New York Metropolis Mayor Zohran Mamdani spotlighted Citadel CEO Ken Griffin’s Manhattan penthouse in a viral video saying a brand new pied-à-terre tax. (Credit score: NORGES BANK INVESTMENT MANAGEMENT)
Billionaire hedge fund CEO and proprietor Ken Griffin is making good on his promise to “double down” on Miami after publicly feuding with New York Metropolis Mayor Zohran Mamdani over New York’s new tax on costly second properties.
Griffin, who runs hedge fund Citadel, plans so as to add a 300-unit residence constructing and a 1,400+ area parking storage to the positioning of Citadel’s future headquarters in Miami’s monetary district Brickell, latest filings present.
Citadel additionally acquired each unit in a 22-story condominium tower throughout the road from the Brickell constructing with plans to demolish it to increase the Miami campus.
“We’re focusing this a part of our improvement at 1201 Brickell solely on business workplace area. Miami is open for enterprise, and the unparalleled high quality of our improvement will drive the tenancy of main world companies, together with Citadel and Citadel Securities,” a Citadel spokesperson informed FOX Enterprise.
On April 15 (Tax Day), NYC Mayor Zohran Mamdani posted a video outdoors Ken Griffin’s Manhattan penthouse selling a brand new “tax-the-rich” coverage. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Pictures / Getty Pictures)
The Miami push follows a protracted feud between Griffin and Mamdani, stemming from a video Mamdani made particularly focusing on Griffin’s Park Avenue penthouse in an explainer for his new metropolis tax on costly second properties.
“Once I ran for mayor, I stated I used to be going to tax the wealthy. Properly, right now we’re taxing the wealthy… That is an annual payment on luxurious properties value greater than $5 million whose house owners don’t stay full-time within the metropolis — like this penthouse, which hedge fund CEO Ken Griffin purchased for $238 million,” Mamdani stated in his April 15 video whereas standing in entrance of Griffin’s penthouse.
New York Metropolis Mayor Zohran Mamdani stands outdoors of Citadel CEO Ken Griffin’s Park Avenue penthouse in an April 15, 2026, video. (NYC Mayor’s Workplace / Unknown)
Griffin responded, calling the private assault “creepy and peculiar,” worrying that it put him in hurt’s approach and demonstrated “a profound lack of judgment,” on Mamdani’s half.
Griffin’s Citadel executives then instructed {that a} new Citadel workplace area in Midtown may develop into a casualty of Mamdani’s not-so-business-friendly insurance policies.
MAMDANI’S CLASH WITH BILLIONAIRE PUTS NYC STREET FOOD VENDORS IN THE CROSSHAIRS
“We’re about to start the redevelopment of 350 Park Avenue, creating 6,000 extremely paid building jobs and supporting the creation of greater than 15,000 everlasting jobs in Midtown New York,” Citadel COO Gerald Beeson wrote in an April 23 memo to workers.
Citadel is constructing its future headquarters in Miami’s monetary district Brickell. (Getty Pictures / Getty Pictures)
“The venture – if we transfer ahead – will entail greater than $6 billion {dollars} of spending,” he additionally wrote.
Mamdani ultimately softened his rhetoric, thanking Griffin for his contributions to the town.
Citadel already moved its headquarters from Chicago to Miami in 2022, and the Brickell acquisitions additional develop the hedge fund’s South Florida footprint.
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FOX Enterprise contacted Mayor Mamdani’s workplace for added remark.
FOX Enterprise’ Madison Alworth and Matthew Kazin contributed to this report.
