Trump defends billionaire Ken Griffin after tax feud with Mamdani

After weeks of back-and-forth between a billionaire and NYC's mayor, the president is weighing in on the feud.

President Donald Trump defended Citadel CEO Ken Griffin after a public spat with Mayor Zohran Mamdani in which he claimed the mayor put him in harm's way over his newest tax campaign.

Here's what was said.

What did Donald Trump say?

In an interview with radio host Sid Rosenberg, Trump said losing “people like Ken … would be a big loss for New York."

“You’ve got to do the opposite. You’ve got to cherish them, … bring them to the office, … have dinner with them,” Trump said. “You have to convince them not to leave.”

Why is Ken Griffin mad at Mamdani?

The controversy began last month after Mamdani released a video explaining his new pied-à-terre tax.

The proposal, which plans to add an annual charge on one to three family homes, condos and co-ops valued above $5 million if owners have another primary residence outside of the city, is projected to bring in $500 million annually.

In a video promoting the tax, the mayor stood outside of Griffin's home and used it as an example for who will be fronting the bill that targets wealthier residents.

At the time, Griffin's company put out a statement to its employees calling the video "shameful," according to the email first reported by the Wall Street Journal, and hinted at the possibility of the company not going through with a new project in the city.

Mamdani responded in a separate press conference that he would be open to speaking with Griffin. But Griffin said that the Mamdani video turned him into a "political puppet."

"The tax itself is a tax that discriminates against a narrow group of people is also disconcerting," Griffin said in a CNBC interview.

He then said that what really upset him "about the video was the fact that he put me in harm's way."

Trump and Mamdani's past feud over new tax proposal

When Mamdani first announced the pied-à-terre tax, Trump raged at the mayor via social media.

"Sadly, Mayor Mamdani is DESTROYING New York! It has no chance! The United States of America should not contribute to its failure," Trump wrote on Truth Social.

"It will only get WORSE. The TAX, TAX, TAX Policies are SO WRONG. People are fleeing. They must change their ways, AND FAST. History has proven, THIS 'STUFF' JUST DOESN’T WORK."

In response, Mamdani said that "the president and I both want the city to succeed. This is how you do it."