Most Billionaires Tried to Block Rise of NYC Mayor-elect Mamdani, but Two Helped Him Win
According to a report by Forbes, while dozens of billionaires spent millions to obstruct Zohran Mamdani’s path to New York City’s mayoral victory, two wealthy donors provided crucial support.
Two Key Supporters
The report noted that 26 billionaires collectively spent over $22 million in attempts to stop Mamdani from winning. However, Elizabeth Simons and Tom Preston-Werner chose to back him instead.
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Elizabeth Simons, daughter of the late hedge fund investor Jim Simons, contributed $250,000 in August to New Yorkers for Lower Costs, the main independent group supporting Mamdani. She also leads the Heising-Simons Foundation, which has awarded over $1.3 billion to initiatives focused on climate action, education, and human rights.
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Tom Preston-Werner, co-founder of GitHub and a California-based venture capitalist, donated $20,000 to the same group in April. His foundation has distributed around $28 million since 2019, according to Forbes' review of tax filings.
A Historic Election
On Tuesday, Zohran Mamdani became the first Muslim and South Asian to win the office of New York City Mayor. His victory signaled a shift in the city’s political landscape, despite significant financial opposition from powerful business figures such as Michael Bloomberg and Reed Hastings.
Forbes reported that “most billionaires tried to block Mamdani’s rise, but two helped him win.”
Summary
Forbes revealed that two major donors, Elizabeth Simons and Tom Preston-Werner, backed Zohran Mamdani’s historic mayoral win against the financial opposition of over two dozen billionaires.