Jamie Dimon, the CEO of JPMorgan Chase, told New York City Mayor Zohran Mamdani to “do a better job” leading his city so that it does not keep struggling.

“You can talk about morality and ideology all you want,” Dimon told Bloomberg TV. “But if things don’t get better, you didn’t do a good job.”

“And my view, and I’m talking about him now, I have seen mayors who make statements, and they make it worse and worse and worse, you know, and they don’t know,” he went on to say.

“They can’t get the details of why is affordable housing not there anymore,” Dimon added. “‘Why does this not work?’ You know.”

“And so, you know, hopefully he’ll learn,” the JPMorgan Chase CEO stated on the program. “I want him to do a good job. I’m not against him.”

Mamdani recently scored a success in pushing through his agenda to “tax the rich.” New York Gov. Kathy Hochul (D) proposed a new tax supported by the mayor targeting second homes valued at over $5 million.

In a statement, City Hall stated that the proposal targets “ultrawealthy out-of-city residents and global elites who use New York City real estate as a vehicle for wealth storage rather than as homes.”

The mayor’s office emphasized high-profile property purchases as examples of underused luxury housing. Among them is the hedge fund billionaire Ken Griffin, who bought a Manhattan penthouse for $238 million in 2019. At the time, this was a record for a home sale in the United States.

If the measure is enacted, it could generate almost $500 million per year, according to City Hall estimates. Officials say the revenue will help address budget shortfalls and could be directed toward housing initiatives, but specific details have not been finalized.

Mamdani has surprised many by cultivating a close working relationship with President Donald Trump.