{"id":16191,"date":"2025-06-26T11:48:18","date_gmt":"2025-06-26T11:48:18","guid":{"rendered":"https:\/\/www.europesays.com\/us\/16191\/"},"modified":"2025-06-26T11:48:18","modified_gmt":"2025-06-26T11:48:18","slug":"bill-ackman-to-back-nyc-mayor-eric-adams-reelection-bid-source","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/16191\/","title":{"rendered":"Bill Ackman to back NYC Mayor Eric Adams’ reelection bid: source"},"content":{"rendered":"

Bill Ackman is preparing to back Eric Adams\u2019 bid<\/a> for reelection as New York City mayor \u2014 and is hoping that rival candidates will drop out to bolster the current mayor\u2019s chances against Democratic nominee Zohran Mamdani, The Post has learned.<\/p>\n

The billionaire hedge fund titan \u2014 who had given $500,000 to Andrew Cuomo\u2019s fizzled run<\/a> against Mamdani in the Democratic primary \u2014 is now gearing up to throw his weight behind Adams, according to a source close to the billionaire investor.<\/p>\n

Ackman, who is reported to be worth a cool $9 billion according to Forbes, is set to throw his weight behind incumbent Eric Adams, who is running as an independent. AFP via Getty Images<\/p>\n

Likewise, Ackman is hoping that Cuomo and Republican mayoral candidate Curtis Sliwa will bow out of the November election to allow Adams a clearer run against the 33-year-old hard-left firebrand Mamdani, who is backed by AOC and Sen. Bernie Sanders.<\/p>\n

\u201cBill thinks the only thing that works is for Adams to run and everyone else to drop out,\u201d the source said.<\/p>\n

The insider, speaking to The Post on condition of anonymity, added that if Cuomo and Sliwa fail to end their campaigns it could create a \u201cdifficult\u201d path for Adams \u2014 potentially splitting moderate voters and handing victory to the Israel-bashing, Uganda-born Mamdani, who only became a US citizen in 2018.<\/p>\n

A spokesperson for Ackman declined to comment when contacted by The Post.<\/p>\n

After the story was published, Ackman, a prolific social media user, posted on X: \u201cI like (Eric Adams) and may ultimately support and endorse him, but I have not yet made any decision about whom to support for mayor of NYC.\u201d<\/p>\n

Other New York City business magnates who had backed Cuomo\u2019s failed primary run include former Mayor Michael Bloomberg, media mogul Barry Diller, hedge fund tycoon Daniel Loeb, cosmetics magnate William Lauder and Netflix founder Reed Hastings.<\/p>\n

Fellow hedge fund titan Boaz Weinstein told The Post that he expected voters to flock to the polls in droves in a bid to block the hard-left Democratic nominee. REUTERS<\/p>\n

Boaz Weinstein, the billionaire boss of New York hedge fund Saba Capital, voiced optimism that Mamdani\u2019s \u201cshock\u201d victory<\/a> could lead to voters turning up in droves this November to ensure he is roundly defeated.<\/p>\n

\u201cI bet you that we get a record turnout,\u201d said Weinstein, who made a fortune betting on JPMorgan trading losses in 2012. He pointed to the fact that Mamdani only secured 430,000 votes in a city where there are 4.7 million people who are eligible to cast ballots.<\/p>\n

Wall Street investor Whitney Tilson, who ran against Mamdani and Cuomo in the primary and picked up just under 1% of the vote, warned that New York\u2019s uber-rich could flee for tax-friendlier climes such as Florida if the self-styled Democratic Socialist wins in November, leading to a drop in investment. <\/p>\n

\u201cIt would poison the business environment,\u201d said the former Kase Capital supremo and longtime Dem donor. \u201cThere are a lot of people on the edge right now. This would push them over.\u201d<\/p>\n

Whitney Tilson, the former candidate for the Democrat nomination, warned Mamdani would \u201cpoison the business environment\u201d in the Big Apple. AP<\/p>\n

Dan Loeb, the 63-year-old CEO of the Third Point hedge fund, wrote on X as New York sweltered amid record temperatures: \u201cIt\u2019s officially hot commie summer.\u201d <\/p>\n

Adams, elected as a Democrat in 2021, is now running as an independent bid after federal corruption charges were dropped by the DOJ in April 2025.<\/p>\n

Cuomo\u2019s plans on whether he might re-enter the race as an independent remain unclear, although The Post\u2019s Charlie Gasparino reported business leaders are hoping he will drop out. Guardian Angels founder Sliwa, meanwhile, told Gasparino he will not leave the Republican ticket.<\/p>\n

\u201cThe only way I drop out is if I\u2019m in a pine casket six feet under,\u201d Sliwa said.<\/p>\n

GOP candidate Curtis Sliwa, the founder of the Guardian Angels, said he would only stand down \u201cif he was six feet under.\u201d Michael McWeeney<\/p>\n

Shares of New York regional bank Flagstar, which is heavily exposed to the city\u2019s real estate industry,. dropped by 6% in Wednesday trading on fears about Mamdani\u2019s vow to freeze rent increases in stabilized units during his campaign.<\/p>\n

Flagstar was formerly known as New York Community Bancorp and came under pressure in 2024 in part due to its real estate exposure. <\/p>\n

Deutsche Bank analyst Bernard von-Gizycki wrote in a note to clients that between $16 billion and $18 billion of the bank\u2019s multi-family loan portfolio would be exposed to New York rent regulations.<\/p>\n

He added that the figure represents roughly a quarter of the bank\u2019s total loan book.<\/p>\n

Mamdani, a state assemblyman from Queens, galvanized young, white, Asian, and Latino voters with a platform focused on affordability.<\/p>\n

Former Governor Andrew Cuomo could still re-enter the race as an independent, further splitting the Democratic vote in the election. Luiz C. Ribeiro for New York Post<\/p>\n

His signature pledges also include free city buses, universal child care, and city-owned grocery stores, funded by taxing the wealthy that will prompt fears of capital flight from the Big Apple to tax-friendly states such as Florida.<\/p>\n

Mamdani\u2019s campaign amassed over 50,000 volunteers and leveraged ranked-choice voting to secure 43.5% of first-round primary votes. If elected, he would be the city\u2019s first Muslim and South Asian mayor.<\/p>\n","protected":false},"excerpt":{"rendered":"Bill Ackman is preparing to back Eric Adams\u2019 bid for reelection as New York City mayor \u2014 and…\n","protected":false},"author":3,"featured_media":16192,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,16088,64,5289,405,403,5226,5225,5228,5227,67,586,132,5230,68,2969,5301],"class_list":{"0":"post-16191","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-bill-ackman","10":"tag-business","11":"tag-eric-adams","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-united-states","19":"tag-united-states-of-america","20":"tag-unitedstates","21":"tag-unitedstatesofamerica","22":"tag-us","23":"tag-usa","24":"tag-zohran-mamdani"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114749512327771670","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/16191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=16191"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/16191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/16192"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=16191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=16191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=16191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}