Real estate tycoon Steve Roth, CEO of Vornado Realty Trust, has declared that the phrase “tax the rich” becomes as hateful as racial slurs when politicians use it with contempt.
During an earnings call on Tuesday, Roth compared the expression to derogatory racial epithets and even the term “from the river to the sea,” calling it a toxic element in political discourse.
Roth criticized New York Mayor Zohran Mamdani for promoting his pied-a-terre tax initiative by standing in front of Citadel CEO Ken Griffin’s $238 million Manhattan residence. Griffin described the video as “creepy and weird” during a speech at the Milken Institute’s Global Conference, noting the recent killing of UnitedHealthcare’s CEO just blocks from his home.
According to an internal email, Citadel’s Chief Operating Officer Gerald Beeson indicated that the firm may pause redevelopment plans for 350 Park Avenue—a project that would generate over $6 billion in spending and create more than 6,000 construction jobs initially, with potential for 15,000 permanent positions.
Roth condemned Mamdani’s actions as “irresponsible and dangerous” during a six-minute segment of the earnings call. He argued that the wealthiest Americans occupy their position at the top of the economic pyramid for a reason and suggested that Mamdani should work with business leaders to elect candidates who align with mainstream values.
Roth, who donated to former Governor Andrew Cuomo in the recent mayoral race, emphasized the need for city officials to foster positive relationships with business communities.
