The Big Apple has long been associated with big money. According to research from Henley & Partners, New York City is the wealthiest city in the U.S. Millionaires, centimillionaires and even billionaires call Manhattan — or one of its neighboring boroughs — home.
But are the ultra-wealthy starting to think twice about living in NYC? Since the election of Zohran Mamdani as New York’s mayor, there’s been chatter in financial circles that the New Yorkers boasting the highest net worths, respectively, are leaving the city that never sleeps in light of Mamdani’s pledge to hike up taxes for millionaires. This includes a promise to impose a flat 2% tax on New Yorkers who earn more than $1 million per year, according to The Daily Economy.
