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Bill Ackman, a billionaire hedge fund investor and an ally of President Donald Trump, has reportedly made a significant donation to a super PAC opposing the mayoral campaign of Zohran Mamdani, a Democratic socialist.
Ackman has contributed $1 million to Defend NYC, a super PAC that is actively working against Mamdani’s mayoral campaign, reported Politico on Wednesday.
The super PAC Defend NYC, founded by former Trump adviser Jason Meister, has raised $1.32 million from nine donors, with Bill Ackman as the largest contributor and Daniel Loeb giving $100,000, according to the report.
The PAC runs MeetZohran.com, criticizing Mamdani as a “radical socialist” and inexperienced, but has reported few expenditures beyond consulting and polling.
Before the June primary elections, Ackman had contributed $500,000 to Fix the City, a super PAC backing Andrew Cuomo's mayoral campaign. His latest donation, disclosed to the state Board of Elections on Wednesday, positions him as one of the leading donors in the race—second only to former Mayor Michael Bloomberg, who donated $8.3 million to the same PAC before the primary.
Ackman’s donation comes in the wake of a warning he issued about out-of-state money influencing the NYC mayoral race. He had questioned why wealthy Californians were funding a New York City mayoral candidate, suggesting that this out-of-state influence was reshaping local politics.
His latest move also follows his public sharing of former Governor Andrew Cuomo’s criticism of Mamdani, where Cuomo labeled Mamdani as opportunistic and inconsistent.
JPMorganChase (NYSE:JPM) CEO Jamie Dimon has also been vocal in expressing his skepticism of Mamdani’s candidature.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: JPM
