Andrew Tobias, a New York City millionaire and financial writer, is a member of the Patriotic Millionaires and supports higher taxes on the wealthy, particularly in New York City, which he views as „worth supporting.” However, he believes that wealthy taxpayers should be celebrated rather than vilified, even suggesting Mayor Zohran Mamdani should send them thank-you notes and fruit baskets. This stance comes amid Mamdani’s campaign promises to raise taxes on the rich to fund universal childcare and free buses, including a new pied-à-terre tax that doubled property taxes on second homes worth over $5 million. While some wealthy individuals, like Citadel CEO Ken Griffin, have criticized the tax as discriminatory, Tobias argues that successful taxpayers who contribute substantially should be respected and thanked for their contributions to the city.
Tobias, now 79, amassed his wealth through his bestselling book „The Only Investment Guide You’ll Ever Need” and the personal finance software „Managing Your Money,” along with profitable real estate investments in Miami. He splits his time between an Upper West Side apartment purchased in 1977 (now worth about $2.5 million) and a Fire Island beach house, wintering in Miami. His income includes Social Security, a charitable gift annuity, royalties, and IRA withdrawals, with significant expenses going to taxes—$350,000 in city and state taxes in 2025—and charitable giving to organizations like buildOn, Success Academy, and the Amazon Conservation Team.
Despite his current support for higher taxes, Tobias previously moved to Miami in the 1980s after a dispute with New York City’s Department of Finance over unincorporated business taxes, which he felt were unfairly applied to his out-of-state work. He followed through on his threat to relocate, using the tax savings for charitable donations, which he found more rewarding. After 25 years, he returned to New York to be near loved ones, accepting higher taxes as part of living in a city he loves.
Tobias describes himself as frugal in some ways—avoiding cars, using public transit, and even eating expired food—but extravagant in others, spending on historical documents, art, and New Yorker cartoons. He travels, enjoys dinners with friends, and remains politically active, including serving as Treasurer of the Democratic National Committee. Without children of his own, he channels his resources into supporting causes he believes in, stating, „I get to raise Democrats,” and considers himself a very lucky individual.
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Forrás: https://www.businessinsider.com/new-york-city-millionaire-wants-his-taxes-raised-2026-7#article.