A significant amount of $22 million has been raised to block Zohran Mamdani, the Democratic nominee, with 26 billionaires contributing to his defeat.
Zohran Mamdani, a New York State Assemblyman, remains a strong contender in the New York City mayoral race, despite facing opposition from American elites.
"Billionaires like Bill Ackman and Ronald Lauder have poured millions of dollars into this race because they say we pose an existential threat," Mamdani told supporters. "I am here to admit something, they are right."
Notable billionaires, including Michael Bloomberg and Richard Kurtz, are among those opposing Mamdani's campaign.
Author's summary: Billionaires spend $22 million to defeat Zohran Mamdani.