NY Business Leaders Launch Campaign to Counter Mamdani's Tax Policies, Lure Firms Back from Florida

New York's political and financial leaders have started efforts to fight Mayor Zohran Mamdani's policies, which they blame for pushing multiple billionaires to relocate their businesses.

After Mamdani named Citadel LLC CEO and owner Ken Griffin in an advertisement for a new tax on second homes in the city, Griffin called him "creepy" in public.

Citadel's COO then wrote to employees that the firm may drop plans to continue a $6 billion renovation of a new Midtown Manhattan office skyscraper.

"What the mayor of New York has made clear to my partners... and principally my New York partners... is that we need to double down on our bet in Miami, because we want to be in a state that embraces business, that embraces education, that embraces personal freedom and liberty, and that embraces people having an opportunity to live the American Dream," Griffin said Tuesday at the Milken Institute Global Conference in New York City.

Local business leaders now promise time and money for a campaign to retain companies in New York.

Andrew Murstein, founder of Medallion Financial Corp., started Operation Boomerang to bring defectors back to the state. He pledged $1 million of his own money and plans to send New York hot dogs, bagels and Katz’s Deli products to businesses that moved to Florida, he told the New York Post.

"The last 10 years with mayors and governors, those things pass, and they should be in it for the long run," he told the Post. "I’m trying to convince them not to abandon ship. Whatever it takes."

Murstein said he will use his initial contribution to raise more funds, expecting the project to bring in $20 million to $30 million, according to the Post.

Former Mayor Eric Adams joined the effort to bring companies back, urging Griffin to "stand your ground" in a post on X.

Mamdani's criticism of the rich has rattled even his own staff, sources told the Post.

"The mayor’s office is feeling pressure around this, and they are looking for ways to change the narrative around business," an anonymous local business leader told the Post.

"They’re in a pickle because he’s hearing all the business leaders are looking for exit strategies now and Mamdani needs money and needs to keep his base happy," the source said.