Apollo Global Management — a $900 billion asset manager — is plotting a second U.S. headquarters in the Sunbelt as New York’s democratic socialist mayor pushes to soak big business with tax hikes to plug a $5.4 billion budget hole. Leaders have already polled partners and managing directors on where they’d rather relocate their families and bonuses: Texas or Florida. Both have zero state income tax.
Steve Fulop, president and CEO of the Partnership for New York City, framed it bluntly: "The reality is that you can't propose budget that vilifies employees and them surpised when they dicide to go somewhere else."
Apollo isn’t just opening a satellite office. According to a statement from the firm, most future hiring will happen at second hub — not Manhattan. That’s not hedging. That’s a company telling New York it’s already lost the next generation of jobs.
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— M.A. Rothman (@MichaelARothman)March 29, 2026
Apollo Global Management — a $???????????? ???????????????????????????? asset manager — is plotting a second U.S. headquarters in the Sunbelt as New York’s democratic socialist mayor pushes… pic.twitter.com/ygxq0Fx1g6