Mayor Zohran Mamdani established a 15-member business advisory council after facing backlash from New York’s business elite over a video promoting a pied-à-terre tax shot outside Ken Griffin’s luxury apartment. The council, announced four months after Mamdani met with Chobani CEO Hamdi Ulukaya—who urged him to engage regularly with CEOs—includes leaders from the WNBA’s New York Liberty, investment, and insurance firms, but excludes major Wall Street banks, hedge funds, or private-equity firms. Mamdani, a prominent democratic socialist and member of the Democratic Socialists of America, sought advisors supportive of his agenda while navigating tensions with the city’s capitalist class.

Former Partnership for New York City CEO Kathryn Wylde, who attended the Ulukaya meeting, noted Mamdani is unaccustomed to messaging to this constituency and doesn’t always anticipate their reactions. Despite past clashes—including the controversial rollout of the pied-à-terre tax that mistakenly targeted full-time residents—Mamdani has recently made conciliatory gestures, such as visiting Jamie Dimon, reducing small-business red tape, and offering $100 U.S. Open tickets following a public exchange with Bill Ackman. The council aims to shape economic development policy, though it has yet to provoke a notable reaction.