Bezos backs – Jeff Bezos defended Mayor Zohran Mamdani’s proposed pied-à-terre tax on New York luxury properties, arguing the policy is “a fine thing.” But in an interview with CNBC, he pushed back on Mamdani’s decision to single out Citadel CEO Ken Griffin, saying Griffin
Mayor Zohran Mamdani’s plan to tax luxury second homes has drawn plenty of criticism from the business world. This week, it also picked up an unexpected supporter.
In an interview with CNBC on Wednesday. Jeff Bezos compared the so-called pied-à-terre tax to a tourist tax—something governments charge with limits and common sense. “Taxes on out-of-towners are very popular taxes. That’s why there are hotel taxes,” Bezos said. “There are limits. If you raise the hotel taxes too much, the tourists stop coming,” he added. “So you have to be judicious. but I think that the pied-à-terre tax is a fine thing for New York to do.”.
The proposed pied-à-terre tax would apply to New York City properties valued at more than $5 million that are not occupied as a primary residence. It is designed to affect owners whose main home is outside the city.
Bezos’s backing comes with a clear caveat: he said the policy itself makes sense. but he disagreed with the way Mamdani chose to frame the debate. The mayor’s tax proposal was originally backed by New York Gov. Kathy Hochul before being later supported by Mamdani, and it still requires legislative approval.
Bezos, who has several New York properties within his real estate portfolio, would be affected by the tax because his main residence is in Florida.
Mamdani’s public case for the tax has leaned on high-profile examples. In a video posted online, he pointed to Ken Griffin’s $238 million penthouse, purchased in 2019, as the kind of property that would fall under the new levy.
The response from Griffin’s orbit was swift and internal. In a memo to staff, Griffin’s deputy at Citadel said the company might rethink a $6 billion redevelopment project for one of its midtown offices after Mamdani’s “shameful” comments.
But when it came time for Bezos to weigh in on Griffin specifically, his tone changed. “Ken Griffin isn’t a villain. He hasn’t hurt anybody. He’s not hurting New York. In fact, quite the opposite,” Bezos said in the interview. “That piece of it isn’t right. and there was no reason to do that. ” he added. referring to Mamdani’s decision to single out Griffin’s property.
Even as the conversation turns on a proposed tax rate and the mechanics of legislative approval. the dispute now also runs along a sharper line: policy versus personal targeting. Mamdani argues that certain high-value. non-primary homes should be taxed; Bezos says the tax may be acceptable. but the spotlight placed on Griffin was not.
Jeff Bezos Mamdani pied-à-terre tax New York City Kathy Hochul Ken Griffin Citadel luxury second homes real estate tax redevelopment project