Key insights
- Citadel is expanding its Miami presence, driven partly by CEO Ken Griffin's negative reaction to New York City's tax policies and a video filmed outside his residence. While this signals a shift in Citadel's geographic focus, the direct impact on broader US equity markets is limited, suggesting a slightly bearish sentiment towards New York's business environment.
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."
(Reporting by Matt Tracy; editing by Megan Davies)