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Chicago knows what happens when Ken Griffin turns on a city, now Mamdani may find out
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There is no clearer example of what happens when billionaire Ken Griffin turns on a city than in Chicago — a blueprint that he’s now following in New York.
The Citadel founder is clashing with New York City Mayor Zohran Mamdani over taxes targeting the ultra-wealthy and intensifying crime, reviving the same tensions that drove him to pull his business and billions out of Chicago.
Griffin, worth about $50 billion according to Forbes, moved the firm’s global headquarters from Chicago to Miami in 2022, a departure that showed how quickly jobs, investment and influence can follow when a major financial player leaves.
The move marked Griffin’s break from Chicago, where he built one of the world’s most powerful hedge fund and market-making operations, which helped cement the city’s status as a global financial hub.
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Ken Griffin, founder of Citadel, moved the firm’s operations from Chicago to Florida in 2022, marking a major shift for one of the world’s most powerful hedge funds. (Krisztian Bocsi/Bloomberg via Getty Images)
The Windy City, which served as Citadel’s home for more than 30 years, has seen much of the firm’s workforce shift south, with the office go from roughly 1,300 employees to a few hundred and still shrinking.
«Asking people to leave Chicago for New York or Miami has not been hard,» Griffin said at a conference in New York on Oct. 6.
«Chicago, over the past six or seven years, has been engulfed in a series of problems,» he said, pointing to crime as one of the city’s most pressing challenges, along with broader economic and policy concerns weighing on employees’ willingness to stay.
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«I think the sad part of the story is how many people who had built lives in Chicago were willing to walk away from that and move to Miami or New York, just given the challenges that Illinois has faced,» he added.
For Chicago, the result has been a steady erosion of one of its most prominent corporate anchors — shrinking office space, relocating employees and the departure of a billionaire who once poured hundreds of millions into the city’s institutions and politics. It also meant fewer high-paying finance jobs downtown and the disappearance of a major civic and cultural benefactor.
That dynamic is now resurfacing in New York, where Griffin is locked in an escalating fight with Mamdani, echoing the early stages of his break with Chicago when Lori Lightfoot was mayor and JB Pritzker was governor of Illinois.
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On April 15, NYC Mayor Zohran Mamdani posted a video outside Ken Griffin’s Manhattan penthouse promoting a new «tax-the-rich» policy. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Images / Getty Images)
The dispute was sparked by Mamdani’s viral April 15 video promoting a proposed tax on second homes worth more than $5 million. Filmed outside Griffin’s 24,000-square-foot Central Park South penthouse — purchased for a record $238 million — the video singled out the hedge fund powerhouse by name.
«This is an annual fee on luxury properties worth more than $5 million, whose owners do not live full-time in the city. Like for this penthouse, which hedge fund CEO Ken Griffin bought for $238 million,» Mamdani said in the clip.
Griffin has since criticized the video as «creepy and weird» during a discussion at the Milken Institute Global Conference on April 6. He said he watched it three times.
Asked about Citadel’s plans for a $6 billion office tower at 350 Park Avenue, he said the firm is reassessing the project while doubling down on its expansion in Miami, which he called «unquestionably» the right choice.
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Citadel CEO Ken Griffin purchased the penthouse property at 220 Central Park South in 2019 for roughly $238 million. (Jeenah Moon/Bloomberg/Getty Image)
The clash highlights a widening divide between progressive ambitions in major cities and the financial leaders who help drive their economies.
It also raises a broader question: whether New York could follow a path similar to Chicago’s where a prolonged standoff between political leadership and one of its most powerful business figures ultimately ended in departure.
Meanwhile, Florida and other red states have branded themselves as business- and billionaire-friendly, welcoming high earners and balking taxes that would burden their empires.
chicago, new york city, taxes, zohran mamdani, chicagos crime wave
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The Trump administration on Friday released its fourth tranche of declassified unidentified anomalous phenomena (UAP) records, including newly released military infrared videos and additional details about a 2015 unidentified object reported near the nation’s primary nuclear weapons assembly facility.
