Billionaire investor Bill Ackman questioned New York City Mayor Zohran Mamdani (D) on Tuesday after a mayor-appointed commission recommended an 18.2% salary increase for the mayor and other elected officials, arguing the proposal contradicts the city’s recent rent freeze policy.
“Mamdani’s appointed advisory commission is recommending an 18.2% raise for himself and other elected officials purportedly because of inflation, yet his self-appointed Rent Guidelines Board, which is supposed to consider inflation in setting rents, froze rents for two years,” Ackman wrote on X. “A question for the mayor: How is this fair or appropriate?”
Inflation Debate Takes Center Stage
The commission recommended raising the mayor’s salary from $258,750 to $305,800, while City Council members would see their pay increase from $148,500 to $175,500. It also proposed an annual inflation-adjusted mechanism if future pay commissions are not convened, although some government watchdog groups have expressed concerns about automatic increases.
Ackman’s criticism focused on the commission’s reliance on inflation while New York City recently froze rents for many tenants.
