New York City’s super-rich cry foul over proposed tax on second homes
- Posted on April 16, 2026
- By Financial Times
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- 1 min read
In brief
New York City's wealthiest residents are challenging a proposed taxation initiative targeting second home ownership, with prominent investment professionals expressing concerns about perceived anti-philanthropy sentiment. The policy debate highlights growing tensions between municipal revenue strategies and the city's elite stakeholders who claim their charitable contributions are being overlooked in fiscal policymaking discussions.
New York City’s super-rich cry foul over proposed tax on second homes
Billionaire hedge fund managers accuse mayor Zohran Mamdani of ‘demonising philanthropists’
