New York City’s wealthy elite have tried everything to stop democratic socialist candidate Zohran Mamdani from becoming mayor, including using insults and scare tactics. They had labeled his rise as the start of “hot commie summer.” However, despite their efforts, Mamdani remains a strong contender, with Bill Ackman’s attacks only fueling his popularity. The billionaire investor’s relentless criticism was even mocked by Mamdani on a popular podcast, where he joked that Ackman would spend more money opposing him than actually taxing him.
Source: https://www.bloomberg.com/news/articles/2025-11-05/mamdani-gets-wary-wall-street-s-support-after-nyc-mayoral-election-win