Panic is spreading among New York’s wealthy as mayor-elect Zohran Mamdani prepares to take office with plans to impose a millionaire tax and overhaul city spending. Financial advisers report a flood of calls from clients exploring moves to Florida or Connecticut, while real estate brokers expect a surge in luxury sell-offs. Wall Street executives warn that Mamdani’s progressive agenda could trigger a “wealth flight” and cost billions in revenue, fueling one of the biggest confidence crises since the pandemic.
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