New York City Mayor Zohran Mamdani sought to repair relations with billionaire Ken Griffin after publicly targeting him in April 2026 over a new pied-à-terre tax on wealthy part-time property owners. On May 27, 2026, Mamdani said he had not received a response from Griffin despite outreach attempts from his office.

In April, Mamdani posted a video outside Griffin’s Manhattan penthouse to promote the tax, singling out Griffin’s $238 million property and accusing billionaires of abusing the system. On Tax Day 2026, he released another video stating he was fulfilling his campaign promise to "tax the rich" and claimed the pied-à-terre tax would generate "at least $500 million" for the city. The pied-à-terre tax, which takes effect July 1, 2026, applies to second homes valued at $1 million or more, with rates ranging from 4% to 6.5% for properties over $5 million.

Griffin, CEO of Citadel, criticized Mamdani’s video as "creepy and weird." He said, "Mamdani has made it very clear—New York does not welcome success." He added that the mayor’s approach would drive investment to more business-friendly cities like Miami, stating in a CNBC interview, "We will add far more jobs in Miami over the next decade as an immediate and direct consequence of the mayor’s poor decision here with respect to his posting of that video."

During a CNN interview, Mamdani initially avoided confirming whether he had heard from Griffin. Pressed on the issue, he said, "Not as of yet." He added, "But I am going to continue to have these meetings to make it clear what our vision actually is for the city." He also said, "We’ve reached out to make it clear that I’m willing to meet with any and all business leaders across the city. I think that’s important because, as the mayor of this city, I’m looking to ensure that I meet with anyone who’s a part of this city’s, not just economy, but also our future."

City officials estimate the tax will raise between $340 million and $500 million annually. However, New York City real estate broker Victoria Shtainer warned the projections may be overly optimistic. "If buyers pull back and transactions stall by nearly 30%, the money lost from a frozen transaction market could easily outpace whatever the city manages to collect from the new surcharge," she said. Her comments referenced data from the United Kingdom showing similar taxes led to a 29% increase in time to sell luxury homes and prompted 40% of sellers to lower prices.