Penthouse pieds-à-terre: Bezos, Trump, and other billionaires facing Mamdani's proposed tax - Business Insider

New York Assemblymember Zohran Mamdani has proposed a new tax targeting luxury pieds-à-terre, which would affect billionaires like Jeff Bezos and President Donald Trump. This legislative effort aims to generate revenue from high-value, non-primary residences in New York City. The proposal specifically targets properties owned by individuals who do not primarily reside in New York, often used as secondary homes. If passed, this tax could significantly increase housing costs for wealthy non-residents with luxury properties. The measure seeks to address wealth inequality and housing affordability within the state.