Billionaire Bill Ackman Vows to Fund Rival Candidate to Block Zohran Mamdani

New York, MINA – US billionaire Bill Ackman has declared his readiness to finance a New York City mayoral candidate in an effort to thwart Zohran Mamdani, the young progressive Democrat who has emerged as a leading contender in the race.

Ackman, the founder of Pershing Square Capital Management, is a highly influential figure in the US financial world. Beyond his investment success, he is known for his vocal political views, including his support for President Donald Trump, as reported by Al-Jazeera.

In his statement, Ackman expressed concerns over the left-leaning economic policies advocated by Mamdani. The Jewish tycoon believes that Mamdani’s progressive approach could have detrimental effects on the city’s economy.

Ackman, who is also an active social media presence with a substantial following on platform X, frequently voices his opinions on issues ranging from antisemitism to the 2024 presidential election. He is now turning his attention to local New York City politics.

Also Read: Portugal to Recognize State of Palestine

Zohran Mamdani secured a significant victory over several prominent figures, including former New York Governor Andrew Cuomo and City Comptroller Brad Lander, in the internal Democratic Party primary.

Mamdani is recognized for his ambitious left-wing economic platform. He has pledged to raise the minimum wage, increase taxes on corporations and wealthy individuals, establish city-owned essential goods stores, and implement rent freezes for rent-stabilized units.

The political contest for New York City Mayor is intensifying with Ackman’s involvement. His move to back a centrist candidate reflects the growing ideological divide within the Democratic Party, which could significantly influence the policy direction of the largest city in the U.S.

Given the city’s complex economic landscape and evolving social challenges, the outcome of this election will be a crucial determinant for the future of New York City. [Shibgho]

Also Read: Arab States Call on Hamas to Relinquish Power to Save Two-State Solution

Mi’raj News Agency (MINA)