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Billionaire hedge fund manager Bill Ackman has no-nonsense reply to Zohran Mamdani
Billionaire hedge fund manager Bill Ackman has no-nonsense reply to Zohran Mamdani originally appeared on TheStreet.
Billionaire hedge fund manager Bill Ackman expressed grave concerns over Zohran Kwame Mamdani's victory in the New York City Democratic mayoral primary, calling it an indicator of "political decay."
The son of filmmaker Mira Nair, Mamdani's unorthodox Bollywood-themed election campaign and Queens background have appealed to a substantial number of voters.
Earlier, the young politician went after his primary challenger, former Governor Andrew Cuomo, for counseling cryptocurrency exchange OKX while a federal investigation was pending against it. Mamdani's assertion was based on a news report that Bloomberg published on April 2.
New York is a major center of crypto adoption in the U.S. and the city's current mayor, Eric Adams, is a strong Bitcoin proponent. In a recent conversation with TheStreet Roundtable, he talked about the opportunity offered by Bitcoin to those historically overlooked by Wall in contrast, offers an alternative economic agenda to the city.
On June 26, the Pershing Square Foundation founder Bill Ackman posted on X that Mamdani is an "avowed socialist" and lacks the necessary skillset to run a $2 trillion city economy. Ackman added that Mamdani's policies, such as defunding the police and implementing managed food systems, would derail the way the city is run if enacted. He added:
"New York City under Mamdani is about to become much more dangerous and economically unviable."
While acknowledging Mamdani's considerable 'charisma" and skill as a campaigner, Ackman said the competition was weak and Democrats were old, adding it was "embarrassing" to see their establishment figures align with the 33-year-old.
Now, Ackman has stated that he is willing to sponsor a write-in candidate for Mayor of New York, but he would like to solicit suggestions from the isn't the only industry leader who is upset with Mamdani's recent win. Cameron Winklevoss, the billionaire founder of the Gemini crypto exchange, also seems skeptical of Mamdani's chances in the general election in November.
However, crypto traders on Polymarket were nearly unanimous in predicting that Mamdani would win the primary, with over 99% of the bets placed on his victory.
Billionaire hedge fund manager Bill Ackman has no-nonsense reply to Zohran Mamdani first appeared on TheStreet on Jun 26, 2025
This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared.
