On the evening of October 29, 2025, amid the bustle of political speculation and high-stakes economic dialogue, billionaire businessman and philanthropist Ken Langone delivered remarks that quickly reverberated beyond the walls of a high-profile event in Washington, D.C. Speaking at Goldman Sachs’ 10,000 Small Businesses Conference—a gathering dedicated to supporting entrepreneurship and innovation—Langone, best known as the cofounder of Home Depot, offered a pointed critique directed at New York City’s current mayoral frontrunner, Zohran Mamdani. His comments, at once cautionary and confrontational, underscored a deepening divide between the American business elite and an emerging wave of progressive leadership reshaping urban political landscapes.
Langone, a native of Long Island and a self-described “unabashed, devout lover of capitalism,” did not conceal his unease about the direction in which the city might soon be heading. When asked about the state of capitalism during the conference, he warned that “New York is on the verge of making a monumental mistake.” His choice of words suggested not merely political disagreement but a profound concern that the city’s next electoral decisions could have far-reaching implications for its economic future. To Langone, the possibility of electing a candidate openly aligned with democratic socialism—an ideology that questions the very legitimacy of extreme wealth—represented an existential threat to the financial vitality and entrepreneurial spirit that have long characterized New York.
The context of these remarks extends beyond personal ideology. Many of the city’s business figures and billionaire investors share Langone’s apprehension about Mamdani’s ascent. They fear that his policy proposals, framed around redistributive economics and social equity, could unsettle a fragile business environment already contending with post-pandemic challenges. In response, some members of the financial community have reportedly injected hundreds of thousands of dollars into efforts to prevent his move into Gracie Mansion, the symbolic seat of New York’s mayoral power. Yet, notably, the city’s financial ecosystem remains far from unified. Certain Wall Street employees, reflecting the growing diversity of political opinion within the sector, have chosen instead to back Mamdani’s campaign, viewing his platform as a necessary corrective to socioeconomic imbalance and corporate dominance.
Langone’s personal stance derives from a lifetime of advocacy for free markets and a deep faith in the virtues of private enterprise. With an estimated net worth of $9.3 billion, as reported by *Forbes*, his career stands as a testament to the economic system he fervently defends. In contrast, Mamdani, who identifies himself as a Democratic Socialist, has been forthright in his declaration that “billionaires shouldn’t exist”—a statement encapsulating the sharp ideological gulf between the two men. Attempts by journalists to solicit a response from Mamdani’s campaign regarding Langone’s critique were met with silence, leaving the billionaire’s pointed remarks to circulate untouched within media and business circles.
However, Langone’s commentary on Wednesday extended beyond municipal politics to a broader defense of national values. His rhetoric turned especially strident when addressing those he perceives as ungrateful or overly critical of the United States itself. “I have a simple recommendation for anyone who has problems with America,” he declared in frustration. “Why don’t you leave?” The exasperation in his tone was unmistakable. He elaborated further, expressing that he was “sick and tired of people bitching and complaining,” a blunt admonition that encapsulated his patriotic impatience with those he believes fail to recognize the country’s opportunities and freedoms.
This attitude aligns with Langone’s broader political identity. Over the summer, he confirmed in an interview that he remains firmly “sold on Trump,” reflecting his ongoing support for the former president’s economic vision, despite previous moments of ambivalence. After the events of January 6, 2021, when the U.S. Capitol was attacked, Langone had briefly distanced himself from Trump, criticizing both the violence and the rhetoric that had stoked it. Yet in the years since, he has reassessed his position, continuing to contribute as a major conservative donor while maintaining occasional skepticism regarding certain policies—most notably, the imposition of tariffs that he views as economically counterproductive.
Taken together, Langone’s remarks encapsulate the tension between two competing visions of America’s future: one anchored in unfettered capitalism and individual enterprise, and another seeking to temper those forces through heightened social accountability. As New York approaches a pivotal election on November 4, his intervention serves both as a warning and a reflection of the anxiety felt by many within the business community. Whether the city will heed Langone’s caution or embrace a more radical departure from its capitalist traditions remains to be seen, but his commentary ensures that the debate over New York’s identity—economic, political, and moral—will be anything but quiet in the days ahead.
Sourse: https://www.businessinsider.com/home-depot-founder-ken-langone-zohran-mamdani-nyc-mistake-2025-10
