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Citadel warns $6B NYC project may be at risk after mayor targets Ken Griffin

financeApr 23, 2026181,463

Mayor Zohran Mamdani used Ken Griffin’s $238 million Manhattan penthouse in a video promoting a new pied-à-terre tax, naming the Citadel founder as an example for the proposal. Citadel pushed back, with Chief Operating Officer Gerald Beeson calling the mayor’s choice 'ignorance and disdain' in an internal letter and warning the firm may re-evaluate a planned $6 billion Midtown development. The standoff could jeopardize the large construction project and risks chilling future corporate investment and job creation in New York City if major employers reconsider plans.

Key Highlights

Mayor Mamdani used Ken Griffin's $238 million penthouse to promote a pied-à-terre tax
Citadel warned it may re-evaluate a planned $6 billion Manhattan development project
COO Gerald Beeson called the mayor's move 'ignorance and disdain' in an internal letter
3 sources
wsj.comExclusive | Ken Griffin Pushes Back After Mamdani Features His $238 Million Penthouse in Tax-the-Rich Videoforbes.comKen Griffin’s Citadel Suggests $6 Billion NYC Project May Be At Risk Over Mamdani Taxft.trib.alCitadel attacks Zohran Mamdani for using Ken Griffin’s penthouse to sell tax plan

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