Billionaires Spent $22 Million to Stop Zohran Mamdani from Becoming New York Mayor Report Reveals
New York | November 7, 2025 | DeccanLive.com
A recent report by a leading American newspaper has revealed that 26 billionaires and their families collectively spent more than $22 million in an attempt to prevent Zohran Mamdani, the Muslim Democratic Socialist candidate, from winning the New York City mayoral election.
According to the report, these billionaires came from different political and business circles, and their main goal was to curb Mamdani’s growing popularity. All major pre-election surveys had shown Mamdani as the frontrunner in the race.
Former New York Mayor Michael Bloomberg reportedly donated $1.5 million to Mamdani’s rival, Andrew Cuomo, to support his campaign. Several other wealthy investors also contributed large sums to the anti-Mamdani effort.
However, the report noted that only two billionaires supported Zohran Mamdani’s campaign — Elizabeth Simons, who donated $250,000, and Tom Preston-Werner, the co-founder of GitHub, who contributed $20,000.
After Mamdani’s victory, several prominent business figures in New York expressed cautious support for the new mayor. Billionaire Bill Ackman, once a strong critic of Mamdani, has now offered to work with him.
Similarly, well-known Wall Street investor Ralph Schlosstein said that after a tough election, “it’s time for New York to unite and move forward.”