Officials said the latest release is part of the administration’s effort to expand public access to UAP records while protecting information that could reveal sensitive military capabilities, eyewitness identities or national security operations.
Among the newly released files is an 18-second infrared video submitted by U.S. Indo-Pacific Command in 2025 showing an object officials described as resembling a six-pointed star.
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An infrared image released by the Department of War shows an object described by officials as resembling a six-pointed star during a U.S. Indo-Pacific Command mission over the Yellow Sea on Jan. 1, 2025. (Department of War)
The footage, captured by an infrared sensor aboard a U.S. military platform over the Yellow Sea, shows the sensor tracking what the government described as an «area of contrast» while cautioning that the video’s description should not be interpreted as an official conclusion about the object’s identity or significance.
The latest release also includes a newly declassified Department of Energy report detailing a 2015 incident involving an unidentified object over the Pantex Plant near Amarillo, Texas, the nation’s primary facility for assembling, maintaining and dismantling nuclear weapons. Portions of the report had previously been released in a more heavily redacted form, but Friday’s tranche includes additional details and imagery.
The release also includes a 1-minute, 46-second infrared video submitted by U.S. Indo-Pacific Command in 2024 that shows a military sensor tracking an elongated area of contrast. As the sensor zooms in, the object appears as a line of several points moving across the field of view before becoming less distinct as it recedes into the distance. Officials cautioned that the video’s description should not be interpreted as an official conclusion about the object’s identity or significance.
Another newly released Navy «Range Fouler Debrief» — a standardized report used to document unauthorized intrusions into military training airspace — describes a military operator observing a «quite small» object with a metallic appearance and reflective underside that continued traveling in a constant direction. The report cautions that the descriptions reflect the observer’s impressions at the time and are not definitive assessments of the object’s characteristics.
A screenshot of video footage from an alleged unidentified anomalous phenomenon (UAP) sighting in the northeastern United States in July 2025, which was detailed in files released by the DOW and originally obtained by the FBI. (DOW/FBI)
PENTAGON FILES REVEAL AGENTS’ REPORTS OF ‘ORBS LAUNCHING ORBS’ NEAR SENSITIVE US SECURITY SITE
The release also features additional infrared videos submitted by U.S. Central Command, the Air Force and Indo-Pacific Command. One 2024 video shows what appears to be an elongated area of contrast that later resembles a line of multiple bright points as the military sensor tracks it. Another 2023 video captures two areas of contrast crossing the sensor’s field of view in opposite directions.
In at least one case, AARO included technical context alongside the footage, noting that apparent flickering in a 2019 Air Force infrared video could result from the sensor’s automatic contrast adjustments when tracking an object whose temperature closely matched its background.
An artist’s rendering released by the U.S. Department of War depicting a 2023 sighting of «orbs launching other orbs» near a national security site in the western United States. (Department of War)
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Congress established AARO in 2022 to investigate reports of unidentified objects across air, sea, space and other domains, with a focus on determining whether incidents could pose flight safety or national security risks. The office is tasked with assessing whether sightings can be attributed to foreign adversaries, classified U.S. programs or conventional explanations before labeling them unresolved.
The latest release is the fourth tranche in a series that is part of President Donald Trump’s directive to expand public access to UAP records, adding that redactions were limited to protecting eyewitness identities, sensitive military locations and unrelated government facilities.
ufos, national security, pentagon defense, us navy
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Un asalto en altamar dejó a 27 pescadores ecuatorianos a la deriva: fueron hallados con vida tras horas de incertidumbre
Durante varias horas, 27 pescadores artesanales navegaron a la deriva frente a la costa ecuatoriana sin motores, sin equipos de comunicación y sin posibilidad de pedir ayuda. Lo que comenzó como una jornada habitual de pesca frente a Manabí terminó convirtiéndose en un operativo de búsqueda que movilizó a las autoridades marítimas y mantuvo en vilo a decenas de familias. El desenlace llegó cuando todos fueron encontrados con vida en la comuna La Entrada, en la provincia de Santa Elena, después de sobrevivir, según sus primeros testimonios, a un violento asalto en alta mar.
