New York City mayoral candidate Zohran Mamdani, a self-proclaimed socialist who has publicly stated that billionaires shouldn't exist, is facing criticism after a super PAC aligned with his campaign received a hefty donation from the heiress to a billionaire hedge fund manager's fortune.
Elizabeth Simons, daughter of the late Jamie Simons, founder of Renaissance Technologies, donated $250,000 to the New Yorkers for Lower Costs PAC, which supports Mamdani. Jamie Simons amassed a personal fortune of $31.4 billion and donated billions to charity.
Mamdani's previous statements, including one in June where he told NBC News, "I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality," are now under scrutiny.
Cuomo Slams Mamdani's Alleged Hypocrisy
Former New York Governor Andrew Cuomo, a rival candidate, didn't hesitate to call out Mamdani on X (formerly Twitter), accusing him of hypocrisy. Cuomo's post read, "Congrats to you, @ZohranKMamdani for completing the holy trinity of hypocrisy: Eat the rich → Cash their PAC checks. Freeze the rent → Rich guy in affordable housing you don’t need. Defund the police → Armed guards worldwide… from the campaign trail to Uganda. You are what you pretend to fight."
Mamdani Leads in Fundraising
Despite the controversy, Mamdani is currently leading in fundraising for the mayoral race. He raised $1.05 million between early July and mid-August, significantly outpacing Cuomo ($541,000), incumbent Mayor Eric Adams ($425,181), and Republican candidate Curtis Sliwa ($407,332).
Mamdani's campaign has proposed policies such as rent freezes, free buses and childcare, city-run grocery stores, and increased taxes on Columbia and New York University to subsidize city colleges and trade schools.
Polling Advantage
Mamdani also holds a polling advantage over his rivals. A recent Siena poll placed him 19 points ahead of Cuomo, and a Decision Desk HQ average puts him 13 points ahead.
It remains to be seen how this controversy will impact Mamdani's campaign as the election draws closer. The Mamdani campaign and New Yorkers for Lower Costs PAC have been contacted for comment.