New York City’s wealthy residents are experiencing a “freakout” over Zohran Mamdani, a democratic socialist candidate whose platform includes policies like rent freezes and higher taxes on the rich. This panic is primarily driven by Mamdani’s primary victory and his stances, which have led to threats of relocation from some elites. While Mamdani campaigns across the city, opponents like former Governor Cuomo and Mayor Adams court wealthy donors in the Hamptons, with figures like grocery tycoon John Catsimatidis vowing to close his business if Mamdani is elected. Despite the concerns and criticisms from the elite, historical data suggests that these individuals will likely remain in the city.
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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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During the primary leading up to Assemblymember Zohran Mamdani’s win, the New York Times subtly implied he struggled to gain support from Jewish voters. The paper’s coverage frequently mentioned Mamdani’s criticism of Israel, creating the impression he had difficulty appealing to this demographic, despite having no solid evidence. Post-primary polls, including those from Zenith Research and GQR Research, revealed Mamdani leading with Jewish voters by significant margins. However, the New York Times largely disregarded these findings, offering vague justifications and relying on ambiguous language in subsequent articles, while also refusing to respond to specific questions about the discrepancy.
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Zohran Mamdani’s plan to fund affordable living in New York through a modest tax on millionaires has sparked predictable threats of tax flight. However, historical data reveals this threat is largely unfounded, as high-tax states often have the highest concentrations of millionaires. Despite fears of an exodus, increases in millionaire taxes have historically been followed by growth in the millionaire population. Millionaires are less likely to move than the general population, and the quality of life factors often outweigh tax considerations when choosing a place to live.
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Democratic nominee for New York City mayor, Zohran Mamdani, significantly outpaced his rivals in recent fundraising efforts, accumulating over $1 million in the past few weeks. This fundraising success surpasses both incumbent Mayor Eric Adams and former Governor Andrew Cuomo, who raised $425,000 and $507,000, respectively. Mamdani has a substantial war chest with $4.4 million in cash on hand, and he’s also receiving support from a pro-Mamdani super PAC funded by Elizabeth Simons, the daughter of a billionaire. In contrast, Cuomo is backed by a super PAC that received donations from billionaire Walmart heir Alice Walton.
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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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Following the release of a leaked audio recording from a Hamptons fundraiser, Zohran Mamdani, the Democratic New York City mayoral nominee, seized on comments made by Andrew Cuomo. In the recording, Cuomo expressed confidence that Donald Trump and other Republicans would support his candidacy to defeat Mamdani in the upcoming general election. Mamdani condemned Cuomo for welcoming help from Trump, whose policies have threatened the city. Polling suggests Mamdani holds a significant lead over his rivals, though that advantage shrinks if certain candidates leave the race.
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In a recent analysis, it’s been argued that Russia’s pursuit of Ukrainian territory is financially unsustainable. The costs of such an endeavor, including military operations, occupation, and reconstruction, would be crippling for the Russian economy. Therefore, the international community must ensure that any territorial gains are not achieved without significant financial repercussions for Russia. This means holding Russia accountable for its actions and denying it the opportunity to seize land without bearing the full economic burden.
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Despite Zohran Mamdani’s nomination for New York City mayor, U.S. House Minority Leader Hakeem Jeffries has not endorsed him, drawing criticism from progressives. Jeffries’ reluctance to support Mamdani, who champions policies like a rent freeze and universal public transportation, has been interpreted as a move to appease the establishment. Some sources have noted Jeffries’ ties to the American Israel Public Affairs Committee and opposition to Mamdani’s support of Palestinian liberation, with the former’s position against endorsing Mamdani even despite polling that shows support for the nominee among New York’s Jewish voters. Ultimately, Jeffries’ actions are seen by some as undermining the Democratic Party.
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According to Covers.com, Zohran Mamdani’s odds of winning the 2025 New York mayoral election have increased significantly, rising to 82 percent. This shift is attributed to a New York Times report indicating that Donald Trump considered intervening in the race, which “backfired” according to the betting insights website. Incumbent Mayor Eric Adams and former Governor Andrew Cuomo, also contesting the election, have seen their odds decrease and remain stagnant, respectively. Mamdani’s campaign is seen as a potential major victory for the left, with political strategists suggesting that voters are drawn to his vision and are tired of performative politics.
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John Q. Hosedrinker