‘Capital Is Mobile’: Hugh Hewitt Names Which City Would Get All Of NYC’s Banking And Finance If Mamdani Wins

Radio host Hugh Hewitt said Friday on Fox News’ “Hannity” that he believes Miami will get all of New York City’s “banking and finance” if Democrat mayoral nominee Zohran Mamdani wins in November.

The socialist Democrat assemblyman secured the nomination Tuesday after former New York Gov. Andrew Cuomo conceded before the race was officially called. While discussing the city’s potential new leadership, guest host Kellyanne Conway asked Hewitt what his message would be to business owners as Mamdani pushes tax hikes on high earners.

“I think that they ought to be on alert and try and do everything they can to defeat Mr. Mamdani or they’re going to have to leave,” Hewitt said. “I said today on an earlier Fox program, I expect Miami is rooting for Mr. Mamdani because they’re going to get all the banking and finance that leaves New York City, a city of 8 million people. But there’s a huge sector of finance and banking that will flee from this. And capital is mobile.”

Since Mamdani’s primary win, major business leaders like billionaire hedge fund manager Bill Ackman have voiced concerns over how his policies could hurt the country’s largest city. In a post on X, Ackman called Mamdani’s proposals “dangerous and economically unviable,” warning that “the city cannot print money, and this federal government won’t bail NYC out if things go bad.”

Hewitt went on to warn homeowners and parents in the city, calling Mamdani the “most radical” candidate he’s seen nominated for major office in the U.S. (RELATED: Megyn Kelly Guest Describes What ‘Deranged’ Mindset Led Progressives To Hand NYC To Socialist Nominee)

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“I also want to warn people he’s on the warpath against housing. He wants to regulate rents,” Hewitt said. “All that does is make housing scarcer and drive up rents. He’s on a campaign against basic centrism. He’s the most radical candidate that I’ve ever seen nominated for a major office in any United States political race.”

“He’s that radical. Parents in New York City have got to worry, as well as businesspeople, because he has a direct impact on their schools. I think it would be a disaster for this guy to win, but it’s New York City,” Hewitt added.

While some Democrats like New York Rep. Alexandria Ocasio-Cortez and Independent Sen. Bernie Sanders have backed Mamdani, others— along with GOP lawmakers — have raised concerns over his agenda.

Mamdani has pledged to raise the minimum wage to $30, impose a state-level corporate tax, and apply a 2% flat tax on high earners. The mayoral nominee claims the hikes would help in part raise $10 billion to fund free childcare, public transit and government-run grocery stores.

Mamdani has also pushed back against the Trump administration’s immigration crackdown, vowing to “Trump-proof” the city by ending cooperation with ICE and allocating over $160 million to immigration legal funding — even as most voters support deportations.

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