Miami Dolphins owner and billionaire real estate developer Stephen Ross has launched a stinging critique against New York City’s new mayor, Zohran Mamdani. During a recent talk with Bloomberg, the 85-year-old billionaire expressed deep concern over the city’s direction following Mamdani’s historic election victory.
Ross argued that Mamdani’s socialist approach to government has never been seen to work anywhere and questioned why it would be successful in the country’s largest financial hub. He believes that the policies being proposed will drive away businesses and wealthy residents, similar to the trends seen in other major cities.
The comments have added to the growing tension between the city’s business elite and the new administration. Mamdani, a 34-year-old Democratic Socialist, won the mayoralty on a platform of high taxes for the wealthy and expanded public services.
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Ross Blasts Zohran Mamdani In Scathing Warning For New York
Stephen Ross is now the second high-profile NFL owner to publicly criticize Zohran Mamdani, following similar remarks from New England Patriots owner Robert Kraft. Ross’s main grievance lies in what he calls “socialist policy proposals, which he believes will create an environment where corporations can no longer operate profitably.
The billionaire pointed to California as a cautionary tale, claiming that high taxes and heavy restrictions have already ruined cities like San Francisco. He noted that San Francisco is still struggling to recover from years of damage caused by similar government styles.
Ross also touched upon the proposed billionaire tax, stating that such measures have frightened every person in the business community. He argues that the government should have the least amount of interference to allow a city to thrive.
He Claims City Faces “Disaster” If Socialist Policies Take Hold Under Zohran Mamdani Leadership
The “disaster” Ross predicts is centered on the potential loss of the city’s tax base. Mamdani’s platform includes $10 billion in new annual spending, funded by a 2 percent surcharge on incomes over $1 million and higher corporate taxes.
Ross believes that the divisiveness of Mamdani’s rhetoric, which often casts billionaires and large corporations as the enemy, is a recipe for failure. He mentioned that it takes years to build a city’s reputation but only a short time to destroy it through interference and high costs.
As the Mamdani administration begins its first term, the battle between the socialist City Hall and the capitalist business world is only just beginning. While the mayor-elect has promised to make the city more affordable for the working class, Ross maintains that you cannot help the poor by destroying the rich.
Published: Jan 16, 2026 12:56 pm