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Mamdani’s Wall Street courtship sparks criticism of anti-billionaire agenda
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Socialist New York City Mayor Zohran Mamdani is courting powerful Wall Street leaders after months of attacking wealthy New Yorkers and pushing higher taxes on corporations.
Given New York City’s outsized role in U.S. banking, investing and corporate headquarters, business leaders warn financial instability in the Big Apple could reverberate nationwide.
Mamdani’s meetings this week with JPMorgan Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon underscored growing concerns that the mayor’s push to tax wealthy individuals and businesses could clash with the financial sector that underpins the city’s economy.
And critics tell Fox News Digital that they view the sit-downs as part of a growing contradiction at the center of his economic agenda in the world’s largest business and finance hub.
BLUE-STATE TAX BURDEN FUELS AMERICANS FLEEING TO REPUBLICAN-LED SOUTHERN STATES
Jamie Dimon, CEO of JPMorgan Chase, met with New York City Mayor Zohran Mamdani in May as the mayor seeks to reassure business leaders amid debate over his proposed tax policies. (Alexander Tamargo/Getty Images for America Business Forum)
«The Mamdani administration has come to recognize that so much of their agenda depends on having successful businesses and wealth creators in the city,» Manhattan Institute economic policy expert Adam Lehodey told Fox News Digital.
«Simply alienating them isn’t going to solve any of New York’s problems,» he added.
Lehodey argued the city cannot fund progressive priorities like free childcare and subsidized housing without strong tax revenue and a healthy private sector. He warns that a «tax-the-rich strategy» could worsen the city’s economic challenges because it might discourage investment in New York.
«It’s a good thing that he’s meeting with them, but now he needs to follow up and deliver something substantive,» Lehodey said. «The current tax-the-rich strategy is only going to worsen the problems unless he follows up and says, ‘Let’s look at what we can do to make it easier to invest in New York State and New York City.’»
Mamdani’s outreach has also extended beyond major banking executives.
The socialist mayor recently reached out to Citadel founder Ken Griffin after previously criticizing the billionaire hedge fund manager over his Manhattan penthouse and personal wealth. Mamdani stood outside Griffin’s multi-million-dollar property in the city to tout his proposal for higher taxes on second homes in NYC worth more than $5 million.
CHICAGO KNOWS WHAT HAPPENS WHEN KEN GRIFFIN TURNS ON A CITY, NOW MAMDANI MAY FIND OUT
Citadel told FOX Business that Griffin «welcomes thoughtful, serious conversations about the policies that can grow the city’s economy and create more opportunity for all New Yorkers,» while cautioning that «reckless political theater serves no purpose.»
Amazon founder Jeff Bezos supported Griffin when on Wednesday he criticized Mamdani’s rhetoric toward wealthy business leaders. The world’s fourth-richest person accused politicians of using an «age-old technique» of «picking a villain and pointing fingers.»
FROM FREE BUSES TO CITY-OWNED GROCERY STORES, HERE ARE MAMDANI’S KEY ECONOMIC PROMISES
«It isn’t right… to stand in front of Ken Griffin’s house and act like he is some kind of villain,» Bezos told CNBC. «Ken Griffin isn’t a villain, he hasn’t hurt anybody, he’s not hurting New York, in fact quite the opposite.»
While Bezos said debates over raising taxes on top earners are legitimate, he criticized what he described as the «vilification» of wealthy Americans and argued that overspending — not insufficient tax revenue — is the root of the nation’s fiscal problems.
The tensions underscore the difficult balancing act facing the mayor of the nation’s financial capital: Wall Street and high-income taxpayers generate a major share of New York City’s tax revenue, even as progressive activists push for a more aggressive redistribution of wealth.
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. (Spencer Platt/Aaron Schwartz/Bloomberg/Getty Images / Getty Images)
Nicole Huyer, a senior policy analyst at The Heritage Foundation, characterized the meetings with Dimon and Solomon as an effort to repair strained ties with New York’s business community after Mamdani’s «tax the rich» campaign rhetoric.
She cautioned that policies perceived as hostile to corporations and wealthy taxpayers could accelerate corporate and capital flight from New York, pointing to Griffin’s relocation to Florida as one example.
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«Jamie Dimon and David Solomon lead two of the nation’s most influential financial institutions and have enormous influence over the financial sector and labor market,» Huyer told Fox News Digital. «If policies drive major firms or wealthy taxpayers out of New York City, the impact on tax revenue, jobs and broader economic activity could be significant.»
