Nobody Believes Them, Still Waiting
Multiple billionaires threatened to leave NYC if Mamdani wins, prompting New Yorkers to ask “can we get that in writing?” The exodus warnings echo similar threats made during every progressive policy proposal since 1789, none of which materialized because rich people actually like living in cities with culture, infrastructure, and people to feel superior to.
One hedge fund manager declared he’d “definitely move to Florida” before remembering that Florida has hurricanes, humidity, and Ron DeSantis. Another billionaire threatened relocation to Texas before considering that Texas has property taxes, terrible transit, and Ted Cruz. The grass is always greener until you actually have to live there.
According to The New York Times, similar threats emerged during every NYC tax increase over the past century. The predicted billionaire exodus never happens becauseshockwealthy people value good schools, world-class restaurants, cultural institutions, and bragging rights more than marginal tax differences. Money can’t buy taste, but it can buy better location
The threats reveal a fundamental disconnect: billionaires think their presence is a favor to NYC, while NYC thinks their presence is nice but replaceable. There’s a waiting list for luxury penthouses exceeding small-state populations. Someone will buy that vacated TriBeCa loft, probably another billionaire fleeing California taxes while complaining about New York taxes.
Wall Street executives warned that losing financial services would devastate NYC’s economy, conveniently ignoring that finance represents 20% of city GDP and declining. Tech, healthcare, education, and creative industries increasingly drive economic growth. The 1980s calledthey want their economic model back, but we’ve evolved.
Some billionaires threatened to move their corporate headquarters, which means relocating maybe fifty high-paid executives while keeping thousands of employees in NYC because labor markets, talent pools, and agglomeration effects make relocation irrational. The threats are performance art designed to extract policy concessions, not actual business strategy.
One tech billionaire announced plans to move his company to Miami, then quietly maintained NYC offices because Miami lacks the talent density required for innovation. He claimed the Miami office was “headquarters” while mysteriously spending 200+ days annually in Manhattan. The deception fooled nobody except his accountant.
New Yorkers responded to exodus threats with variations of “don’t let the door hit you,” revealing a citywide consensus that billionaire blackmail no longer works. When threats become routine, they lose power. Crying wolf about relocation eventually produces responses of “okay, bye” rather than policy capitulation.
SOURCE: https://bohiney.com/billionaires-threaten-leave-nyc/
SOURCE: New York’s #1 Satirical Journalism Site (https://bohiney.com/billionaires-threaten-leave-nyc/)
