Zohran Mamdani wins NYC mayor's race in blow to billionaires who bet against him

"It's official: Zohran Mamdani will be the next mayor of New York City. The Associated Press has projected that the Democratic nominee and state assemblyman will defeat former Gov. Andrew Cuomo and GOP candidate Curtis Sliwa in the city's closely watched mayoral election. Mamdani was projected to win 50% of the vote when the race was called, less than an hour after polls closed. Cuomo held 41.4% of the vote, and Sliwa 7.7%. Mamdani will be the city's first Muslim mayor. The 34-year-old is also the youngest person to be elected mayor of the city in over 100 years."

"A self-described democratic socialist, Mamdani campaigned on a platform of affordability for working-class New Yorkers, proposing initiatives like free buses, no-cost childcare, and a rent freeze. He won despite facing down millions of dollars in political spending from prominent billionaires in both the Democratic primary and the general election. Former New York City Mayor Mike Bloomberg, Bill Ackman, Joe Gebbia, and Barry Diller were among the billionaires who collectively poured millions of dollars into outside groups that backed Cuomo and opposed Mamdani, who, for his part, has said billionaires should not exist."

"Cuomo also won the support of two other major billionaires on the eve of the election: President Donald Trump and Elon Musk. "Whether you personally like Andrew Cuomo or not, you really have no choice," Trump wrote on Truth Social on Monday night. "You must vote for him, and hope he does a fantastic job. He is capable of it, Mamdani is not!" "Bear in mind that a vote for Curtis is really a vote for Mumdumi or whatever his name is," Musk wrote on X. "VOTE CUOMO!""

The Associated Press projected Zohran Mamdani as the next mayor of New York City after he secured 50% of the vote, with Andrew Cuomo at 41.4% and Curtis Sliwa at 7.7%. Mamdani, 34, will be the city's first Muslim mayor and the youngest elected mayor in over a century. A self-described democratic socialist, Mamdani ran on affordability measures including free buses, no-cost childcare, and a rent freeze. He prevailed despite substantial outside spending by prominent billionaires who backed Cuomo, and despite late endorsements for Cuomo from Donald Trump and Elon Musk.

Read at Business Insider