Billionaire Pledges To Bankroll Any NYC Mayoral Candidate Who Can Beat Zohran Mamdani
Wall Street has rallied against Mamdani following his shock victory against ex-governor Andrew Cuomo in Tuesday’s Democratic primary.
By Nathan Gay
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Jun 26, 2025 DailyWire.com
Billionaire investor Bill Ackman vowed on Wednesday to provide “hundreds of millions of dollars” to back any viable challenger against Democratic socialist Zohran Mamdani in New York City’s mayoral race.
Mamdani defeated former Governor Andrew Cuomo in New York City’s Democratic primary on Tuesday and will compete against incumbent Mayor Eric Adams (running as an independent this cycle) and Republican nominee Curtis Sliwa in the November general election.
Ackman, founder and chief executive of hedge fund manager Pershing Square Capital, wrote a lengthy post on X to express his alarm at Mamdani’s victory.
“I awoke this morning gravely concerned about New York City,” Ackman wrote. “I thought ‘What has NYC become that an avowed socialist who has supported defunding the police, whose solution to lowering food prices is city-owned supermarkets, who doesn’t understand that freezing rents will only make apartments scarcer and more expensive in the long run.'”
The billionaire investor compared a potential Mamdani-led New York to “another failed major city run by Democrats alongside Seattle, Chicago, LA, and SF,” quoting Senator John Fetterman’s (D-PA) assessment that Mamdani’s victory represented “Christmas in July for the GOP.”
“A mayor who disrespects the NYPD and has called for their defunding will get less effective policing, and Bratton’s ‘broken window theory’ will operate in reverse,” Ackman wrote, warning that New York City would become “much more dangerous and economically unviable” under Mamdani’s administration.
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