Steve Roth, CEO of Vornado Realty Trust, compared the phrase "tax the rich" to racial slurs while defending billionaires against calls for higher taxation.
Speaking on his company's quarterly earnings call Tuesday, Roth said the top 1% should be "praised and thanked" rather than targeted for increased taxes.
Roth was responding to New York State's announcement of a tax on second homes worth more than $5 million, a policy unveiled by state officials on April 15. The announcement specifically highlighted a $238 million penthouse owned by Ken Griffin, CEO of hedge fund Citadel.
Roth expressed support for Griffin, who was featured in a video announcement of the new "pied-à-terre" tax made in front of his Manhattan penthouse.
