Citadel CEO Ken Griffin Doubles Down on Miami Move Amid Tax Dispute

Key facts

• Citadel CEO Ken Griffin reaffirmed the company's commitment to relocating to Miami.
• Griffin cited a dispute with New York City Mayor Zohran Mamdani over tax policy.
• Mamdani released a "Tax Day" video targeting Griffin's Manhattan penthouse.
• Griffin described Mamdani's video as "creepy and weird."
• Griffin urged New York business partners to invest in "freer cities" like Miami.
• The move from Chicago was a choice between New York and Miami.
• Griffin thanked Mamdani for acknowledging his donation to the NYPD.

Miami Becomes Citadel's Unquestionable Choice

Billionaire Ken Griffin, the chief executive of the financial giant Citadel, has reiterated his company's firm intention to "double down" on its relocation to Miami. This emphatic declaration comes in the wake of a public dispute with New York City Mayor Zohran Mamdani concerning tax policies. Speaking at the 2026 Milken Institute Conference on Tuesday, Griffin framed the decision as a clear vindication of past choices. "When we moved from Chicago, there was a debate between New York and Miami," he stated. "It's unquestionably true that we made the right choice." The hedge fund leader's remarks were a direct response to a widely circulated "Tax Day" video released by Mayor Mamdani. The video specifically highlighted Griffin's opulent Manhattan penthouse while announcing the implementation of a new tax on pied-à-terre residences.

A 'Creepy and Weird' Tax Ultimatum

Griffin did not mince words in his assessment of Mayor Mamdani's video, describing it as "creepy and weird." He used the incident as a catalyst to encourage his business associates in New York to shift their investments towards cities perceived as more business-friendly, such as Miami. "Now 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," Griffin explained. He elaborated on his vision for states that "embrace business, embraces education, embraces personal freedom and liberty." His commentary also touched upon a broader trend of corporate migration. "We've seen a mass exodus of business leadership from California to Texas and Florida," he observed, positioning Miami as a beneficiary of this economic realignment.

New York's Defense and a Broken System

In contrast to Griffin's sharp critique, a statement issued to Fox News Digital by Mayor Mamdani's office offered a more nuanced perspective. The statement affirmed the city's desire for all New Yorkers, including business owners and entrepreneurs who generate jobs, to succeed. "It also includes Ken Griffin, who is a major employer in our City and a powerful figure in our economy," the statement acknowledged. However, it quickly pivoted to the core of the administration's fiscal concerns. "That does not negate the fact, however, that our tax system is fundamentally broken," the statement continued. "It rewards extreme wealth while working people are pushed to the brink. If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share."

An Unexpected Thank You Amidst the Dispute

Despite the public sparring over tax policy, of gratitude to Ken Griffin for a recent donation to the New York Police Department. The acknowledgment came during an event at One Police Plaza. Speaking before police officials and the families of fallen officers, Mamdani expressed his thanks to those present. "I want to thank everyone who is here with us in the Hall of Heroes today, with special thanks to Police Commissioner [Jessica] Tisch and NYPD leadership," he said. "I also want to thank Ken Griffin for funding a memorial wall that will open later this year," Mamdani added, highlighting a philanthropic contribution that stood in stark contrast to their recent policy disagreements.

The bottom line

• Citadel is solidifying its commitment to relocating its operations to Miami.
• Hedge fund CEO Ken Griffin views New York City's tax policies as detrimental to business.
• New York City Mayor Zohran Mamdani has defended the city's tax system as needing reform to ensure the wealthy contribute equitably.
• Griffin's public criticism of Mamdani's "Tax Day" video has intensified his resolve to invest in Florida.
• Despite the tax dispute, Griffin has made a significant donation to the New York Police Department.
• The move from Chicago involved a direct choice between New York and Miami, with Miami now being the affirmed destination.