Real estate magnate Steven Roth likens Mamdani’s ‘tax the rich’ to ‘from the river to the sea'

Lead

New York City real estate billionaire Steven Roth drew sharp comparisons this week when he likened the phrase "tax the rich" to racial slurs and a pro-Palestinian slogan during a quarterly earnings call for his company, Vornado Realty Trust. Roth, a longtime supporter of former President Donald Trump, also voiced support for fellow billionaire Ken Griffin, CEO of Citadel, who was the focus of Mayor Zohran Mamdani's recent proposal to impose a new tax on luxury second homes.

Coverage Comparison

Roth's remarks, made on Tuesday, were reported by both The Guardian and the Jerusalem Post, with each outlet emphasizing different aspects of the story. The Guardian's coverage focused on Roth's defense of the wealthy and his characterization of "tax the rich" rhetoric, while the Jerusalem Post highlighted the Jewish business community's concerns about Mamdani's leadership and past statements on Israel.

Both outlets quoted Roth directly, including his statement that the phrase "tax the rich" can be "just as hateful as some disgusting racial slurs," a comparison he extended to the phrase "from the river to the sea." The Jerusalem Post noted that the latter phrase is considered antisemitic by many Jewish groups, a context that The Guardian's report did not emphasize as prominently.

Key Claims

• Roth said the phrase "tax the rich" is "just as hateful as some disgusting racial slurs" and compared it to "from the river to the sea," a pro-Palestinian slogan. Both sources reported this quote.
• Roth expressed support for Ken Griffin, criticizing Mamdani for singling him out in a video announcing the "pied-à-terre" tax on second homes valued at more than $5 million. The policy was announced on April 15 outside Griffin's penthouse, reportedly purchased for $238 million.
• Roth said Vornado Realty Trust has paid $560 million in real estate taxes this year, adding that the company followed the rules and paid its fair share. This figure was reported by The Guardian but not independently verified.
• Roth suggested drafting Griffin to lead an effort to "elect right-minded candidates," a comment that was reported by The Guardian.
• Mamdani's office did not respond to a request for comment, according to The Guardian.
• The Jerusalem Post reported that some Jewish business leaders have expressed concerns about antisemitism under Mamdani's leadership, citing his views on Israel and his previous defense of the phrase "globalize the intifada." These claims were not addressed by The Guardian.

Perspectives

Roth's comments reflect the perspective of wealthy New Yorkers who feel targeted by Mamdani's progressive fiscal policies. "It is the 1% that makes 50% of New York's income taxes," Roth said, arguing that the rich "should be praised and thanked" rather than vilified. He accused the mayor of engaging in "irresponsible and dangerous" theatrics.

Mamdani's office did not respond to requests for comment, but the mayor's actions—announcing the pied-à-terre tax outside Griffin's penthouse—suggest a deliberate effort to spotlight income inequality. The tax, which would apply to second homes valued over $5 million, is part of Mamdani's broader agenda to address housing affordability in the city.

Some Jewish leaders in New York have expressed unease about Mamdani's past statements on Israel, including his defense of "globalize the intifada," which they view as inflammatory. This adds a layer of tension to the business community's opposition to his tax proposals.

Roth's comments also come amid a broader national debate over "tax the rich" rhetoric, which some critics argue unfairly demonizes successful individuals. Roth's invocation of a pro-Palestinian slogan—which he described as hateful—appeared to draw a parallel between economic populism and antisemitic or racist speech, a framing that likely will continue to spark discussion.