talk with CNBC Today, Castle founder and CEO Ken Griffin As a direct result of New York City’s socialist mayor said: Zohran Mamdani, Citadel will move more jobs to Miami.
Griffin said they applied to the city of Miami to expand their offices to provide more job opportunities.
Today we tax the rich (so they should leave).
Recently, Mamdani called Griffin “step on the ground“An apartment in New York City. Mamdani used this as a prop for his attack on people who don’t live in the city full time and his desire to tax the rich. Of course, what Mamdani ignores is the value that people like Griffin bring to the city, such as more jobs and investment, which translates into more tax revenue. It now appears that Mamdani has achieved the opposite of generating more tax revenue for a city with a significant budget deficit. For fiscal year 2026, New York City is expected to have a budget deficit of $2 billion.” This deficit is expected to widen further and reach 10.4 billion dollars in 2027.
Citadel is developing a new office in Manhattan, which is initially expected to create 6,000 construction jobs and 15,000 permanent jobs, possibly high-paying jobs for bankers.
Even as Citadel curbed its presence in Manhattan, Mamdani refused to back down because he believed in the “warmth of collectivism,” citing his authoritarian, socialist beliefs.
Although New York is home to the world’s leading financial centers, the city should not take this status for granted. Already some financial services have moved to Texas, Florida and elsewhere. Palm Beach area earns “label”Wall Street South.” JP Morgan CEO Jamie Dimon he recently stated that his bank has more employees in Texas than in New York; This is a fairly new development.