Los pescadores habían salido desde comunidades pesqueras del cantón Manta, principalmente de los sectores de Santa Rosa y Las Piñas, en la parroquia San Lorenzo, para cumplir una faena de pesca artesanal. Con el paso de las horas dejaron de comunicarse y no regresaron al puerto en el tiempo previsto, por lo que sus familiares alertaron a la Capitanía del Puerto sobre su desaparición.
La denuncia dio paso a un operativo de búsqueda en aguas del litoral ecuatoriano. Durante las primeras inspecciones fueron localizadas varias embarcaciones flotando sin sus motores fuera de borda, un hallazgo que llevó a las autoridades y a los propios pescadores de la zona a sospechar que la flotilla había sido víctima de un ataque de piratas del mar, una modalidad delictiva que ha ganado presencia en la costa del país.
Mientras avanzaba la búsqueda, la incertidumbre crecía entre las familias. La noticia cambió cuando comenzó a circular un video enviado desde Santa Elena en el que aparecían varios de los pescadores confirmando que estaban con vida. Poco después, las autoridades verificaron la información y confirmaron que los 27 hombres habían logrado llegar a la comuna La Entrada, ubicada en el límite entre Santa Elena y Manabí.
De acuerdo con las versiones preliminares entregadas por los sobrevivientes, la flotilla fue interceptada por hombres armados mientras realizaba labores de pesca. Los atacantes les habrían robado los motores fuera de borda, los equipos de comunicación, combustible y otras pertenencias de valor antes de abandonar las embarcaciones en mar abierto.
Sin los motores, los pescadores quedaron completamente expuestos a las corrientes marinas. Incapaces de maniobrar o de solicitar auxilio por radio, permanecieron durante horas desplazándose sin control hasta conseguir acercarse a la costa de Santa Elena, donde finalmente recibieron ayuda y pudieron contactar a sus familiares.
En las horas posteriores al hallazgo circularon versiones no confirmadas sobre la existencia de otros pescadores desaparecidos e incluso sobre un posible fallecimiento. Sin embargo, hasta el 10 de julio las autoridades únicamente habían confirmado que los 27 trabajadores del mar cuya desaparición había sido denunciada fueron encontrados con vida. Las investigaciones continúan para esclarecer los hechos y verificar la información que comenzó a difundirse durante la emergencia.
El caso volvió a poner de relieve la vulnerabilidad de la pesca artesanal frente al incremento de los ataques de delincuentes que operan en aguas ecuatorianas. En los últimos años, pescadores de Manabí, Santa Elena, Esmeraldas y otras provincias costeras han denunciado un aumento de los robos en altamar, principalmente dirigidos al hurto de motores fuera de borda, cuyo elevado valor en el mercado ilegal los convierte en uno de los principales objetivos de estas organizaciones.
Para los pescadores, la pérdida del motor no solo representa un golpe económico que puede impedirles volver a trabajar durante semanas o meses. También constituye un riesgo inmediato para la vida, ya que una embarcación inmovilizada queda a merced del viento, las corrientes y las condiciones del océano, especialmente cuando la tripulación pierde además los equipos de navegación y comunicación.
Las autoridades marítimas y los organismos de seguridad mantienen abiertas las investigaciones para identificar a los responsables del asalto denunciado por los sobrevivientes y establecer cómo operó el grupo que interceptó a la flotilla. Los testimonios de los pescadores serán incorporados a las diligencias para reconstruir la secuencia del ataque y determinar si este caso guarda relación con otros episodios similares registrados en la costa ecuatoriana durante los últimos meses.
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