Posted on 11/09/2025 10:09:52 AM PST by nickcarraway
Greek-American billionaire John Catsimatidis has threatened to leave New York and relocate his business to Florida following the election of Zohran Mamdani as mayor.
Catsimatidis cited the incoming administration’s plans for affordable city-run grocery stores that would sell subsidized essentials to ease the cost-of-living crisis experienced by many in New York.
The Red Apple Group owner, whose estimated net worth stands at $4.8 billion, had initially vowed to move his operations to New Jersey but reversed course after Democrat Mikie Sherrill won the state’s gubernatorial race this week, according to Forbes.
Who is Catsimatidis and why is he against Mamdani’s plans? Catsimatidis, who immigrated to New York from Greece as an infant and built his grocery empire from a single Red Apple store, which opened in 1971, now controls Gristedes and D’Agostino supermarkets, which are among the most popular in New York.
His company claims to operate the largest supermarket chain in New York City, with most stores concentrated in Manhattan. The billionaire has warned of potential job losses and operational downsizing, blaming declining profitability, increased shoplifting, and what he views as hostile city policies for the challenging business environment.
Grecian Delight supports Greece Mamdani Mayor-elect of New York City Zohran Mamdani (R) and his mother Mira Nair (L) wave to the crowd during an election night party hosted by the Democratic nominee in the Brooklyn borough of New York, Credit: EPA/SARAH YENESEL via AMNA What are Mamdani’s plans and why are they so popular in New York City? Mamdani, a 34-year-old democratic socialist and former state assemblyman, won with an overwhelming majority and against all odds the mayoral race on a platform promising to address food insecurity and high grocery costs through city-operated stores.
His proposals have struck a chord with New Yorkers frustrated by rising living costs and limited access to affordable food in underserved neighborhoods. The mayor-elect’s plan to establish grocery stores exempt from rent and property taxes, selling goods at wholesale prices, appeals particularly to working-class residents and families struggling with inflation and extortionate housing costs.
Mamdani’s broader agenda includes increased investment in public services, funded by a 2 percent income tax surcharge on individuals earning over $1 million and corporate tax increases expected to raise $9–10 billion annually. His message during the campaign and victory speech was focused on solidarity with ordinary New Yorkers facing economic hardship, positioning his administration as a counterweight to the business interests of the billionaire class that many voters believe have neglected the city’s most vulnerable communities.
Catsimatidis has repeatedly criticized Mamdani’s agenda, arguing that city-sponsored, tax-exempt grocery stores would create unfair competition and drive private operators out of business. He told Forbes that Red Apple Group has operated without profit margins for two years, with shoplifting reaching record levels and sales declining as stores lock up merchandise. The billionaire suggested Florida as a likely destination due to its lower tax burden and more favorable business climate, as it is run by conservative Republican Ron DeSantis.
Other prominent Republican-leaning business figures share Catsimatidis’ concerns. Investor Bill Ackman has warned that the departure of high earners could devastate the city’s tax base. The National Grocers Association issued a statement urging officials to enforce antitrust laws and combat monopolistic practices rather than launching government-run stores.
President Donald Trump weighed in as well, expressing concern that Mamdani intended to “take over” Catsimatidis’ grocery stores, claiming the billionaire had contacted him about the matter, Forbes reported.
Mamdani has defended his proposals, stating that city-run groceries will complement rather than replace private retailers. The Mamdani administration is expected to launch a pilot program for city-run grocery stores in 2026. Business coalitions may pursue legal challenges or legislative action to block the initiative. Meanwhile, Catsimatidis has not announced a definite timeline for relocation or layoffs.
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Enough threatening! Do you think you’re a Hollywood star threatening the country with your absence if Trump wins. Mamdani won so just shake the dust from your sandals and move on.
Cher Catsimatidis.
His daughter is hot!
Well said, Karl. I’ve seen more than a few stories with rich folks saying:
“I might leave New York now.”
“This might make me move.”
Etc.
Either do it and give a wake-up call to Mamdani, or shut up and take the drubbing he will give you.
Tuco’s Rule: If you are going to leave, leave; don’t talk.
Government run grocery stores could be a good thing for private grocery stores if the shoplifters make the move from private to public stores.
There’s no income tax in Florida ... and the weather’s beautiful this time of year. Come on down...
Idle threats?
No income tax in Florida ... and the weather’s beautiful this time of year.
Come on down John Catsimatidis - come home.
Tarpon Springs is wonderful - as nice as Miami and has strong Greek heritable and great Greek restaurants. Florida has it all... Well ‘all’ except Commies...
A person on-the-ball would have had the U-Hauls packed up on election day.
It is past time to pack up and leave New York.
It could be entertaining to watch the battle of the billionaires as their supported factions fight for larger portions of a shrinking pie. But scavengers will pick the bones of the billionaires who stick around thinking they can control what they have unleashed there.
It is essential that no bailouts from the rest of the country are allowed to go to New York (State or City).
You might leave NYC? I might care.
Until you make a move, I won’t either.
Offering to pay for 'shrinkage' (theft) for free market stores would be another solution to the 'underservced neighborhoods'.... problem.
Government run grocery stores could be a good thing for private grocery stores if the shoplifters make the move from private to public stores.
—
Private grocery store shelves will be full, while city-run stores will have bare shelves - where will the shoplifters ever go?
Catsimatidis, unless he moves, will be footing the entire Mamdani bill.
PLENTY OF EMPLOYEES AVAILABLE IN FLORIDA-—ESPECIALLY FOR A WELL-RUN GROCERY CHAIN.
LITTLE TRAINING TIME REQUIRED.
NIGHT JOBS=STOCK SHELVES & CLEANING STORES FOR STUDENTS,ETC.
There is no shoplifting in government-run grocery stores for a simple reason… they never have any products on the shelves to steal.
Don’t talk. Do it or shut up and bend over.
Sick of the blah blah blah.
Like one of those parents with the obnoxious kid running round annoying everyone. “If you do that one more time I’m going to punish you” heard a dozen times to no effect.
How can you shoplift from a free grocery store?
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