The mayoral race in New York City has become highly competitive, with significant financial backing influencing the outcome. Analysis of campaign finance filings reveals that numerous billionaires, including Michael Bloomberg and Bill Ackman, are pouring money into PACs supporting Andrew Cuomo and opposing Zohran Mamdani. These super PACs are attempting to sway public opinion, with major contributions coming from industries such as Airbnb and DoorDash, which face scrutiny due to the current housing crisis. Conversely, Mamdani has received significantly less financial support, though he continues to lead in polls.
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Elizabeth Simons, daughter of the late billionaire hedge fund investor Jamie Simons, has donated $250,000 to the pro-Zohran Mamdani super PAC, New Yorkers for Lower Costs, making it the largest contribution to the group. The super PAC has already raised nearly $2 million from almost 300 donations. Simons, who is chairwoman of the Heising-Simons Foundation, is contributing to a campaign of a Democratic socialist, Mamdani, who has expressed that he does not believe billionaires should exist. Other super PACs have also been supporting campaigns of mayoral candidates, including Andrew Cuomo and Eric Adams.
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Senator Bernie Sanders offered a candid assessment of Kamala Harris’s loss in the 2024 election, suggesting that she failed to connect with working-class voters. He attributed this failure to the influence of wealthy consultants who steered her campaign away from addressing critical economic issues. Sanders emphasized the importance of a strong agenda focused on the economic struggles of working families, particularly in a climate of widening income inequality and a broken healthcare system. He believes that Democrats must unequivocally support the working class to achieve electoral success.
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Karoline Leavitt’s 2022 congressional campaign is currently burdened with a debt exceeding $300,000, owed to over 100 creditors. The campaign, which accepted over $300,000 in illegal contributions, failed to repay any of it in the latest reporting period ending June 2025. While the funds were to be returned, the campaign had already spent the money. Notably, Leavitt’s campaign has only refunded five donors this year, including her parents.
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A recent financial disclosure from the MAGA Inc. super PAC, supporting Donald Trump, unveiled a list of significant donors and their subsequent access to the former president. The disclosure revealed that the PAC raised over $177 million since January, with some donors later securing positions in Trump’s administration or gaining direct access to him. Notable contributors included cryptocurrency entrepreneurs, some of whom pitched business ideas to Trump during private meetings, and individuals like Elizabeth Fago, who received a pardon for her son shortly after donating a substantial sum. MAGA Inc. maintains that any perceived benefits are coincidental, asserting that Trump treats donors the same as any other American.
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Karoline Leavitt, current White House press secretary, faces unresolved campaign debt from her 2022 congressional run, owing over $326,000 to numerous creditors. Despite the campaign raising no funds during the recent months, much of the debt stems from unreturned illegal contributions. The FEC, facing a lack of commissioners, cannot enforce any penalties for campaign finance violations. This situation underscores the lack of recourse creditors have when campaigns fail to pay their debts.
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Karoline for Congress’s campaign committee failed to raise any funds in the second quarter of the year and made no progress in paying off its considerable debt. This debt primarily stems from accepting illegal campaign contributions that have largely not been returned. The committee reported that it had already spent the illicit funds and had no cash available. Significant debts are owed to various individuals and firms, including former New Hampshire Governor Craig Benson and several consulting and polling companies.
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In a Truth Social post, former President Donald Trump accused Kamala Harris’ campaign of illegally paying millions for celebrity endorsements, including $3 million to Oprah Winfrey. Trump alleged that these payments violated campaign finance laws, stating that Harris and those who received endorsement money should be prosecuted. This accusation is the latest in a series of attempts to divert attention from renewed interest in the Jeffrey Epstein files. Notably, Trump’s opinion on Oprah has shifted from previous praise to criticism, reflecting a change in their relationship due to political endorsements.
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In a recent development, Senator Bernie Sanders has publicly condemned the American Israel Public Affairs Committee (AIPAC). He urged fellow Democrats to sever ties with the organization, citing its alleged role in Donald Trump’s presidential victory. Sanders’ stance was made clear during an event held at NHTI Concord Community College in Concord, New Hampshire. The Senator’s call for a boycott signals a significant shift in the ongoing debate surrounding U.S.-Israel relations and the role of influential lobbying groups.
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A new political action committee, OneNYC, has been formed to support Democratic mayoral nominee Zohran Mamdani, with Yasser Salem of Hira Ventures serving as chairman. This PAC emerges as the business and finance community mobilizes against Mamdani, who has proposed tax increases that have raised concerns. Simultaneously, a rival PAC, New Yorkers for a Better Future Mayor 25, has been launched with the goal of defeating Mamdani, potentially raising $20 million, while another group, New Yorkers for Lower Costs, continues to support Mamdani. These developments highlight the financial battle shaping up around the mayoral race, with various groups vying to influence the outcome.
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John Q. Hosedrinker