Politics | Zohran Mamdani NYC's Wealthiest Revolt Against Mamdani Candidacy Billionaire Bill Ackman pleads for a rival to come forward for mayor, offers a bankroll By John Johnson Posted Jun 26, 2025 12:55 PM CDT Copied Democrat Zohran Mamdani speaks at his primary election party, Wednesday, June 25, 2025, in New York. (AP Photo/Heather Khalifa) It's safe to say that Wall Street is not thrilled that a democratic socialist has won the Democratic primary to be the next mayor. In the wake of Zohran Mamdani's upset victory over Andrew Cuomo, hedge fund billionaire Bill Ackman tweeted a lengthy plea for a viable independent candidate to emerge ASAP, reports Fortune. Any such candidate's campaign would get an immediate cash infusion, he writes. "Importantly, there are hundreds of millions of dollars of capital available to back a competitor to Mamdani that can be put together overnight (believe me, I am in the text strings and the WhatsApp groups) so that a great alternative candidate won't spend any time raising funds." Ackman asserted that "New York City under Mamdani is about to become much more dangerous and economically unviable," and the gloomy sentiment was common among the uber rich. Billionaire Dan Loeb of Third Point hedge fund tweeted that "it's officially hot commie summer" after Mamdani's win, notes Forbes. A story at Axios takes a broader look at the issue, and why the city's business community is "terrified" at the prospect of Mamdani as mayor. Read These Next Her blood isn't compatible with anyone else's. Iran's supreme leader makes first public comments since ceasefire. New Fox star, 23, misses first day after car troubles. Rubio says the fate of Iran's conversion facility is what matters. Report an error