Billionaire Begs for New Candidate to Challenge Socialist NYC Mayoral Candidate, Promising Funding: 'Save Our City'

Billionaire Bill Ackman is calling for a new candidate to challenge Democratic socialist and New York City mayoral hopeful Zohran Mamdani, who defeated Andrew Cuomo in the primary, and has pledged to fund their campaign.

Ackman, whose net worth is estimated at $9.3 billion, posted a nearly 1,500-word message on X Wednesday evening, expressing that he is "gravely concerned" about the future of New York City after "an avowed socialist" who supports defunding the police, opening city-run supermarkets, and freezing rent won the Democratic primary. Mamdani also promised free childcare, baby baskets for newborns and a $30 minimum wage for New Yorkers.

The 59-year-old hedge fund manager stated he believed Mamdani won not because of his policies but because of his youth, intelligence and charm, adding that the 33-year-old Democratic socialist "ran a remarkable and inspiring campaign" that pitched a "joyful campaign of unity" against "very weak" competition.

In his lengthy post, Ackman warned that Mamdani's policies would be "disastrous," arguing that "socialism has no place in the economic capital of our country." He claimed that proposals like frozen rents and cheaper food from city-owned markets "are certain to fail," though he offered no evidence to support the assertion. He also argued that freezing rent would "destroy our housing base and shrink the affordable housing supply while killing new construction."

Ackman said the good news is there are "132 days until the election," leaving enough time for a worthy candidate to "garner immediate name recognition, enormous media interest, and the visibility needed to get elected."

"Importantly, there are hundreds of million of dollars of capital available to back a competitor to Mamdani that can be put together overnight (believe me, I am in the text strings and the WhatsApp groups) so that a great alternative candidate won't spend any time raising funds," Ackman wrote.

"So, if the right candidate would raise his or her hand tomorrow, the funds will pour in," Ackman continued, adding that he was certain fellow billionaire and former NYC Mayor Mike Bloomberg would "share his how-to-win-the-mayoralty IP and deliver his entire election apparatus and system to the aspiring candidate."

"Who is your best centrist candidate who could go toe-to-toe with Mamdani on the campaign trail and on the debate stage? Let's crowdsource the names and then do a poll," Ackman wrote in his post on X, which has been viewed more than 3 million times. He added that he would handle fundraising if someone steps forward.

"This is a once-in-a-lifetime opportunity for the right candidate," Ackman continued. "More importantly, it is an opportunity to save our City and be a superhero... The time is now."