Billionaire Bill Ackman backs anti-Mamdani group with $1m donation ahead of NYC mayoral election
US billionaire investor Bill Ackman has donated $1 million to a super PAC (political action committee) aiming to block Zohran Mamdani's bid to become mayor of New York City, reports Bloomberg.
With less than three weeks until election day, Mamdani, a democratic socialist and the Democratic nominee, holds a solid lead over independent candidate Andrew Cuomo, the former state governor. Republican Curtis Sliwa is trailing in third place.
Ackman's contribution went to Defend NYC, a group set up by a former adviser to Donald Trump.
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Hedge fund manager Daniel Loeb also donated $100,000 to the same group.
Super PACs supporting Cuomo have so far raised over $40 million, compared to around $20 million backing Mamdani.
Notably, a group that raises money for political campaigns is known as a PAC.
Mamdani's campaign has largely relied on small donations from city residents, boosted by public matching funds under New York's campaign finance rules.
Mamdani, who won a surprise victory in the Democratic primary, has campaigned on policies such as free public transport, subsidised childcare, and higher taxes on the wealthy.
His positions have drawn both grassroots enthusiasm and criticism from across the political spectrum.
