Meet the billionaires spending over six figures to stop Zohran Mamdani from becoming New York’s next mayor, from Michael Bloomberg to Bill Ackman
By Jessica CoacciSuccess Fellow
October 28, 2025 at 2:40 PM EDT
Part of Zohran Mamdani’s campaign centers around the belief that billionaires shouldn’t exist. Now, those ultra-wealthy earners are aiming to stop the mayoral candidate, in part, by boosting the profile of former New York Governor Andrew Cuomo, Mamdani’s opponent for this cycle.
Part of Mamdani’s bid has been to tax the ultra-rich and wealthy corporations, which include an additional 2% tax on New Yorkers earning more than $1 million a year. Despite these multi-million dollar oppositions, Mamdani is maintaining a lead in the mayoral race.
Some of the groups opposing Mamdani include “Fix the City” (pro-Cuomo committee) and “Defend NYC” (a group made to oppose Mamdani). Fix the City has raised $7.3 million since the primary, Defend NYC has raised almost $2.5 million, according to Business Insider.
Now, roughly 26 billionaires and rich families from around the U.S. have spent at least six figures to support Cuomo, according to an analysis from Forbes. They estimate the total amount equates to over $22 million to back opposition campaigns, including from billionaires Bill Ackman and former New York City Mayor Michael Bloomberg.
Below are the billionaires who have donated over $100,000 with their net worths, per Forbes.
Fortune has reached out to Mamdani’s team for comment.
Donors opposing Mamdani
Name Amount Donated Group(s) Supported Net Worth
Michael Bloomberg $8.3 million Fix the City $110 billion
Joseph Gebbia $3 million Fix the City · Defend NYC · Put NYC First $7.9 billion
Lauder family $2.6 million Fix the City · Sensible City $25.9 billion
Bill Ackman $1.75 million Fix the City · Defend NYC $9.2 billion
Tisch family $1.2 million Fix the City $10.1 billion
John Hess & family $1 million Fix the City $2.4 billion
Daniel Loeb $775,000 Fix the City · Defend NYC · NYers for a Better Future $3.8 billion
Barry Diller $500,000 Fix the City $5.1 billion
Steve Wynn $500,000 Fix the City $3.9 billion
Marcella Guarino Hymowitz $400,000 Fix the City · Put NYC First $2 billion
David Walentas $350,000 Fix the City · Empower NYC $2.3 billion
Reed Hastings $250,000 Fix the City $6.5 billion
John Fish $250,000 Fix the City $2.3 billion
David Lichtenstein $250,000 Fix the City · NYers for a Better Future $2 billion
Alice Walton $200,000 Fix the City $115 billion
Deborah Simon $200,000 Fix the City $11.6 billion
Jerry Speyer $150,000 Fix the City $2.2 billion
Stephanie Coleman $150,000 Fix the City $7.1 billion (family)
Durst family $110,000 Fix the City $8.1 billion
Fisher family $110,000 Fix the City $1.6 billion
Daniel Och $100,000 Fix the City · Sensible City $4.2 billion
Ken Langone $100,000 Fix the City $9.4 billion
James & Kathryn Murdoch $100,000 Fix the City $23.4 billion (family)
Bruce & Suzie Kovner $100,000 Fix the City $9 billion
Richard Kurtz $100,000 Anyone But Mamdani $1 billion
Elghanayan family $100,000 Fix the City $2.2 billion
https://fortune.com/2025/10/28/billionaires-against-zohran-mamdani-cuomo-donors-bill-ackman-michael-bloomberg-defend-nyc-fix-the-city/
