New York City’s business leaders are sounding the alarm about a potential socialist mayor in Zohran Mamdani, warning that his win could be the “death knell” for the city’s economy. The CEOs, including JPMorgan and Pfizer executives, gathered at an informal meeting to express their concerns about Mamdani’s policies and personal views.
Mamdani, who is 33 years old, has been criticized by business leaders for his lack of experience and his pro-socialist stance on issues like affordable housing and gun control. His position on Israel is also a major concern, with some business leaders worried that he may not be able to bridge the gap between the Jewish community and city officials.
Billionaire hedge fund manager Bill Ackman has gone as far as to say that Mamdani’s winning office will lead to the “death knell” of NYC’s economy. He warned that construction would come to a halt, businesses would relocate, and wealthy residents would leave, decimating the tax base.
The opposition is also targeting Mamdani through anti-campaign efforts, with one group aiming to raise $20 million to fund an anti-Mamdani campaign. Meanwhile, billionaire John Catsimatidis has threatened to close his NYC supermarkets if Mamdani wins.
Despite these concerns, business leaders are cautiously optimistic about the current mayoral candidate, Eric Adams, who is expected to face off against Mamdani in the general election.
Source: https://www.foxbusiness.com/politics/nyc-ceos-grill-mamdani-socialist-mayoral-candidate