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How wealthy New Yorkers could be impacted by Mamdani's policies

CNBC · Recent
CNBC
CNBC
Recent

CNBC's Robert Frank joins 'Squawk on the Street' with the latest news on how wealthy New Yorkers are planning for a potential Zohran Mamdani administration, top concerns among business leaders, and more.

Breakdown
  • Mamdani's primary win has led to concerns among wealthy New Yorkers and business leaders.
  • Some developers are freezing projects and business owners are considering leaving if taxes rise. 16s
  • Mamdani proposes a 2 percent income tax on those earning over $1 million, but only the state can approve such changes. 31s
  • Luxury real estate sales remain strong despite concerns, and New York's ultra-wealthy population continues to grow. 1m 4s
  • Public safety and Mamdani's approach to policing are also major concerns for residents. 2m 0s
PoliticsEconomy