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.
“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.