Billionaire Finance CEO Responds To Mamdani - Then MOVES $900 BILLION To Austin

Apollo Global Management was born in New York in 1990, built by three dealmakers who refused to scatter after the collapse of Drexel Burnham Lambert. Thirty-six years later, the firm that grew from distressed debt into a trillion-dollar giant—one that has owned Twinkies, Chuck E. Cheese, ADT, and Yahoo, and stands behind millions of American annuity checks through Athene—announced on August 3rd that its second headquarters, and by its own words the home of most of its future growth, will be in Austin, Texas. In this breakdown, we examine what led a firm created in New York, listed in New York, and taxed in New York all the way to a trillion dollars to place its next decade fifteen hundred miles away, including the tax math behind the decision and the $1.276 billion income tax bill sitting in Apollo's own filings. We also trace the broader pattern Apollo now joins: Citadel pledging jobs to Miami, Wells Fargo moving its wealth management division to West Palm Beach, Goldman Sachs building its largest campus outside New York in Dallas, and JPMorgan now employing more people in Texas than in New York. The video weighs the counterarguments as well—Apollo's global headquarters remains in Manhattan, the proposed city tax hikes still require Albany's approval, and researchers note that tax-driven migration is often smaller than headlines suggest. But with the city facing a multibillion-dollar budget shortfall and a tax base heavily dependent on finance, the question is whether New York's leadership is reading the warning signs or dismissing them. Turn on notifications to stay updated! 🔔🔔🔔