ByKyle Khan-Mullins,
Forbes Staff.
Z
ohran Mamdani is riding high. The 34-year-old democratic socialist New York state assemblyman remains well ahead of former governor Andrew Cuomo and talk show host Curtis Sliwa in the race for New York City mayor—despite making more than a few enemies in high places. “Billionaires like Bill Ackman and Ronald Lauder have poured millions of dollars into this race because they say that we pose an existential threat,” Mamdani declared at an Oct. 13 rally. “I am here to admit something: They are right.”
Hedge funder Ackman did indeed put $1.75 million into political groups spending against Mamdani, the official Democratic nominee, as of October 22, and cosmetics heir Lauder has contributed another $750,000. But while these two billionaires were name-checked by the mayoral frontrunner, they aren’t the only billionaires breaking open their considerable piggy banks to oppose Mamdani. In fact, 26 billionaires and members of billion-dollar families from around the country have sunk at least $100,000 each into supporting Cuomo (now running as an independent) or one of the other candidates running against Mamdani, according to a Forbes analysis. In all, these billionaires have donated over $22 million to back opposition campaigns, flooding the airwaves and mailboxes of Big Apple residents with anti-Mamdani messages.
