Washington, DC: With just five days left before Election Day, Democratic nominee Zohran Mamdani maintains a strong lead over Independent candidate Andrew Cuomo and Republican nominee Curtis Sliwa in the New York City mayoral race.
Billionaires Mount Last-Minute Push Against Mamdani
As Mamdani leads in polls, 62 billionaires and wealthy families have launched a major effort to block his path to victory. New York City is home to 111 billionaires, whose combined wealth exceeds $717 billion, more than six times the city’s annual budget.
At least 26 billionaires and affluent families have each donated $100,000 or more to pro-Cuomo and anti-Mamdani super PACs, including Fix the City and Defend NYC. Total contributions have now surpassed $28 million, according to the Americans for Tax Fairness Action Fund (ATFAF).
Cuomo Draws Bulk of Wealthy Donor Support
ATFAF reported that billionaire-backed super PACs have raised more money than 60,000 small-dollar donors combined. Most billionaire funds support Cuomo, opposing Mamdani’s plan to increase taxes by 2% on residents earning over $1 million annually.
Major Donors and Their Contributions
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Michael Bloomberg has donated $9.5 million, including an additional $1.5 million this week, to back Cuomo.
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Joseph Gebbia, Airbnb co-founder and Trump’s design officer, contributed $3 million to anti-Mamdani PACs.
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The Lauder family of Estée Lauder fame provided $2.6 million, with Ronald Lauder giving $750,000 in September.
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Hedge fund manager Bill Ackman invested $1.75 million and urged Sliwa to exit the race.
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The Tisch family of Loews Corp donated $1.2 million, while oil magnate John Hess and family added $1 million.
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Hedge fund billionaire Daniel Loeb contributed $775,000, and Barry Diller and Steve Wynn each gave $500,000.
