- After Zohran Mamdani likely secured the democratic nomination in New York City’s mayoral race, billionaires like Elon Musk and Bill Ackman rushed to criticize the young politician and issue warnings of businesses likely to leave the city.
Billionaires are outraged after self-described Democratic Socialist Zohran Mamdani defeated establishment candidate Andrew Cuomo to become the Democratic nominee in New York City’s mayoral race.
The 33-year-old Mamdani was, until recently, a little-known state assembly member and came into the Democratic primary as an underdog, unlikely to surmount former Gov. Cuomo’s brand recognition and billionaire backers. But his proposals—which included rent freezes, free bus fare, and city-owned grocery stores—ultimately resonated with New Yorkers who have faced rising rents and heaps of economic pain in one of the most expensive cities in the world.
Mamdani has all but clinched the nomination after Cuomo conceded the race this week, and because of his Democratic Socialist label and controversial proposals, billionaires have rushed to paint the young politician as a threat to business, democracy, and the Democratic Party. Many of the billionaires protesting also lost financially, donating to “Fix the City,” a nonprofit group that received about $25 million in donations and spent loads on pro-Cuomo ads and anti-Mamdani ads, per Business Insider.…