{"id":130896,"date":"2026-05-06T11:27:54","date_gmt":"2026-05-06T15:27:54","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/chicago-knows-what-happens-when-ken-griffin-turns-on-a-city-now-mamdani-may-find-out-130896"},"modified":"2026-05-06T11:27:54","modified_gmt":"2026-05-06T15:27:54","slug":"chicago-knows-what-happens-when-ken-griffin-turns-on-a-city-now-mamdani-may-find-out","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/chicago-knows-what-happens-when-ken-griffin-turns-on-a-city-now-mamdani-may-find-out-130896","title":{"rendered":"Chicago knows what happens when Ken Griffin turns on a city, now Mamdani may find out"},"content":{"rendered":"
\n

There is no clearer example of what happens when billionaire Ken Griffin turns on a city than in Chicago \u2014 a blueprint that he’s now following in New York.<\/p>\n

The Citadel founder is clashing with New York City Mayor Zohran Mamdani<\/a> over taxes targeting the ultra-wealthy and intensifying crime, reviving the same tensions that drove him to pull his business and billions out of Chicago.<\/p>\n

Griffin, worth about $50 billion according to Forbes, moved the firm\u2019s global headquarters from Chicago to Miami in 2022<\/a>, a departure that showed how quickly jobs, investment and influence can follow when a major financial player leaves.<\/p>\n

The move marked Griffin’s break from Chicago<\/u><\/a>, where he built one of the world\u2019s most powerful hedge fund and market-making operations, which helped cement the city\u2019s status as a global financial hub.<\/p>\n

MAMDANI\u2019S RISE IN NYC MIRRORS ECONOMIC FLIGHT TO THE SOUTH, STUDY SHOWS<\/u><\/strong><\/a><\/p>\n

The Windy City, which served as Citadel’s home for more than 30 years, has seen much of the firm\u2019s workforce shift south, with the office go from roughly 1,300 employees to a few hundred and still shrinking.<\/p>\n

“Asking people to leave Chicago for New York or Miami has not been hard,” Griffin said at a conference in New York on Oct. 6.<\/p>\n

“Chicago, over the past six or seven years, has been engulfed in a series of problems,” he said, pointing to crime as one of the city\u2019s most pressing challenges, along with broader economic and policy concerns weighing on employees\u2019 willingness to stay.<\/p>\n

BILLIONAIRE KEN GRIFFIN SAYS CITADEL\u2019S CHICAGO EXODUS WAS \u2018NOT HARD,\u2019 CITES CRIME, TAXES<\/strong><\/a><\/p>\n

“I think the sad part of the story is how many people who had built lives in Chicago were willing to walk away from that and move to Miami or New York<\/u><\/a>, just given the challenges that Illinois has faced,” he added.<\/p>\n

For Chicago, the result has been a steady erosion of one of its most prominent corporate anchors \u2014 shrinking office space, relocating employees and the departure of a billionaire who once poured hundreds of millions into the city\u2019s institutions and politics. It also meant fewer high-paying finance jobs downtown and the disappearance of a major civic and cultural benefactor.<\/p>\n

That dynamic is now resurfacing in New York, where Griffin is locked in an escalating fight with Mamdani, echoing the early stages of his break with Chicago when Lori Lightfoot was mayor and JB Pritzker was governor of Illinois.<\/p>\n

MAMDANI THANKS SAME BILLIONAIRE HE TARGETED IN TAX VIDEO FOR NYPD MONEY<\/strong><\/a><\/p>\n

The dispute was sparked by Mamdani\u2019s viral April 15 video promoting a proposed tax on second homes worth more than $5 million. Filmed outside Griffin\u2019s 24,000-square-foot Central Park South penthouse \u2014 purchased for a record $238 million \u2014 the video singled out the hedge fund powerhouse by name.<\/p>\n

“This is an annual fee on luxury properties worth more than $5 million, whose owners do not live full-time in the city. Like for this penthouse, which hedge fund CEO Ken Griffin bought for $238 million,” Mamdani said in the clip.<\/p>\n

Griffin has since criticized the video as “creepy and weird” during a discussion at the Milken Institute Global Conference on April 6. He said he watched it three times.<\/p>\n

Asked about Citadel\u2019s plans for a $6 billion office tower at 350 Park Avenue, he said the firm is reassessing the project while doubling down on its expansion in Miami, which he called “unquestionably” the right choice.<\/p>\n

The clash highlights a widening divide between progressive ambitions in major cities and the financial leaders who help drive their economies.<\/p>\n

It also raises a broader question: whether New York could follow a path similar to Chicago\u2019s where a prolonged standoff between political leadership and one of its most powerful business figures ultimately ended in departure.<\/p>\n

Meanwhile, Florida and other red states have branded themselves as business- and billionaire-friendly, welcoming high earners and balking taxes that would burden their empires.<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/chicago-knows-happens-ken-griffin-turns-city-mamdani-may-find <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There is no clearer example of what happens when billionaire Ken Griffin turns on a city than in Chicago \u2014 a blueprint that he’s now […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-130896","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nChicago knows what happens when Ken Griffin turns on a city, now Mamdani may find out - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/chicago-knows-what-happens-when-ken-griffin-turns-on-a-city-now-mamdani-may-find-out-130896\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chicago knows what happens when Ken Griffin turns on a city, now Mamdani may find out - 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