""The reality is that you can't propose budget after budget that vilifies employees and then be surprised when they decide to go somewhere else," Fulop told The Post."
"Apollo expects most of its future hiring to be in the second hub rather than Manhattan, according to a statement from the firm."
"Mamdani has cast a projected $5.4 billion budget shortfall in the city budget as a crisis that can only be fixed with more taxes to build revenue."
"Florida has already lured heavyweights like Citadel and Elliott Management, while Goldman Sachs and JPMorgan are hunkering down in Texas."
Apollo Global Management is contemplating establishing a second headquarters in the Sunbelt as New York City's mayor proposes increased taxes on large corporations. This decision reflects a growing concern over the city's business climate. Apollo's leadership has surveyed employees about potential relocation to Texas or Florida, both of which offer no personal income tax. The firm anticipates that most future hiring will occur in this new hub rather than in Manhattan, signaling a significant shift in its operational strategy.
Read at New York Post
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