Dallas Mayor Eric Johnson Pitches 'Y’all Street' to Wall Street Firms, Blasts NYC's Mamdani

Dallas Mayor Eric Johnson criticized New York City Mayor Zohran Mamdani for "punishing success" and joined Gov. Greg Abbott in urging Wall Street firms to relocate to Texas.

Johnson's pitch for "Y’all Street" over Wall Street arrives as financial companies have steadily expanded in Texas in recent years. Lower taxes and fewer regulations drew them, a movement Johnson said is picking up speed under Mamdani.

The shift of major businesses from large Democratic-led cities could reshape American finance by deciding which areas gain high-paying jobs, investment, tax revenue and clout.

The Republican mayor told Fox News Digital that the latest dispute between City Hall and Wall Street leaders bolsters his worries.

"The recent back-and-forth between Mayor Mamdani and Ken Griffin exemplifies exactly what I have been saying publicly for some time: New York City, under its current leadership, does not believe in rewarding success," Johnson said.

"New York City believes in punishing success," he added. Dallas, he said, welcomes successful companies and their leaders.

Mamdani's feud with Griffin, founder of Citadel, has ignited debate on New York's economy. Griffin warned that tax increases, anti-business talk and crime threaten to drive firms away.

Tensions rose after Mamdani posted a video outside Griffin's condo to promote taxing second homes in New York City worth more than $5 million.

The fight underscores tensions between the city's progressive policies and its financial industry, which has fueled New York State's economy. Mamdani's calls for higher corporate and top-earner taxes widen the gap.

Experts say such measures, plus expanded DEI programs, rent freezes and stricter rules, could push businesses from the global finance hub.

Texas has become a key destination. Goldman Sachs has grown its Dallas operations, and JPMorgan Chase has added workers statewide.

The Texas Stock Exchange plans a Dallas launch to challenge established markets. The New York Stock Exchange and Nasdaq are also expanding in Texas.

Texas posted a record $24 billion budget surplus in 2025, cementing its image as a stable, pro-business state.

Johnson said Dallas is driving the trend, not just riding it.

"Dallas’s pro-business approach is fueling this shift," he said. "Y'all Street" is rising as a financial hub.

"Instead of demonizing those who have achieved the American dream, we embrace our local business leaders as partners in building a better city, a city of genuine opportunity for everyone."