Zohran Mamdani was set to hold individual meetings with Jamie Dimon, chief executive officer at JPMorgan Chase & Co., and Goldman Sachs Group Inc. CEO David Solomon, as New York City's democratic socialist mayor seeks to build relations with the business community.
The sessions are the latest in a string of conversations Mamdani has held with prominent city business leaders. He met last week with Blackstone Inc. President and Chief Operating Officer Jonathan Gray, and held separate sessions at City Hall recently with head executives at Bank of America Corp. and Chobani.
The meetings come as Mamdani, 34, has backed a flurry of proposals that push for higher taxes on the wealthy. That support has prompted blowback from the billionaire class and the real estate industry, which says a new levy on second homes will hurt the luxury market.
As heads of two of the largest US banks, Dimon and Solomon have powerful influence in the finance community, which is a key driver of tax revenue and economic activity for New York. JPMorgan alone has more than 24,000 employees who work in New York City.
More broadly, Wall Street accounted for roughly 19% of New York State's tax revenue between 2024 and 2025, and state Comptroller Thomas DiNapoli estimates that recent bonuses will generate $91 million more for New York City compared to 2024.
A rising stock market has helped support the finances of the state and city so far this year, with the S&P 500 up nearly 8%. And other companies that derive their fortunes from that success, including financial giant Citadel, have large presences in the city.
In a video he released last month celebrating Hochul's announcement of the new pied-à-terre tax, Mamdani singled out Citadel chief Ken Griffin's $238 million penthouse at 220 Central Park South as a prime example of a property that would be subject to the charge.
Griffin called the pointed message "creepy and weird" and the firm floated the possibility of pulling back on a new development in midtown Manhattan.
Mamdani said that City Hall has reached out to Griffin, though no meeting has been scheduled. "It's part of invitations that I've made to a number of business leaders across the city," Mamdani said. "And I've appreciated those conversations."
(Credit: Office of the President of Colombia via Wikimedia Commons)
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