Billionaire Barry Sternlicht is contemplating relocating his firm due to Mayor Zohran Mamdani's election, fearing his policies may turn NYC into Mumbai.

Billionaire property magnate Barry Sternlicht has said his firm is considering moving out of New York following Zohran Mamdani’s election as mayor, claiming other companies are likely to do the same.

Sternlicht, who chairs the global investment firm Starwood Capital Group, suggested that Mamdani’s policies would embolden tenants to stop paying rent and lead to a decline in the city’s economy.

In a conversation with CNBC, the billionaire drew a controversial comparison between New York and Mumbai, saying, “The far-left gets really nuts and says the tenants don’t have to pay. Well, you can’t kick them out if they don’t pay.

“So, the ne

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