Business
Meet the billionaires spending over six figures to stop Zohran Mamdani from becoming New York’s next mayor, from Michael Bloomberg to Bill Ackman
Part of Zohran Mamdani’s campaign centers around the belief that billionaires shouldn’t exist. Now, those ultra-wealthy earners are aiming to stop the mayoral candidate, in part, by boosting the profile of former New York Governor Andrew Cuomo, Mamdani’s opponent for this cycle.
Part of Mamdani’s bid has been to tax the ultra-rich and wealthy corporations, which include an additional 2% tax on New Yorkers earning more than $1 million a year. Despite these multi-million dollar oppositions, Mamdani is maintaining 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.
Now, roughly 26 billionaires and rich families from around the U.S. have spent at least six figures to support Cuomo, according to an analysis from Forbes. They estimate the total amount equates to over $22 million to back opposition campaigns, including from billionaires Bill Ackman and former New York City Mayor Michael Bloomberg.
Below are the billionaires who have donated over $100,000 with their net worths, per Forbes.
Fortune 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 |
