Sen. Bernie Sanders (I-VT) is calling out billionaire interference in New York City politics, warning that the mayoral race has become a battle over the soul of democracy.
In a recent post on X, Sanders said, “The NYC mayor's race is not just about who wins. It's whether ordinary citizens have ANY power in our ‘democracy,' or whether billionaires control it all.”
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Ackman Rallies Wealthy Donors To Stop Mamdani
Sanders was responding to hedge fund billionaire Bill Ackman, who has publicly pledged to spend big in order to stop Zohran Mamdani, a 33-year-old democratic socialist who recently defeated Andrew Cuomo in the Democratic primary. Mamdani’s campaign focused on lowering the cost of living for New Yorkers through policies like rent freezes, city-owned supermarkets, and free public transit funded by taxes on the wealthy.
In a lengthy statement on X on June 26, Ackman called Mamdani’s win “gravely concerning,” warning that his platform would “destroy jobs,” “shrink the affordable housing supply,” and drive the city's wealthiest taxpayers away. “Socialism has no place in the economic capital of our country,” Ackman posted.
Ackman admitted that Mamdani had run an “inspiring campaign” and is “young and charming,” but said the win happened largely because of weak competition and dissatisfaction with the Democratic Party's aging leadership. He argued that Mamdani's policies would make New York City “much more dangerous and economically unviable.”
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Ackman said he's not running himself, citing his support for President Donald Trump as disqualifying in Democratic circles. But he promised that if a centrist candidate “raises his or her hand,” then “the funds will pour in.”
“There are hundreds of millions of dollars of capital available to back a competitor to Mamdani that can be put together overnight,” he said, adding that he's already in “the text strings and the WhatsApp groups.”
He even floated the idea of billionaire Michael Bloomberg lending his full election infrastructure to help such a candidate focus solely on campaigning.
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Mamdani's Win Sends Shockwaves
Mamdani, who overcame repeated attacks over his background, faith, and lack of government experience, is now the frontrunner in the November election. He faces incumbent Mayor Eric Adams, running as an independent, and Republican Curtis Sliwa. Cuomo also hasn’t ruled out running as an independent.
Sanders urged voters to resist the billionaire push: “Trump donor Ackman & other billionaires are prepared to spend hundreds of millions to defeat Zohran. We can't let them win.”
While voter turnout in the city’s mayoral elections has historically been low, this race is shaping up to be a national flashpoint. Ackman himself called it “the most closely watched mayoral election in NYC in decades, perhaps ever,” and said it offers a “once-in-a-lifetime opportunity” for a centrist to step in. “It is an opportunity to save our City and be a superhero.”
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