Mamdani meets Wall Street CEOs as tax pitch roils city's wealthy

Zohran Mamdani held 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.

Monday's sessions were 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 U.S. 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.

The conversation with Dimon at JPMorgan's midtown headquarters was "genial," according to a spokesperson for Mamdani.

The pair discussed reducing government waste and how the public and private sectors can best collaborate, among other topics, the City Hall representative said. Dimon also presented Mamdani with the book Our Towns, by James and Deborah Fallows, who documented their visits to a number of American cities.

A spokesperson for JPMorgan confirmed that the conversation was "constructive."

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.

Later in the day, Mamdani met with Solomon at Gracie Mansion where they discussed the affordable housing and small business investments Goldman Sachs has made. The two also talked about ways to retain top talent in New York, according to a spokesperson for City Hall.

A representative for Goldman Sachs declined to comment.

A rising stock market has helped support the finances of the state and city so far this year, with the S&P 500 up about 8%. And other companies that derive their fortunes from that success, including financial giant Citadel, have large presences in the city.

In a video Mamdani released last month celebrating Hochul's announcement of the new pied-à-terre tax, he 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."