halted a $6 billion Park Avenue redevelopment project that would have created 21,000 jobs, shifting investment focus to Miami instead. Mamdani later attempted to arrange a meeting with Griffin, but the billionaire ignored the request.

JPMorgan Chase CEO Jamie Dimon weighed in after a meeting between Mamdani and top business leaders, warning that the mayor's socialist fiscal agenda — including corporate tax hikes, a 2% income tax increase for millionaires, and the luxury home levy — risks driving away talent and companies. Dimon said Mamdani made a mistake by vilifying Griffin, though he added that he wanted the mayor to succeed and would judge him by results. Mamdani defended his approach as necessary to close a $12 billion budget gap, citing cost-cutting measures and $4 billion in state aid secured with Governor Kathy Hochul.

In Seattle, Mayor Wilson dismissed concerns about billionaires leaving for lower-tax jurisdictions with a "Like, bye" comment after Starbucks announced a new corporate center in Nashville employing 2,000 people. Wilson had also urged citizens not to buy Starbucks products. Starbucks co-founder Howard Schultz criticized Wilson in the Wall Street Journal, saying she vilifies employers while relying on them for revenue.