Dan OMahoneySchwartz

For a socialist who once opined that New York would be better off without billionaires, Zohran Mamdani — the mayor of a city with more billionaires than any other city on the globe — sure doesn’t mind basking in the investment boom that is currently sweeping through Gotham. “What we’re seeing is multibillion-dollar investments in our city and a recommitment to the very neighborhoods that not that long ago we were told would never rise again,” Mamdani told political columnist Errol Louis during a sit-down at Gracie Mansion. “It is truly an incredible day for our city and all the announcements we’ve heard about companies committed to the city’s future.” Less than a year ago, prominent New Yorkers were fearfully predicting that Mamdani and his fellow socialists would chase billionaires, commerce, and jobs out of New York. “We don’t want more people to leave New York. We don’t want businesses to leave New York,” billionaire investor John Catsimatidis said last November. “One percent of New Yorkers pay 48 percent of the taxes. If there’s an exodus, machine kaput.” But the trend is clear: big business is embracing the city maybe more than ever. “New York City may be led by a democratic socialist who spends a lot of time castigating big business and landlords and leading a progressive coalition determined to raise taxes on the wealthy and corporations,” writes business journalist Greg David in the City Reporter, “but leaders at some of the largest companies and professional service firms remain firmly committed to New York.” Read more from Louis: nymag.visitlink.me/4e9HIZ