Mayor Zohran Mamdani's new tax on high-end second homes took effect July 1, and real estate brokers say it is already freezing buyers, inflating the luxury rental market, and pushing wealthy purchasers out of New York City altogether. A month into the policy, the picture emerging from Manhattan's brokerage offices is blunt: international buyers are […] The post Mamdani's pied-à-terre tax is one month old — and Manhattan's luxury market is already paying the price appeared first on American Almanac .
Mayor Zohran Mamdani's new tax on high-end second homes took effect July 1, and real estate brokers say it is already freezing buyers, inflating the luxury rental market, and pushing wealthy purchasers out of New York City altogether. A month into the policy, the picture emerging from Manhattan's brokerage offices is blunt: international buyers are walking away from signed deals, sellers are listing properties they once planned to keep, and six-figure-a-month rental units are filling up with people who would have bought if the city had not added a new annual bill on top of already steep property taxes. The tax applies to second homes valued above $5 million, starting at a 4-percent annual rate and climbing to 6.5 percent under the first…Open
Situational Awareness, an AI -focused hedge fund founded by a former OpenAI researcher, has sold all of its public equities portfolio to Ken Griffin's Citadel, a source tells Axios. Why it matters: This comes amidst a recent sell-off in AI stocks, particularly chipmakers. - News of a sale was first reported by the WSJ . Catch up quick: Former OpenAI researcher Leopold Aschenbrenner founded Situational Awareness after being fired from OpenAI in 2024, over an alleged information leak that he disputes. It recently reported around $20 billion in assets under management. - Early investors included Stripe cofounders Patrick and John Collison, plus former GitHub CEO Nat Friedman, and ex-Apple employee Daniel Gross. Zoom in: Just yesterday, the…
Situational Awareness, an AI -focused hedge fund founded by a former OpenAI researcher, has sold all of its public equities portfolio to Ken Griffin's Citadel, a source tells Axios. Why it matters: This comes amidst a recent sell-off in AI stocks, particularly chipmakers. - News of a sale was first reported by the WSJ . Catch up quick: Former OpenAI researcher Leopold Aschenbrenner founded Situational Awareness after being fired from OpenAI in 2024, over an alleged information leak that he disputes. It recently reported around $20 billion in assets under management. - Early investors included Stripe cofounders Patrick and John Collison, plus former GitHub CEO Nat Friedman, and ex-Apple employee Daniel Gross. Zoom in: Just yesterday, the…Open
A self-styled grassroots organization campaigning to block Success Academy charter schools from expanding into Miami-Dade County is led by a Democratic operative with multiple arrests, more than $44,000 in unpaid civil judgments, and a co-founder whose wages are being garnished. Moms for Libros launched its "Our Schools Miami" campaign in late June, urging parents to […] The post Democratic operative behind Miami anti-charter-school group carries arrest record, unpaid judgments, and a revoked tax exemption appeared first on American Almanac .
A self-styled grassroots organization campaigning to block Success Academy charter schools from expanding into Miami-Dade County is led by a Democratic operative with multiple arrests, more than $44,000 in unpaid civil judgments, and a co-founder whose wages are being garnished. Moms for Libros launched its "Our Schools Miami" campaign in late June, urging parents to pressure school board members and rally alongside the local teachers' union to stop five Success Academy elementary schools approved to open in Miami-Dade by fall 2027. The group's website frames the fight as a stand against "a New York charter network, backed by a billionaire" that is "moving into five Miami-Dade public high schools, without community input, with a…Open
Republican megadonor Ken Griffin said at a private conference Wednesday that he'd support Secretary of State Marco Rubio over Vice President JD Vance in a 2028 GOP presidential primary, Axios has learned. Why it matters: Griffin is one of the most prolific donors in the Republican Party — he gave more than $100 million in 2024 — and would be a huge asset to Rubio if the secretary of state were to run for president. - Griffin's comments reflected the emerging split in the GOP between establishment-minded figures like Griffin, who want Rubio to run, and anti-establishment types who prefer Vance — in part because of the VP's reluctance to involve the U.S. in foreign conflicts. Behind the scenes: Griffin was interviewed at the…
Republican megadonor Ken Griffin said at a private conference Wednesday that he'd support Secretary of State Marco Rubio over Vice President JD Vance in a 2028 GOP presidential primary, Axios has learned. Why it matters: Griffin is one of the most prolific donors in the Republican Party — he gave more than $100 million in 2024 — and would be a huge asset to Rubio if the secretary of state were to run for president. - Griffin's comments reflected the emerging split in the GOP between establishment-minded figures like Griffin, who want Rubio to run, and anti-establishment types who prefer Vance — in part because of the VP's reluctance to involve the U.S. in foreign conflicts. Behind the scenes: Griffin was interviewed at the…Open
A new Democratic insurgency looks a lot like the GOP’s agitation of yesteryear. The post The Mamdani Wave’s Republican Harbinger appeared first on The American Conservative .
Politics Politics The Mamdani Wave’s Republican Harbinger A new Democratic insurgency looks a lot like the GOP’s agitation of yesteryear. The editors at the New York Post couldn’t hide their animosity. “The Hateful Slate” read Wednesday’s screaming headline over an image of New York City Mayor Zohran Mamdani celebrating with Darializa Avila Chevalier, one of three Democratic Socialists backed by Mamdani who won their Congressional campaigns in New York state on Tuesday night. It was a clean sweep for Mamdani, who watched as Chevalier, Brad Lander, and Claire Valdez toppled…Open
Ken Griffin, the hedge fund manager, looks for artworks with a “wow” factor, never mind the number of zeros on the price tag. Ten of his Basquiats are on loan to the Pérez Art Museum Miami.
America's billionaires are developing their own prescriptions for AI-fueled inequality, anxious to defuse a populist revolt aimed at their ballooning fortunes. Why it matters: The AI boom has dramatically raised the stakes of the wealth-tax debate, unleashing a technology that could wipe out millions of jobs while minting the world's first trillionaires. - Populist politicians, particularly on the left, have cast this as capitalism's next great reckoning : an even deeper concentration of wealth and power in an economy already rigged for the elite. Zoom in: Some of the richest men in tech have warned for years AI could destabilize the economy. Many suggest the answer is not deceleration or wealth taxes, but shared abundance. - Jeff…
America's billionaires are developing their own prescriptions for AI-fueled inequality, anxious to defuse a populist revolt aimed at their ballooning fortunes. Why it matters: The AI boom has dramatically raised the stakes of the wealth-tax debate, unleashing a technology that could wipe out millions of jobs while minting the world's first trillionaires. - Populist politicians, particularly on the left, have cast this as capitalism's next great reckoning : an even deeper concentration of wealth and power in an economy already rigged for the elite. Zoom in: Some of the richest men in tech have warned for years AI could destabilize the economy. Many suggest the answer is not deceleration or wealth taxes, but shared abundance. - Jeff…Open
Seattle’s economic warning signs are getting harder to ignore. Businesses are considering leaving Washington state, and major employers are sounding the alarm. Thoughts? For complete Medicare guidance, dial (646) 817-8160 to speak with my trusted partner, Chapter, or go to https://askchapter.org/nellie Please head to the website to purchase some merch: www.nelliemiranda.com
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CNN turns on Zohran Mamdani after his billionaire stunt sparks backlash and fears of wealthy taxpayers leaving NYC. THOUGHTS? For complete Medicare guidance, dial (646) 817-8160 to speak with my trusted partner, Chapter, or go to https://askchapter.org/nellie Please head to the website to purchase some merch: www.nelliemiranda.com
