NYC Mayor Mamdani filmed a video calling out Citadel CEO Ken Griffin by name for the new pied-a-terre tax on homes worth over $5 million owned by non-residents. Citadel COO Gerald Beeson responded by threatening to pull a $6 billion, 21,000-job redevelopment project at 350 Park Avenue. The pied-a-terre tax is projected to generate $500 million annually, but the 350 Park Avenue project alone would generate $6 billion in spending. Bill Ackman and Kevin O’Leary publicly backed Griffin, calling the policy counterproductive. Griffin already moved Citadel’s headquarters from Chicago to Miami in 2022 over similar disputes.
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