The billionaire hedge fund executive said recent tax proposals and political rhetoric in New York City prompted Citadel to intensify its long-term investment strategy in Miami instead.
By yourNEWS Media Newsroom
Citadel founder and CEO Ken Griffin said his company has halted additional expansion efforts in New York City, citing concerns over policies advanced by New York Mayor Zohran Mamdani and what he described as an increasingly hostile climate toward business and economic success.
Speaking this week at the Milken Global Conference, Griffin said Citadel’s earlier decision to relocate operations from Chicago to Miami has proven to be the correct move and indicated the company now plans to further strengthen its Florida presence rather than continue growing in New York.
“When we moved from Chicago, there was a debate between New York and Miami; it’s unquestionably true that we made the right choice,” Griffin said during the conference. “I’ll leave it at that.”
He added that Mamdani’s economic approach and messaging toward wealthy individuals and corporations had directly influenced Citadel’s future planning.
“And 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 because we want to be in a state that embraces business, that embraces education, that embraces personal freedom and liberty, and that embraces the opportunity for people to live the American dream and a dream of earned success, not a dream of redistributive handouts that leave people dependent on government for their lives,” Griffin said.
Video of Griffin’s remarks circulated widely online, including in a social media post shared during coverage of the conference.
Griffin also criticized a recent video appearance by Mamdani outside Griffin’s Manhattan penthouse residence, describing the incident as escalating from “creepy” to “frightening.”
“I mean, like, you literally look at the first time, you’re like, you gotta be kidding me. Okay?” Griffin said. “And then the second time, you’re like, you know what this is? Actually, this has gone from creepy to actually not really creepy; this has gone frightening.”
The Citadel executive connected those concerns to broader fears over political extremism and threats against public figures and business leaders, referencing the killing of UnitedHealthcare CEO Brian Thompson near Griffin’s New York residence.
“The CEO of UnitedHealthcare was killed just a few blocks from my house,” Griffin said. “And anything that creates, like an agitation of the extremists on either side of the aisle, is a frightening dynamic.”
Griffin also commented on President Donald Trump surviving multiple assassination attempts, saying the psychological toll of such events would be difficult to comprehend.
“You know, I’ve had my differences with President Trump over the years,” Griffin said, “but the idea that he has survived three assassination attempts is just — it’s just incomprehensible.”
“I mean, could you imagine the state of mind that you would be in having survived not one, not two, but now three separate,” he added.
Citadel officially moved its headquarters from Chicago to Miami in 2022, part of a broader trend of financial firms and high-net-worth individuals relocating to Florida amid lower taxes and a more business-friendly regulatory environment.
Griffin’s latest remarks suggest that New York’s political and economic direction may continue influencing corporate relocation decisions among major financial institutions weighing future investments and expansion plans.
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