Zohran Mamdani fires back after Jeff Bezos says doubling billionaire taxes won’t help Queens teachers

Dimon also supported comments by Amazon founder Jeff Bezos regarding tax reform. Bezos had argued that lower-income earners should not face income tax burdens, suggesting the top 1% already contribute a disproportionate share. Dimon echoed that sentiment.Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview on the sidelines of the JPMorgan China Summit in Shanghai, China, on Thursday, May 21, 2026. Photographer: Qilai Shen/Bloomberg(Bloomberg)JPMorgan Chase CEO Jamie Dimon has issued a sharp warning to New York City Mayor Zohran Mamdani, questioning whether the mayor’s progressive economic policies will strengthen or weaken the city’s competitiveness.Dimon, speaking on Bloomberg TV, said ideology alone would not define success and stressed that results would ultimately determine his judgment of the administration.“I don’t care what he says. What does he do? I will judge that … because you can talk about morality and ideology all you want, but if things don’t get better, you didn’t do a good job,” Dimon said.“Hope he learns”: Dimon questions policy directionDimon cautioned that past experience with city leadership suggests policy missteps can worsen urban challenges if not corrected.“I have seen mayors who make statements, and they make it worse and worse and worse,” he said. “They don’t know, they can’t get into details of why is affordable housing not there anymore? Why does this not work?”He added that he hopes Mamdani adapts to governance realities.“Hopefully he’ll learn. I want him to do a good job.”Clash over tax hikes and wealth redistributionThe comments come shortly after Dimon and other business leaders met Mamdani, who has promoted a strongly progressive economic agenda since taking office in January.The mayor has proposed higher corporate taxes, a 2% income tax increase on millionaires, and a luxury tax on second homes valued above $5 million.Dimon warned that such policies could have long-term consequences for economic growth and business retention.“Cities must compete or lose talent”Emphasizing global competition, Dimon said cities must focus on attracting businesses, talent, and investment.“Every city has to compete, and they have to compete at every level — arts, science, schools. That is what it is, I’m not inventing that,” he said.“He can be an ideologue, but he has to compete too … Will he learn that he’s got to make the city a place where people want to grow and build and live and have families and work?”He pointed to global financial and business hubs as examples of competitive urban ecosystems, including Shanghai, Hong Kong, Singapore, and Nashville.“People vote with their feet,” Dimon added.Dimon backs lower tax burden for low-income earnersDuring the interview, Dimon also supported comments by Amazon founder Jeff Bezos regarding tax reform.Bezos had argued that lower-income earners should not face income tax burdens, suggesting the top 1% already contribute a disproportionate share.Dimon echoed that sentiment: “I don’t think the lower people making under a certain amount [should be] paying taxes at all, you know, I would agree with that.”

Amazon founder Jeff Bezos backed New York City’s proposed tax on luxury second homes, comparing it to hotel taxes on tourists. However, Bezos also defended Ken Griffin after NYC Mayor Zohran Mamdani publicly cited his $238 million penthouse.Bezos has backed NYC luxury home tax, but defended Ken Griffin over Mamdani remarksAmazon founder Jeff Bezos has voiced support for New York City’s proposed pied-à-terre tax on luxury second homes, even as several prominent business leaders continue to oppose the measure, according to a report by Business Insider.Speaking to CNBC on Wednesday, Bezos compared the proposed levy to taxes imposed on tourists through hotel stays. “Taxes on out-of-towners are very popular taxes. That's why there are hotel taxes,” Bezos said during the interview.“There are limits. If you raise the hotel taxes too much, the tourists stop coming,” he added. “So you have to be judicious, but I think that the pied-à-terre tax is a fine thing for New York to do.”The proposed pied-à-terre tax would apply to New York City properties valued at more than $5 million that are not used as a primary residence. The tax would primarily affect wealthy homeowners whose main residence is outside New York City.New York Governor Kathy Hochul first introduced the proposal, which New York City Mayor Zohran Mamdani later backed.According to Business Insider, Bezos himself could be impacted by the tax because he owns multiple New York properties while maintaining his primary residence in Florida.The proposal still requires legislative approval and has already sparked criticism from several influential figures, including US President Donald Trump and hedge fund manager Bill Ackman, both of whom have publicly opposed the idea.Ken Griffin controversy adds to debateThe debate around the proposed tax intensified after Mamdani publicly referenced billionaire Citadel CEO Ken Griffin’s $238 million penthouse in a video posted online. Griffin purchased the Manhattan property in 2019, and Mamdani used it as an example of the type of ultra-luxury property that would fall under the proposed tax framework.Following Mamdani’s comments, a senior executive at Citadel reportedly told employees in an internal memo that the company may reconsider a planned $6 billion redevelopment project linked to one of its Midtown office buildings. The memo described Mamdani’s remarks as “shameful,” according to the Business Insider report.Despite supporting the proposed tax, Bezos defended Griffin during the CNBC interview and criticised the decision to publicly single him out.“Ken Griffin isn't a villain. He hasn't hurt anybody. He's not hurting New York. In fact, quite the opposite,” Bezos said.“That piece of it isn't right, and there was no reason to do that,” he added, referring to the public mention of Griffin’s penthouse.The proposed tax has become part of a broader political and economic debate in New York over wealth concentration, luxury real estate ownership and how the city should raise revenue without discouraging investment from billionaires.Get Latest real-time updatesStay updated with the latest Trending, India , World and US news. HomeNewsUs NewsNYC Mayor Zohran Mamdani’s luxury second-home tax proposal wins Jeff Bezos backingMore

Speaking to reporters ahead of a 9/11 memorial event in New York City, Mamdani outlined what he would say if he had a private moment with the monarch: “You know, if I was to speak to the king separately from that, I would probably encourage him to return the Koh-i-Noor diamond.”Britain's King Charles standing next to Queen Camilla interacts with New York City Mayor Zohran Mamdani during a visit to the 9/11 Memorial, in New York City, U.S., April 29, 2026. REUTERS/Jeenah Moon/Pool(REUTERS)New York City Mayor Zohran Mamdani said on Wednesday (April 29) he would use any opportunity to speak with King Charles III to raise the issue of returning the Koh-i-Noor diamond to India.Speaking to reporters ahead of a 9/11 memorial event in New York City, Mamdani outlined what he would say if he had a private moment with the monarch: “You know, if I was to speak to the king separately from that, I would probably encourage him to return the Koh-i-Noor diamond.”The planned event—a wreath-laying at Ground Zero—comes as the city approaches the 25th anniversary of the September 11 attacks.A diamond with a contested pastThe Koh-i-Noor diamond, whose name means “Mountain of Light,” is one of the most famous and disputed gemstones in the world. It is believed to have been discovered in South India as early as the 13th century and passed through numerous rulers over centuries.In 1849, the diamond came into British possession following the annexation of Punjab. As part of the Treaty of Lahore, the region’s young ruler was compelled to cede sovereignty and hand over the gem to the British Crown.Part of the British crown jewelsToday, the diamond is part of the British Crown Jewels. It was set into the crown of Queen Elizabeth The Queen Mother—the wife of King George VI and mother of Queen Elizabeth II.The crown, featuring the diamond, is currently on public display at the Tower of London, where it remains a major historical attraction.Calls for repatriationIndia has long called for the return of the diamond, arguing it was taken under colonial rule. It is not alone—several other countries have also laid claim to the gem, citing historical ownership.Stay updated with the latest Trending, India , World and US news. HomeNewsUs NewsMamdani says he would urge King Charles III to return Kohinoor to India if given the chance to speak with himMore