The Zohran Mamdani’s campaign is partly based on the idea that billionaires shouldn't be a thing. Currently, those extremely rich individuals are trying to thwart the mayoral candidate, partly by increasing the visibility of ex-New York Governor Andrew Cuomo, who is Mamdani's rival this election.
TL;DR
- Billionaires like Michael Bloomberg and Bill Ackman are funding opposition to Zohran Mamdani's mayoral campaign.
- These wealthy donors are supporting rival Andrew Cuomo through committees like "Fix the City" and "Defend NYC."
- Mamdani's platform includes taxing high earners, which has drawn significant financial opposition.
- Over $22 million has been raised by opposition campaigns, with many billionaires contributing six figures.
Mamdani's proposal includes taxing the wealthiest individuals and large companies, such as a 2% surtax on New Yorkers with incomes exceeding $1 million annually. Even with significant opposition from these high-earning entities, Mamdani continues to hold a lead in the mayoral race.
Some of the groups opposing Mamdani include “Fix the City” (pro-Cuomo committee) and “Defend NYC” (a group made to oppose Mamdani). Fix the City has raised $7.3 million since the primary, Defend NYC has raised almost $2.5 million, according to Business Insider.
Around 26 wealthy individuals and families across the U.S. Have contributed at least six figures to back Cuomo, based on an analysis from Forbes. Their estimates suggest this support totals more than $22 million for opposition campaigns, with contributions from billionaires like Bill Ackman and former NYC Mayor Michael Bloomberg.
Below are the billionaires who have donated over $100,000 with their net worths, per Forbes.
Coins2Day has reached out to Mamdani’s team for comment.
Donors opposing Mamdani
| Name | Amount Donated | Group(s) Supported | Net Worth |
| Michael Bloomberg | $8.3 million | Fix the City | $110 billion |
| Joseph Gebbia | $3 million | Fix the City · Defend NYC · Put NYC First | $7.9 billion |
| Lauder family | $2.6 million | Fix the City · Sensible City | $25.9 billion |
| Bill Ackman | $1.75 million | Fix the City · Defend NYC | $9.2 billion |
| Tisch family | $1.2 million | Fix the City | $10.1 billion |
| John Hess & family | $1 million | Fix the City | $2.4 billion |
| Daniel Loeb | $775,000 | Fix the City · Defend NYC · NYers for a Better Future | $3.8 billion |
| Barry Diller | $500,000 | Fix the City | $5.1 billion |
| Steve Wynn | $500,000 | Fix the City | $3.9 billion |
| Marcella Guarino Hymowitz | $400,000 | Fix the City · Put NYC First | $2 billion |
| David Walentas | $350,000 | Fix the City · Empower NYC | $2.3 billion |
| Reed Hastings | $250,000 | Fix the City | $6.5 billion |
| John Fish | $250,000 | Fix the City | $2.3 billion |
| David Lichtenstein | $250,000 | Fix the City · NYers for a Better Future | $2 billion |
| Alice Walton | $200,000 | Fix the City | $115 billion |
| Deborah Simon | $200,000 | Fix the City | $11.6 billion |
| Jerry Speyer | $150,000 | Fix the City | $2.2 billion |
| Stephanie Coleman | $150,000 | Fix the City | $7.1 billion (family) |
| Durst family | $110,000 | Fix the City | $8.1 billion |
| Fisher family | $110,000 | Fix the City | $1.6 billion |
| Daniel Och | $100,000 | Fix the City · Sensible City | $4.2 billion |
| Ken Langone | $100,000 | Fix the City | $9.4 billion |
| James & Kathryn Murdoch | $100,000 | Fix the City | $23.4 billion (family) |
| Bruce & Suzie Kovner | $100,000 | Fix the City | $9 billion |
| Richard Kurtz | $100,000 | Anyone But Mamdani | $1 billion |
| Elghanayan family | $100,000 | Fix the City | $2.2 billion |