New York City Mayor Zohran Mamdani has launched a new Business Advisory Council composed of 15 CEOs in an effort to bridge the divide between his administration and the city's business elite. The move comes after a period of public friction, including Mamdani's vocal criticism of billionaires and the implementation of a pied-à-terre tax.
The council aims to provide direct input to City Hall on key economic sectors, including finance, technology, real estate, sports, entertainment, and healthcare. Quarterly meetings will be held with Mamdani and Deputy Mayor for Economic Justice Julie Su.
Prominent members include Hamdi Ulukaya, CEO of Chobani; Kruti Patel Goyal, CEO of Etsy; Keia Clarke, CEO of the New York Liberty; John D’Angelo, President and CEO of Northwell Health; Priscilla Sims Brown, President and CEO of Amalgamated Bank; and restaurateur Marcus Samuelsson. The council represents leaders across various industries, though tech and Wall Street executives were notably absent from the initial group.
Mamdani's previous stances against the wealthy, including a campaign pledge that "billionaires should not exist," led to criticism from prominent figures in the financial world. JPMorgan CEO Jamie Dimon had characterized Mamdani's platform as "ideological mush," and hedge fund investor Ken Griffin had publicly expressed concern following a viral video Mamdani posted in front of Griffin's penthouse on Tax Day. "When I ran for mayor, I said I was going to tax the rich," Mamdani said in the video, before declaring, "Well, today, we're taxing the rich."
In recent months, Mamdani has signaled a shift in his approach, meeting with figures like Dimon and Goldman Sachs CEO David Solomon. "The doors of City Hall are always open to New York’s business leaders, and I look forward to welcoming their experience and strategic guidance as we build a stronger, more dynamic economy," Mamdani stated in relation to the new council. He added, "This council brings together the people building the next generation of New York’s economy—in finance, tech, life sciences, and beyond—to help us double down on what makes this city the best place on Earth to start a company, grow a business, and build a career."
Sources indicated that some executives initially approached for the council cited time commitments, media attention, or company clearance as reasons for declining participation. Kathryn Wylde, former CEO of the Partnership for New York City, noted that the council represents an "honest effort by the mayor to get direct input from a group of business people that are not part of his natural constituency" and that Mamdani is learning to navigate communication with this demographic.