financetom
Economy
financetom
/
Economy
/
Hedge fund Citadel 'doubling down' on Miami, CEO Ken Griffin says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hedge fund Citadel 'doubling down' on Miami, CEO Ken Griffin says
May 5, 2026 12:45 PM

WASHINGTON, May 5 (Reuters) - Hedge fund Citadel is "doubling down" on its Miami ventures, revising its plans in the city to make the firm's office building larger, CEO Ken Griffin said at the 2026 Milken Institute Conference on Tuesday.

Griffin was responding to questions about New York City Mayor Zohran Mamdani, a democratic socialist, who in April ‌filmed a video titled, "Happy Tax Day, New York. We're taxing the rich," in front of Griffin's penthouse.

Griffin said during the Milken event that Mamdani's video in front of his home was "creepy and weird."

The new tax, which would impose an added annual charge on second houses, condos and co-ops valued at over $5 million if the owner doesn't list them as their permanent residence, fuels the debate over a potential exodus of New York City's mega-rich.

"You know, Mamdani's making it really clear: New York doesn't welcome success," Griffin said on Tuesday. "Are these states trying to push away from their populations those who really do believe in the merits of capitalism, the merits of a free society, the importance of education?"

When asked about Citadel's plans for its massive office redevelopment project in Midtown Manhattan, Griffin said the project was "still a point of discussion internally." Meanwhile the firm has revised its plans to expand its Miami office, he added.

Mamdani's office did not immediately respond to a request for comment.

Griffin said separately that the Federal Reserve is unlikely to cut its key interest rate, as inflation has persisted on elevated energy prices during the Iran war stalemate.

"So from that vantage point, I think the arguments that we saw - and it's hard to believe, just eight weeks ago, 10 weeks ago - that we needed to cut rates further this year are looking a bit dated at this point in time," he said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Powell's decision on Fed board seat could shape Warsh's leadership
Powell's decision on Fed board seat could shape Warsh's leadership
Mar 20, 2026
WASHINGTON, March 20 (Reuters) - Federal Reserve Chair Jerome Powell's upcoming decision on whether to keep his seat on the U.S. central bank's Board of Governors after his leadership term ends is now a key factor in how the tenure of his would-be successor Kevin Warsh evolves, and whether President Donald Trump and Treasury Secretary Scott Bessent can pursue any...
Locked out BP workers picket outside Indiana refinery amid labor contract dispute
Locked out BP workers picket outside Indiana refinery amid labor contract dispute
Mar 19, 2026
NEW YORK, March 19 (Reuters) - Workers at BP's Whiting, Indiana, refinery began picketing on Thursday after the British oil major barred more than 800 union members from entering the facility, following months of stalled contract negotiations. The labor dispute at Whiting, the Midwest's largest refinery, comes at a time of elevated gasoline and diesel prices as the Middle East...
Fed's Bowman says penciled in three rate cuts for year - Fox Business Network
Fed's Bowman says penciled in three rate cuts for year - Fox Business Network
Mar 20, 2026
NEW YORK, March 20 (Reuters) - Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday she sees a series of interest rate cuts happening this year amid concerns about labor market softness. I'm still concerned about...the job market, Bowman said in an interview on the Fox Business Network. I've written three cuts in for before the end of 2026...
US equity fund outflows surge as investors dial down rate cut expectations
US equity fund outflows surge as investors dial down rate cut expectations
Mar 20, 2026
March 20 (Reuters) - U.S. equity funds witnessed the largest weekly net sales in nearly 2-1/2 months in the week to March 18 as expectations of higher oil prices, a hotter-than-expected inflation reading and the Federal Reserve's cautious stance dampened hopes for rate cuts this year. Investors shed U.S. equity funds of a net $24.78 billion in their largest weekly...
Copyright 2023-2026 - www.financetom.com All Rights Reserved