New York progressive lawmakers have targeted Citadel founder Ken Griffin over his ultra-luxury Manhattan penthouse in an effort to revive a pied-à-terre tax during state budget negotiations.
On The Bulwark Podcast, host Tim Miller laughed off the political theater surrounding the tax push. Miller noted that assemblyman Zohran Mamdani did "the kind of performative populist left thing, going after your boy at Citadel, um, for, [laughs] for having a, for having a pied-à-terre in New York."
The targeted rhetoric highlights the ongoing battle between Wall Street's elite and local progressive politicians. While Citadel continues its massive expansion and shifts more operations to Miami, its executives' high-profile real estate portfolios in New York remain prime targets for state-level tax-the-rich campaigns.
With the New York budget finalized, the legislative focus shifts to how financial titans like Ken Griffin will navigate future tax proposals. As progressive lawmakers vow to keep pushing for wealth taxes, expect Citadel to remain at the center of the debate over where the ultra-wealthy choose to keep their money—and their pieds-à-terre.