Jewish real estate mogul Steven Roth compared New York City Mayor Zohran Mamdani’s “tax the rich” rhetoric this week to racial slurs and pro-Palestinian rhetoric on an earnings call for his company, Vornado Realty Trust.
“I consider the phrase ‘tax the rich’ when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs and even the phrase, ‘from the river to the sea,’” Roth said, referring to the phrase commonly used at pro-Palestinian protests that many Jewish groups consider antisemitic.
The remark by Roth, who has long been a notable philanthropist to Jewish causes, adds to mounting tensions between New York business leaders and Mamdani over his recently announced “pied-à-terre” tax on second homes valued at more than $5 million.
During the call on Tuesday, Roth also expressed support for Ken Griffin, the CEO of Citadel, whose $238 million penthouse was featured in a video by Mamdani announcing plans for the tax last month.
“We are all shocked that our young mayor would pull this stunt in front of Ken’s home and single him out for ridicule,” Roth said. “The ugly, unnecessary video stunt is personal for Ken and sort of personal for me.”
A longstanding source of friction between Mamdani and NYC Jews
Roth’s comments touched on a longstanding source of friction between Mamdani and some New York Jewish leaders, who have criticized the mayor over his views on Israel and his previous defense of the phrase “globalize the intifada,” another common pro-Palestinian slogan viewed by some as a call to violence against Jews.
In the wake of Mamdani’s election, some Jewish business leaders, including Dave Portnoy, the Jewish founder of Barstool Sports, said that they planned to leave the city altogether, citing the mayor’s fiscal policies and concerns about antisemitism under his leadership.
In a statement responding to Roth’s comments, Mamdani’s office said that he wanted all New Yorkers to succeed, including “business owners and entrepreneurs who create good-paying jobs and make this city the economic engine of America.”
“That does not negate the fact, however, that our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink,” the statement continued.
“The status quo is unsustainable and unjust. If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share.”
