New York City Mayor Zohran Mamdani’s vision of a socialist utopia for the Big Apple has hit a shocking, but predictable, snag.
He’s out of money!
Just months into his term, Mamdani stood before the cameras last Tuesday to announce that the Big Apple is facing a budget crisis of “historic magnitude” and is now begging New York state leaders for a bailout.
“We cannot close this deficit with savings alone,” Mamdani lamented.
“We need new revenue.”
WARMTH OF COLLECTIVISM UPDATE: Mayor Zohran Mamdani declares a "budget crisis," asks for a bailout from the state government, and pushes back his deadline for completing the city budget at least 10 days:
"We cannot close this deficit with savings alone. We need new revenue, and… pic.twitter.com/KR0FD5YqbE
— Breitbart News (@BreitbartNews) April 28, 2026
However, don’t expect some of New York’s most wealthy to suddenly help kick-start anything to get his initiatives back on track.
Back in June 2025, when asked by NBC’s Kristen Welker if billionaires have a “right to exist,” Mamdani quickly said: “I don’t think that we should have billionaires,” he declared, citing the “inequality” of it all.
He followed that up recently with a TikTok-style campaign, filming a “tax the rich” video in front of Ken Griffin’s $238 million penthouse, the most expensive home in America.
It was a $6 billion mistake.
However, shortly after Mamdani’s social media escapade, Citadel — the firm Griffin already moved to Miami — signaled it might kill its massive redevelopment at 350 Park Avenue.
The plan was slated for a 62-story skyscraper, generating 6,000 construction jobs, and 15,000 permanent positions, which was estimated to bring $6 billion BACK to New York City.
However, that’s off the table now.
According to reports, Citadel employees have already poured $2.3 billion in taxes into New York’s coffers over the last five years.
However, Mamdani has continued to insist that those people aren’t “carrying their fair share.”
Other wealthy New Yorkers and real estate experts are now suddenly flocking to southern U.S. havens like Florida.
But Mamdani is now floating a “crisis” and demanding a “structural reset.”
Where will that money come from? It’s anybody’s best guess at this point.