The Billionaires of New York Are Finally Bending the Knee
It's a moment of triumph for the people of New York City. Zohran Mamdani, the city's newly elected mayor and first Muslim mayor in U.S. history, has defied the odds to win over the hearts – and wallets – of the city's billionaire elite.
The road to victory was paved with controversy and hostility. Mamdani faced relentless attacks from his opponents, who portrayed him as an extremist and a threat to American values. But despite the vitriol, Mamdani persevered, and on Tuesday night, he emerged victorious in a stunning upset.
And now, it seems that many of those billionaires are eating their words – or at least, offering them back with a smile. Bill Ackman, the hedge fund mogul who had contributed nearly $2 million to anti-Mamdani efforts, tweeted out congratulations early Wednesday morning, saying "congrats on the win. Now you have a big responsibility." Ackman's olive branch was met with scorn from some of his peers, but for now, at least, he appears willing to put aside their differences.
JPMorgan Chase CEO Jamie Dimon has also extended an offer of assistance, urging Mamdani to call the outgoing mayor of Detroit for advice. While Dimon's words were laced with condescension, it seems that even he recognizes the importance of finding common ground – as long as it suits him, of course.
And then there's Mike Novogratz, the crypto billionaire who urged his fellow billionaires to reach out to Mamdani and offer their support. "Once you're the mayor, we've got to be sure he's successful in keeping New York a thriving community," he said. But it remains to be seen whether this newfound cooperation is genuine or just another way for the rich to line their own pockets.
Of course, not all of the billionaires are willing to swallow their pride so easily. Joe Gebbia, co-founder of Airbnb and a major donor to anti-Mamdani super PACs, has remained silent on the matter. And billionaire Bloomberg, who spent $5 million trying to defeat Mamdani in the primary, has also kept mum.
But as the dust settles, one thing is clear: the billionaires of New York City have finally found themselves on the receiving end of some well-deserved humility. And for now, at least, that's something to celebrate.
It's a moment of triumph for the people of New York City. Zohran Mamdani, the city's newly elected mayor and first Muslim mayor in U.S. history, has defied the odds to win over the hearts – and wallets – of the city's billionaire elite.
The road to victory was paved with controversy and hostility. Mamdani faced relentless attacks from his opponents, who portrayed him as an extremist and a threat to American values. But despite the vitriol, Mamdani persevered, and on Tuesday night, he emerged victorious in a stunning upset.
And now, it seems that many of those billionaires are eating their words – or at least, offering them back with a smile. Bill Ackman, the hedge fund mogul who had contributed nearly $2 million to anti-Mamdani efforts, tweeted out congratulations early Wednesday morning, saying "congrats on the win. Now you have a big responsibility." Ackman's olive branch was met with scorn from some of his peers, but for now, at least, he appears willing to put aside their differences.
JPMorgan Chase CEO Jamie Dimon has also extended an offer of assistance, urging Mamdani to call the outgoing mayor of Detroit for advice. While Dimon's words were laced with condescension, it seems that even he recognizes the importance of finding common ground – as long as it suits him, of course.
And then there's Mike Novogratz, the crypto billionaire who urged his fellow billionaires to reach out to Mamdani and offer their support. "Once you're the mayor, we've got to be sure he's successful in keeping New York a thriving community," he said. But it remains to be seen whether this newfound cooperation is genuine or just another way for the rich to line their own pockets.
Of course, not all of the billionaires are willing to swallow their pride so easily. Joe Gebbia, co-founder of Airbnb and a major donor to anti-Mamdani super PACs, has remained silent on the matter. And billionaire Bloomberg, who spent $5 million trying to defeat Mamdani in the primary, has also kept mum.
But as the dust settles, one thing is clear: the billionaires of New York City have finally found themselves on the receiving end of some well-deserved humility. And for now, at least, that's something to celebrate.