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Fortune
Fortune
Irina Ivanova, Nino Paoli

Business leaders are threatening to leave New York City amid the unlikely ascension of Zohran Mamdani. This scenario has played out before—here’s what happened

(Credit: Barry Williams/New York Daily News/Tribune News Service via Getty Images)
  • New York’s richest are balking at the mayoral frontrunner’s tax-the-rich proposal to make the city more affordable for working people. It’s a meltdown as old as time—but picking up and leaving isn’t as easy as it sounds.

With a leftist New York City politician appearing likely to be the Democratic mayoral candidate for the U.S.’ largest city, business interests are melting down over the prospects of his tax-the-rich platform aimed at improving basic services.

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