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6d ago

Four-Way New York City Mayoral Race Draws Billionaire Cash for and Against Mamdani

Split donor coalitions have unleashed massive spending to block Mamdani in an election Republicans are using to pressure Democrats nationwide.

New York City mayoral candidate Zohran Mamdani campaigns on July 10, 2025.
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NEW YORK, NEW YORK - JUNE 24: New York mayoral candidate, State Rep. Zohran Mamdani (D-NY) speaks to supporters during an election night gathering at The Greats of Craft LIC on June 24, 2025 in the Long Island City neighborhood of the Queens borough in New York City. Mamdani was announced as the winner of the Democratic nomination for mayor in a crowded field in the City’s mayoral primary to choose a successor to Mayor Eric Adams, who is running for re-election on an independent ticket. (Photo by Michael M. Santiago/Getty Images)

Overview

  • The November general election will pit democratic socialist Zohran Mamdani against independent bids from Mayor Eric Adams and former Governor Andrew Cuomo and Republican nominee Curtis Sliwa.
  • Business powerbrokers have launched rival super PACs—led by Bill Ackman’s New Yorkers for a Better Future Mayor 25 with over $20 million and the Fix the City committee—to thwart Mamdani’s candidacy.
  • Progressive groups funded by George Soros’s Open Society network have received about $37 million to boost Mamdani through endorsements and door-to-door mobilization.
  • Republicans have rolled out national ad campaigns to tie House and Senate Democrats to Mamdani’s socialist proposals and sharpen attacks ahead of 2026 races.
  • The fractured opposition raises the risk of splitting anti-socialist votes in a city where Democrats outnumber Republicans six-to-one.