Billionaire hedge fund manager Bill Ackman is offering "hundreds of millions of dollars" to back a challenger to New York City mayoral candidate Zohran Mamdani.
"There are hundreds of million of dollars of capital available to back a competitor to Mamdani that can be put together overnight (believe me, I am in the text strings and the WhatsApp groups) so that a great alternative candidate won't spend any time raising funds," Ackman said in a post on X.
"So, if the right candidate would raise his or her hand tomorrow, the funds will pour in. I am sure that Mike Bloomberg will share his how-to-win-the-mayoralty IP and deliver his entire election apparatus and system to the aspiring candidate so that the candidate can focus all of his or her energy on the campaign."
Mamdani, a Democratic socialist, beat former Gov. Andrew Cuomo in New York City's Democratic primary.
He's set to run against current mayor Eric Adams and Republican nominee Curtis Sliwa in the general election.
Ackman in the same post called Mamdani a "superb politician who ran a remarkable and inspiring campaign."
But "his policies would be disastrous for NYC. Socialism has no place in the economic capital of our country. The ability for NYC to offer services for the poor and needy, let alone the average New Yorker, is entirely dependent on NYC being a business-friendly environment and a place where wealthy residents are willing to spend 183 days and assume the associated tax burden," wrote Ackman.
"Unfortunately, both have already started making arrangements for the exits."
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.