Bill Ackman Offers Financial Support for NYC Mayoral Candidate to Challenge Mamdani
Hedge-fund billionaire Bill Ackman plans to fund a candidate to challenge Democratic Socialist Zohran Mamdani in the NYC mayoral race. Ackman warns of potential negative impacts on NYC if Mamdani's policies are implemented. He urges a strong competitor to step forward, promising significant financial backing.
Hedge-fund billionaire Bill Ackman plans to bankroll a New York City mayoral campaign to defeat Democratic Socialist frontrunner Zohran Mamdani. Ackman believes Mamdani's policies would be disastrous for the city, leading to an exodus of the wealthy and endangering public services.
Ackman called for a competitor to step forward, stating that there are hundreds of millions of dollars available to support an alternative candidate. He also alleged that Michael Bloomberg would support a candidate to challenge Mamdani.
Mamdani, a 33-year-old outsider, defeated former governor Andrew Cuomo in the Democratic Party primary by focusing on the cost-of-living crisis. He advocates for rent freezes, subsidized city-owned supermarkets, and free public transit funded by taxes on corporations and the wealthy.
New York mayoral races have low voter turnout, making them unpredictable. Ackman believes this could benefit a centrist candidate emerging in the race.
According to the source: Fortune.
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