“What’s happening here is politicians are ... picking a villain and pointing fingers,” the Amazon executive chair said.
Amazon Executive Chair Jeff Bezos on Wednesday accused politicians of villainizing the ultra-wealthy and using tax policy as a political wedge issue to distract from bigger challenges facing the country.
Get unlimited access to ad-free articles and exclusive content. CNBC’s “Squawk Box. ” “I think what’s going on is that it’s kind of a tale of two economies — so you have a bunch of people in this country who are doing really well, but you also have a bunch of people in this country who are struggling,” he said.
“So what’s happening here is politicians are using the kind of age old technique...you know, picking a villain and pointing fingers, but the problem is that doesn’t solve anything,” said Bezos. “Some people talk about making the tax system more progressive,” he said. “How about we start by having the nurse in Queens not pay taxes?
” It was unclear precisely which taxes Bezos was referring to.did not owe any individual income taxes for the 2024 tax year, according to the Tax Policy Center. This is in line with previous years and other public data. Bezos, meanwhile, is the fourth richest person in the world, with a net worth of more than $270 billion.
During the CNBC interview, Bezos, who moved to Miami, Florida and whose companies are headquartered in Washington state, repeatedly invoked the finances of New York City. Zohran Mamdani, the city’s mayor, has proven to be a popular foe of billionaires and millionaires since taking office in January.
Billionaires and high-end real estate agents warned that Mamdani’s victory last year and his policies would drive businesses and the wealthy out of New York City.at 270 Park Avenue, a sign that one of the largest employers in New York isn’t planning to leave any time soon. Sales at an even higher end of the market, units priced over $10 million, surged 80% in May from the year prior.
, alongside Mamdani, that it would build a brand new global headquarters in downtown Manhattan which will host more than 10,000 employees. But on tax day this year, April 15, Mamdani posted a now-viral video on social media in which he stood outside of 220 Central Park South, a residential building along what is known as Billionaires Row to declare, “We’re taxing the rich.
”, Mamdani announced a proposed “pied-à-terre” tax, which would apply to residential property owners who don’t live in the city full-time. Mamdani’s video showcased multiple high-end Manhattan buildings, but zeroed in on billionaire Ken Griffin, who bought a penthouse in the building for $238 million in 2019. The purchase ranks as the most expensive U.S. private home sale ever.
Griffin has a net worth of nearly $50 billion, Griffin fired back at Mamdani, threatening to alter plans for his company’s new office tower in Manhattan. Griffin also accused Mamdani personally of putting him in “harm’s way” by showing the building on video. He also referenced the 2024 killing of UnitedHealthcare CEO Brian Thompson in midtown Manhattan.
But Griffin’s purchase of the home and its address have been widely reported in the media since 2019, long before Mamdani was ever a candidate for mayor.approved a millionaires tax Massachusetts, Maryland and Maine have all passed dedicated high-income taxes in recent years. In January, the governor of Rhode Island endorsed the idea of a millionaire’s tax.
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