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Billionaires Lash Out After Zohran Mamdani Says There Shouldn’t Be Billionaires

  • Zohran Mamdani, Democratic candidate for New York City mayor, won the primary last Tuesday, campaigning on affordability and social programs while declaring billionaires shouldn’t exist.
  • Prompted by property tax inequity, Mamdani's 'Stop the Squeeze' plan aims to shift taxes to wealthier, whiter neighborhoods, addressing an unfair system.
  • Analysis shows Mamdani’s tax plan targets 123 billionaires, proposing a 2% levy on incomes over $1 million, projected to raise $9 billion in New York City.
  • Following Mamdani’s primary win, billionaires like Catsimatidis threatened to leave NYC and Loeb dubbed him 'Little Fidel,' signaling public panic among elites.
  • Beyond local polls, Mamdani's campaign has mobilized 37,000 new voters in two weeks, elevating NYC's political landscape to national prominence and signaling a shift towards progressive insurgency.
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Fox News broke the news in New York, United States on Sunday, June 29, 2025.
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