Huyer added that «pitching class warfare and then pivoting to court Wall Street executives risks appearing politically performative.»
zohran mamdani, new york city, taxes, banking finance, new york, economy, politics
INTERNACIONAL
Hamas taps ‘ultimate institutional survivor’ as terror chief, sending message to Israel: expert
Gazans react to the killings of Hamas terror leaders
Ex-political prisoner and activists says people are frustrated with Hamas leadership after Israel’s killing of senior commanders, as many residents say civilians — not Hamas leaders — have paid the price of the war (Credit: Jusoor News)
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An old hand very familiar to Israel has emerged as the new political leader of Hamas following a secret insider election that took months to unfold, and one regional expert said the development signals the terrorist group will not be charting a new course.
Khalil al-Hayya, who has been a key negotiator for Hamas and who has survived multiple alleged assassination attempts, will now lead the group’s political bureau. But Middle East Institute Senior Fellow Jaser AbuMousa told Fox News Digital his election is not exactly a passing of the torch.
«Expect more of the same, deliberately,» AbuMousa said. «Al-Hayya is Hamas’s chief negotiator and its ultimate institutional survivor, so you’ll see continued engagement at the negotiating table, ceasefire talks, prisoner exchanges, but do not mistake that for moderation.»
HAMAS SAYS IT WILL DISSOLVE GAZA GOVERNMENT, BUT ISRAEL WARNS GROUP STILL SEEKS HEZBOLLAH-STYLE CONTROL
Al-Hayya, Hamas’ longtime chief negotiator in indirect ceasefire and hostage talks with Israel, will now lead its political bureau. (Louai Beshara/AFP via Getty Images)
«Al-Hayya’s victory is best understood as an act of institutional self-preservation: a battered organization reaching for the most familiar hand available,» AbuMousa warned. «He is an experienced operator, and his elevation signals that Hamas, after the destruction of Gaza and the losses since Oct. 7, 2023, has prioritized organizational cohesion, armed continuity, and the preservation of its Iranian relationship over a genuine political reassessment.»
Several members of al-Hayya’s family, including four sons and other relatives, have also been killed in Israeli operations, according to reports.
In September 2025, Israel reportedly sought to kill al-Hayya in Qatar, striking a building where the Hamas delegation was staying.
«This is the paradox of Hamas leadership right now: the top job is essentially a death sentence, which is part of why the chair sat empty for nearly two years after Sinwar was killed,» the expert said.
ISRAEL’S MILITARY ELIMINATES HAMAS TERRORIST WHO HELPED ABDUCT AMERICAN-ISRAELI HOSTAGE, 3 OTHERS
Analysts say Al-Hayya’s elevation signals that Hamas, after the destruction of Gaza and the losses since Oct. 7, 2023, has prioritized organizational cohesion, armed continuity, and the preservation of its Iranian relationship. (Iranian Leader Press Office / Handout/Anadolu via Getty Images)
«Al-Hayya himself also survived the Israeli strike in Doha last September. For an ordinary executive, that would be disqualifying,» he noted. «Inside Hamas it’s the opposite — surviving assassination is a credential.»
«Expect him to lead the way his predecessors did: rarely in public, moving between Doha and mediating capitals, communicating through statements and negotiators rather than appearances, with the real command decentralized so no single strike decapitates the movement,» AbuMousa continued. «An organization that rewards who has suffered most, rather than who has led best, has no real mechanism to correct course after a catastrophe like this one. That’s what should make anyone nervous.»
«Al-Hayya lost his four sons, which is a real and profound loss for any father. But two things can be true at once,» he noted. «His personal grief is genuine, and inside Hamas that sacrifice also functions as political capital that lifts him above criticism.»
IDF CLAIMS TO HAVE TAKEN OUT HAMAS COMMANDER WHO PARTICIPATED IN OCT 7
Al-Hayya replaced Yahya Sinwar, who was killed by Israeli forces in late 2024. (Fatemeh Bahrami/Anadolu via Getty Images)
While Al-Hayya replaced Yahya Sinwar, who was killed by Israeli forces in October 2024, his rise to power followed a secret election that stretched over months.
«After the near-total destruction of Gaza and staggering losses since Oct. 7, Hamas had a moment to reassess, and it chose continuity instead,» AbuMousa said. «It elevated a loyal survivor tied to Iran and the military wing rather than someone offering a different path.»
«The real story,» according to AbuMousa, «is that Hamas decided its safest bet was to remain exactly what it was: armed, aligned with Tehran, and unwilling to reckon with where its own decisions led Gaza.»
He also cautioned against viewing the leadership vote as a mandate from Gazans.
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«This was a closed vote by a leadership council, not an election by the roughly 2 million Gazans whose lives Hamas claims to represent and who haven’t voted since 2006. Many of them blame Hamas for exposing them to this catastrophe,» he said.
