Billionaire investor Bill Ackman has called on New York City Mayor Eric Adams to bow out of the mayoral race and throw his support behind former Gov. Andrew Cuomo, warning that a victory by Assemblymember Zohran Mamdani would be "catastrophic" for the city.
"Eric has been a charismatic and high-energy leader who has shown real empathy ... but unfortunately, his polls have deteriorated substantially," Ackman wrote on X. "It has become increasingly clear that he does not have a chance to beat @ZohranKMamdani."
Ackman praised Adams for overseeing a strong economy, reducing crime, and making progress on housing, but said the best way for him to serve New York now would be to step aside and support Cuomo.
"Mayor Adams, it is time for you to play a critical role in NYC's future by gracefully stepping aside to enable Andrew to win. We will all be eternally grateful," Ackman wrote.
Ackman argued Mamdani's policies amount to "socialism" that would devastate New York, while Cuomo's experience and renewed motivation make him the only candidate capable of defeating Mamdani.
The full Ackman post on X:
It is time for Mayor Adams to step aside.
@ericadamsfornyc has done a very good job as our mayor. The economy is strong. Crime is down. He has managed the migrant situation very effectively. He has set the stage for more affordable housing and material improvements in our quality of life and a better NYC for all. And he hasn't gotten the credit he deserves for the progress he has made.
Eric has been a charismatic and high-energy leader who has shown real empathy and provided critical moral and other support to NY communities in their time of need.
All of that said, Eric should step aside and not run for reelection. Eric's polls have deteriorated substantially since the primary, and it has become increasingly clear that he does not have a chance to beat @ZohranKMamdani.
Eric loves our city. The greatest contribution he can make to NYC is to announce tomorrow that he is not going to run for reelection and that he is going to throw his support behind
@andrewcuomo.
This is the most consequential NYC mayoral election in many decades. Electing an anti-business, Socialist, mayor who supports terrorism as a means of 'resistance' would be catastrophic for New York and our country.
I understand Zohran's appeal, particularly to young people. He is young and charismatic. He has nice sounding ideas.
Who doesn't want lower rents, cheaper food and free transportation?
But unfortunately, socialism will not take us to the promised land, let alone allow Zohran to deliver on his campaign promises.
Ask Cubans, Venezuelans, and those who lived in the former Soviet Union what life is like in a Socialist country.
They will tell you that the promised land is a wasteland.
And Mamdani has no experience, none, in managing a business, let alone the most consequential and largest city in our country.
There is a lot that needs to be improved in New York City.
@andrewcuomo is an experienced leader that cares deeply about our city who has the relevant experience and skills necessary to lead and greatly improve NYC.
Andrew had major accomplishments as our governor. He also made some mistakes. I am a huge believer in backing leaders who have learned from their mistakes and have something to prove.
Andrew is extremely motivated to help our city. He can win in a two-horse race with Adams' help.
Mayor Adams, it is time for you to play a critical role in NYC's future by gracefully stepping aside to enable Andrew to win.
We will all be eternally grateful.
We have only 60 days until the election, and only 50 before early voting begins.
The time is now.
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