NYC Mayor Forms CEO Council to Repair Business Relations

New York City Mayor Zohran Mamdani appears to be feeling the chill of public reaction after his viral videos shamed billionaires. The fallout has pushed him toward a new strategy: reaching out directly to corporate leaders. To signal this shift, he is launching a fresh advisory council populated entirely by CEOs.

The mayor previously took hardline stances against the ultra-wealthy. He campaigned on slogans declaring that billionaires should not exist and unveiled plans for a pied-à-terre tax in a video message filmed directly outside hedge fund manager Ken Griffin's penthouse. That move sparked significant backlash. Now, he is trying to repair bridges with the city's elite by offering an olive branch through this new group.

The Business Advisory Council will feature top executives from companies like Chobani, Etsy, and the WNBA New York Liberty team. Hamdi Ulukaya, the billionaire head of Chobani, had already asked Mamdani for a regular dialogue with business people back in April. Kathryn Wylde, former CEO of the Partnership for New York City and present at the meeting, told the Wall Street Journal that this represents an honest attempt to gather input from outside the mayor's usual political base.

Wylde noted that Mamdani is not accustomed to messaging this specific group. He likely does not anticipate how they will respond to his various policies or public statements. This lack of experience could explain why he is scrambling to rebuild trust after his controversial rhetoric.

Fifteen business leaders have agreed to join the council. They will meet quarterly with Mamdani and Deputy Mayor for Economic Justice Julie Su, according to an official announcement from the mayor's office. The group will offer guidance on critical areas including finance, technology, real estate, sports, entertainment, retail, and healthcare.

The roster includes Keia Clarke of the New York Liberty, Kruti Patel Goyal of Etsy, Brandon Blackwood of his namesake fashion brand, John D'Angelo of Northwell Health, Priscilla Sims Brown of Amalgamated Bank, and Marcus Samuelsson, the acclaimed chef. The council draws from sectors like healthcare, fashion, sports, food, and finance.

However, notable gaps remain in the lineup. Tech giants and Wall Street titans are conspicuously absent. Mamdani's past clashes with figures such as Ken Griffin, Bill Ackman, Ronald Lauder, and Jamie Dimon have left deep scars on his relationship with these industries. The new council aims to heal those wounds, but the exclusion of major financial and technology leaders suggests this effort is still in its early stages.

Before the official announcement hit the wires, The New York Times learned that Jose Tavarez, president of Bank of America for New York City, Ken Chenault, former chief executive of American Express, and Charles Phillips, a private equity executive, were approached to join the council but ultimately declined. A spokesperson for the mayor's office told the Times they could not discuss specific conversations with candidates, noting that some executives choose not to participate due to time commitments, media attention, or clearance from their companies. This step comes after fierce criticism from the New York elite and public rifts with prominent members following Panic set in after Mamdani's historic win that the Democratic Socialist mayor would cause a 'billionaire exodus.'

JPMorgan CEO Jamie Dimon called Mamdani's campaign platform 'the same ideological mush that means nothing in the real world.' The business council includes leaders in fashion, sports and finance. Dozens of billionaires contributed to political action committees to defeat Mamdani, prompting the then-mayoral candidate to declare at one of his rallies: 'Billionaires like Bill Ackman and Ronald Lauder have poured millions of dollars into this race because they say that we pose an existential threat.' And I am here to admit something. They are right. We are an existential threat to billionaires who think their money can buy our democracy.'

Mamdani kept his promise by implementing a pied-à-terre tax, a property tax surcharge on high-value second homes. The mayor posted a video on Tax Day in front of Griffin's Manhattan penthouse that quickly went viral. 'When I ran for mayor, I said I was going to tax the rich,' Mamdani said, before tapping the camera lens, and declaring, 'Well, today, we're taxing the rich.' The video created a firestorm from New York's business elite, with Griffin himself condemning it as 'frightening,' claiming it left him in fear for his life.

When asked for comment on Mamdani's advisory council, a representative for Griffin told The Wall Street Journal: 'I don't think this is a piece that needs Ken's voice.' The move is the mayor's latest attempt to extend an olive branch. He met with JPMorgan CEO Jamie Dimon earlier this year after the executive called his policies 'ideological mush'. Hedge fund investor Ken Griffin previously sparred with Mamdani over a video message in front of his Manhattan penthouse.

In recent months, Mamdani has softened his tone on billionaires, meeting with Dimon and Goldman Sachs CEO David Solomon in May. 'The doors of City Hall are always open to New York's business leaders, and I look forward to welcoming their experience and strategic guidance as we build a stronger, more dynamic economy,' the mayor said in a statement about his new Business Advisory Council. This council brings together the people building the next generation of New York's economy, in finance, tech, life sciences, and beyond, to help us double down on what makes this city the best place on Earth to start a company, grow a business, and build a career. We want the most ambitious people in the world to come here, stay here, and build here.' The Daily Mail has reached out to the mayor's office for additional comment.