Home Depot cofounder Ken Langone: 'New York is on the verge of making a monumental mistake'

"Home Depot cofounder Ken Langone doesn't seem to be looking forward to next Tuesday. Langone took a not-so-subtle shot at New York City mayoral frontrunner Zohran Mamdani while speaking at Goldman Sachs' 10,000 Small Businesses Conference in Washington, DC, on Wednesday. "New York is on the verge of making a monumental mistake," Langone, a Long Island native, said when asked about capitalism."

"The 90-year-old called himself 'an unabashed, devout lover of capitalism' minutes after his comments about New York; Mamdani describes himself as a Democratic Socialist. Langone is worth $9.3 billion, according to Forbes; Mamdani has previously said that billionaires shouldn't exist. Representatives for Mamdani did not respond to Business Insider's request for comment. JPMorgan Chase CEO Jamie Dimon has also expressed doubts about the mayoral hopeful, but said he'd call Mamdani and offer to help should the current assemblyman become mayor."

Ken Langone warned that New York is 'on the verge of making a monumental mistake' over the likely election of Zohran Mamdani. Langone characterized himself as 'an unabashed, devout lover of capitalism' and contrasted that with Mamdani's Democratic Socialist identification. Langone's net worth is $9.3 billion, while Mamdani has said billionaires shouldn't exist. Many business leaders and wealthy donors oppose Mamdani and have funded efforts to prevent his mayoralty, though some Wall Street employees support him. JPMorgan CEO Jamie Dimon has expressed doubts but offered to call and potentially help if Mamdani becomes mayor.

Read at Business Insider