Posted on 06/28/2025 6:47:24 PM PDT by bitt
The morning after Zohran Mamdani’s surprise victory in the New York City Democratic mayoral primary, Tom O’Donoghue’s phone was ringing off the hook.
O’Donoghue, who runs a luxury construction firm in the Hamptons — the summer playground for rich New Yorkers — said his clients were in “complete disbelief” that a socialist was suddenly the favourite to win November’s general election.
“One of my clients has 150 commercial buildings in the city and he just told me that he had contacted his attorney this morning. They’re getting out of New York,” he said.
Though the former New York governor Andrew Cuomo had been the favourite to win Tuesday’s primary, Mamdani snared 43.5 per cent of the vote, compared with Cuomo’s 36.4 per cent. By 10.30pm local time, the ex-governor had conceded, saying of his opponent: “Tonight is his night. He deserved it — he won.”
Mamdani, a 33-year-old state assemblyman, promised to freeze rent on stabilised apartments, impose a 2 per cent wealth tax on New York residents who earn more than $1 million a year, and raise the corporate tax from 7.25 per cent to 11.5 per cent. New York is home to approximately 350,000 millionaires and 123 billionaires, according to Forbes, and many are seriously thinking about leaving the city.
Bill Ackman, one of New York’s most vocal billionaires, has long said that a Mamdani victory could lead to an exodus. In a post on X on Thursday, he said: “The ability for New York City to offer services for the poor and needy, let alone the average New Yorker, is entirely dependent on New York City being a business-friendly environment and a place where wealthy residents are willing to spend 183 days and assume the associated tax burden. Unfortunately, both have already started making arrangements for the
(Excerpt) Read more at thetimes.com ...
P
But I don’t trust commies. So for me, it would be…
Great movie
Maybe Snake Plissken can provide security for the escape?
Maybe because the guy who’s going to be Mayor has promised to screw them up the backside?
Just a guess.
L
Without reading the article, crime and taxes?
Somehow the Muslim Socialist won in Manhattan while Cuomo did well in Staten Island and the Bronx.
But the dystopian vibe is on-point.
...You'll need help later!
Jews (wealthy or not), also need to be making plans to flee.
Dammit this means home prices will jump in Florida.
What’s going to happen when the commies run out of ‘other people’s money - and the crime rate’s so high the middle class moves out too?
Miami, Palm Beach, and Jupiter Island realtors will be busy. Little inventory right now though.
As for the commercial buildings, sell them now. They’ll be worth much less after this dips*it is through.
Oh great. More liberal pukes disbursed to normal states.
The vast majority of the millionaires and millionaires in NYC probably donated generously to the democrats these last few decades.
They’ll just move somewhere and pollute another area.
Scum either way.
The tax base is leaving. Many in the NYPD are threatening to walk out.
If the communist wins, I’m picking Raleigh, NC to pick up the financial services portfolio for the US. Maybe Miami. FL (Trump effect). But it can’t stay in NYC.
It’s been happening since 2023. https://www.forbes.com/sites/jackkelly/2023/08/23/wall-street-is-going-south-and-taking-1-trillion-in-assets-with-it/
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