Vornado CEO compares ‘tax the rich’ rhetoric to slurs amid Mamdani clash
Fox Business • • general
Key Points:
- Steven Roth, CEO of Vornado Realty Trust, condemned the phrase "tax the rich," equating it to hateful racial slurs and criticizing politicians for portraying wealthy individuals as enemies despite their economic contributions.
- Roth emphasized that wealthy taxpayers, many of whom started with nothing, are key to New York’s economy, paying half of the city’s income taxes and serving as major employers and philanthropists.
- Roth expressed support for billionaire Ken Griffin amid Griffin’s public clash with Mayor Zohran Mamdani, while also wishing for Mamdani’s success despite recent controversies.
- City Hall defended Mamdani’s tax reform efforts as necessary to address economic inequality, stating the current system favors extreme wealth and urging that the wealthiest New Yorkers pay their fair share.
- The tensions escalated after Mamdani posted a video outside Griffin’s expensive Manhattan home announcing a new pied-à-terre tax, which Griffin criticized as hostile and a factor in his decision to expand operations in Miami.
