Major Wall Street powerhouse weighs southern move as Mamdani-led tax threats swirl

Source: New York Post

A major Wall Street powerhouse is weighing a southern escape as New York City’s new mayor talks about soaking big business with taxes, according to a report published Sunday. Apollo Global Management, a $900 billion asset manager, is plotting a second US headquarters in the Sunbelt just as Mayor Zohran Mamdani pushes to hike taxes on deep pocketed corporations, according to a report in the Financial Times. Steve Fulop, president and CEO of the Partnership for New York City, a business lobby group, framed Apollo’s move as a natural reaction to an increasingly unfriendly business climate in the Big Apple.