BlackRock CEO Larry Fink says he is worried about New York City’s business environment under Mayor Zohran Mamdani’s administration. In comments reported by multiple outlets, Fink points to the city’s tax structure and argues that the tax burden on residents is not justified by the level of services provided. He highlights that nearly half of New York City’s tax revenue comes from the top 1% of taxpayers, using this to frame concerns about the overall impact of current tax policies. Fink also says policymakers should prioritize economic growth rather than focusing primarily on tax policy, suggesting that an approach centered on growth would be more supportive of investment and business conditions. He adds that if conditions in New York weaken, BlackRock could adjust how it allocates its resources in the United States, including potentially investing or deploying a larger share of its American resources outside the city.