Billionaires spend big to oppose Zohran Mamdani in closing days of NYC mayor's race
NEW YORK − Billionaires are donating heavily in the waning days of the New York City mayor’s race to stop Democratic frontrunner Zohran Mamdani.
Bill Ackman, a billionaire hedge fund manager and prolific social media poster, donated $1 million on Oct. 14 to Defend NYC, a super PAC opposed to Mamdani’s candidacy, according to state Board of Elections filings. Mamdani, a democratic socialist state lawmaker and the Democratic nominee for mayor, is ahead in polls with less than three weeks before the Nov. 4 general election.
Ackman, a supporter of President Donald Trump, previously donated large sums to Fix the City, another super PAC that supported former Gov. Andrew Cuomo in the June Democratic primary. Despite receiving support from the city’s wealthiest residents, Cuomo lost handily before running as an independent in the general election.
A spokesperson for Ackman, who is founder and CEO of Pershing Square Capital Management, declined to comment. Ackman has previously criticized Mamdani for his advocacy for Palestinian rights and his condemnation of Israel's siege in Gaza, as well as Mamdani's socialist politics. Mamdani has said billionaires shouldn't exist amid extreme income inequality.
https://www.usatoday.com/story/news/politics/2025/10/16/billionaires-oppose-zohran-mamdani-nyc-mayor/86719117007/