«And watch the likely governance model: not a return to running Gaza openly, but a Hezbollah-style arrangement where Hamas sheds visible responsibility while keeping its weapons, its security structures, and a veto over any political deal,» he added.
middle east, israel, hamas, terrorism, conflicts
INTERNACIONAL
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Inside Fauci’s private diary: What he wrote about Trump, TV personalities and celebrities
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Newly released diary entries by Dr. Anthony Fauci offer an unfiltered look at what the nation’s top infectious disease expert really thought of the politicians, television personalities and celebrities who filled his orbit during the COVID-19 pandemic.
Released by Senate Homeland Security Committee Chairman Rand Paul, R-Ky., the diaries chronicle Fauci’s day-to-day role during the COVID-19 pandemic through meetings, phone calls and personal observations. The release comes days before Fauci is scheduled to testify before the Senate Homeland Security and Governmental Affairs Committee after being subpoenaed by Paul.
The entries feature everyone from President Donald Trump to Julia Roberts, Steph Curry, Larry Ellison and Hunter Biden, offering an unusually personal look at the people who crossed Fauci’s path during the COVID-19 pandemic.
Early entries portray a warm working relationship between Fauci and Trump. Fauci wrote that Trump repeatedly directed questions to him during White House meetings, called him «the smartest person in the world,» told him, «We are counting on you,» and later appeared «enamored» with him as Fauci’s national profile grew.
FAUCI’S NEWLY RELEASED COVID DIARIES REVEAL BIZARRE FIXATION ON FAME AS PANDEMIC DEATHS MOUNTED
President Donald Trump and Dr. Anthony Fauci are seen during a White House Coronavirus Task Force briefing. Fauci’s newly released diary portrays an initially warm working relationship that later deteriorated as the pandemic unfolded. (Jabin Botsford/The Washington Post via Getty Images)
Fauci’s relationship with White House chief of staff Mark Meadows deteriorated throughout the pandemic. Fauci wrote that Meadows threatened to keep him off television, repeatedly pushed him to soften his public messaging and, in one entry, recounted Meadows «screaming» over his public comments.
Fauci, however, repeatedly described then-White House communications director Alyssa Farah as an ally during internal battles over media appearances. In one May 2020 entry, he wrote that Farah admitted White House staff had been «holding me back,» said the situation had «gotten out of hand» and promised to begin clearing his television requests again.
Not everyone in the administration’s communications operation earned Fauci’s praise. In a July 2, 2020 entry, Fauci called then-HHS Assistant Secretary for Public Affairs Michael Caputo «a con man who is completely full of sh–,» writing that Caputo publicly claimed to support his television appearances while privately blocking them.
Television journalists also became recurring figures in Fauci’s diary. CNN anchor Jake Tapper appears repeatedly, with Fauci documenting phone calls, text exchanges and dinners at the Tappers’ Washington home.
LEGACY MEDIA IGNORES MASSIVE ANTHONY FAUCI DOCUMENT RELEASE ALLEGING HE MISLED CONGRESS ON COVID ORIGINS
CNN anchor Jake Tapper appears repeatedly in Dr. Anthony Fauci’s newly released COVID-19 diary, which documents phone calls, text exchanges and dinners at Tapper’s Washington home. (Bryan Bedder/Variety/Getty Images)
Fauci wrote that Tapper privately checked to make sure a CNN interview hadn’t caused problems with the White House. When The Atlantic’s Peter Nicholas suggested Fauci had been «humiliated» over a canceled Tapper interview, Fauci fired back in his diary: «F— you, Peter.»
After Fauci’s heated exchange with Ohio Rep. Jim Jordan, Fauci wrote that CNN’s Dana Bash texted him, telling him he was «a better man» and relaying that fellow CNN anchor Wolf Blitzer had joked no one would have blamed Fauci if he had told Jordan to «go f— yourself.»
The following day, Fauci wrote that Bash texted him again, this time pointing him to a Vanity Fair headline mocking Jordan’s performance at the hearing.
The diary also features colorful asides about billionaire Oracle co-founder Larry Ellison, whom Fauci described as «a bit of a loose cannon» while discussing White House efforts to use Oracle technology during the pandemic.
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Fauci served as chief medical adviser to President Donald Trump during the COVID-19 pandemic before later continuing in the role under President Joe Biden. (Win McNamee/Getty Images)
Beyond politicians and White House aides, Fauci’s diary reads at times like a Hollywood guest list. Actress Julia Roberts hosted Fauci on Instagram Live, sent him flowers and later presented him with an award, while Vogue editor Anna Wintour, comedian Trevor Noah, NBA star Steph Curry, actors Sean Penn and Matt Damon, and rapper Lil Wayne also make appearances as Fauci documented his growing celebrity during the pandemic.
The diary closes with another unexpected cameo. At the 2022 Kennedy Center Honors, Fauci wrote that he hugged Hunter Biden, who joked the internet «would explode» if someone photographed them together because they were both «being attacked by the far right GOP.»
anthony fauci, white house, donald trump, politics, fox news media, coronavirus
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