Apollo Global Management plans a second HQ in Florida or Texas amid NYC's tough tax climate.

Apollo Global Management, a major private equity firm based in New York City, is planning to open a second headquarters in either Florida or Texas, potentially housing up to 1,000 employees. This move is driven by New York City's increasing tax burdens and a political climate seen as hostile to wealthy residents and businesses under Mayor Zohran Mamdani. Apollo is considering Miami, Palm Beach, and Austin for the new hub, attracted by lower taxes and pro-growth policies. This trend reflects a broader shift as other firms like Citadel and JP Morgan also expand outside NYC, raising concerns about the city's business environment and tax policies.