During a quarterly earnings call, Steve Roth, the billionaire CEO of Vornado Realty Trust, controversially compared the phrase 'tax the rich' to racial slurs, asserting that it is expressed with anger and contempt by politicians. Roth's comments came in response to New York Mayor Zohran Mamdani's announcement of a new 'pied-à-terre' tax targeting second homes valued over $5 million, which he criticized as irresponsible. Roth defended fellow billionaire Ken Griffin, whose penthouse was highlighted during the announcement, stating that the wealthy should be praised for their contributions to society. He noted that Vornado paid $560 million in real estate taxes this year and emphasized that the top 1% contributes significantly to New York's economy. Roth also expressed optimism for Mamdani's leadership, suggesting that with adjustments, he could enhance the city's growth by focusing on expanding the tax base rather than increasing taxes.