Zohran Mamdani was elected mayor of New York City on Tuesday, marking a rapid rise for the 34-year-old state lawmaker who is set to become the city’s most “progressive” leader in decades.In a win for the Democratic Party’s progressive wing, the Indian-origin democrat defeated former Governor Andrew Cuomo and Republican Curtis Sliwa.When Mamdani takes office on January 1, he will become the highest-ranking elected Muslim official in the United States. His victory marks a major win for progressives, driven by a new coalition of young voters and immigrants who powered his campaign with small donations and strong voter turnout, making him New York City’s first Muslim mayor.The victory did not come easily for Mamdani. More than 20 billionaires spent heavily to block Mamdani’s path to leading the nation’s most populous city, starting with the Democratic primary, where he first faced former New York Governor Andrew Cuomo.Taxing the richMamdani alarmed many traditional Democratic donors and influential real estate magnates with his pledge to freeze rent prices and slightly increase taxes on the wealthiest 1 percent of New Yorkers.In September, some of New York’s wealthiest landlords and business leaders met with Cuomo to “plot his path to City Hall,” as the city’s largest developer urged them to unite in their efforts to stop Mamdani, as cited by the New York Times. Throughout his campaign, Mamdani frequently commented on the vast amount of money being spent against him. “They’re spending more money than I would ever tax them,” Mamdani said in an interview with MSNBC last week.
Who is Zohran Mamdani and why he’s in news
Here are some of the billionaires who reportedly spent millions to try to block Mamdani’s path to New York City Hall.Michael BloombergFormer New York City mayor and Bloomberg LP cofounder Michael Bloomberg, whose net worth now exceeds $100 billion, donated $5 million to Cuomo’s “Fix the City” committee in the final month of the campaign. This followed more than $8 million he contributed to support Cuomo during the Democratic primary.Joe Gebbia Airbnb cofounder Joe Gebbia spent a total of $2 million on the race, contributing $1 million each to “Fix the City” and “Defend NYC. Gebbia, who serves as Chief Design Officer for US President Donald Trump and has an estimated net worth of $7.7 billion, backed Cuomo in the final days of the campaign, as reported by The Times. Lauder FamilyRonald Lauder, son of cosmetics pioneer Estée Lauder, contributed $750,000 to “Fix the City” in September and another $250,000 in October. Lauder, who has led the World Jewish Congress since 2007 and is a strong supporter of Israel, was joined by his family in backing the effort. His wife, Jo Carole Lauder, donated $500,000, while his nephew, William Lauder, contributed $1 million.Barry DillerMedia mogul Barry Diller, founder of Fox alongside Rupert Murdoch and chairman of IAC and Expedia Group, contributed a total of $500,000 to “Fix the City” through two separate donations, as cited by The Times.Bill AckmanHedge fund investor Bill Ackman has been among the most vocal critics of Mamdani. Between April and October 2025, he donated $1 million to “Defend NYC” and $750,000 to “Fix the City.”Despite the odds against him, Mamdani emerged victorious in the mayoral election, with more than 2 million people casting their votes, the highest turnout for a New York City mayoral race since 1969.
