Latest news with #mayoralElection
Bloomberg
8 hours ago
- Business
- Bloomberg
Mamdani Wants to Meet With Major Business Heads, Wylde Says
By Nacha Cattan and Updated on Save New York City mayoral candidate Zohran Mamdani will meet with members of New York City's business community in July, according to one of the city's most influential power brokers. Kathy Wylde, president of the Partnership for New York City, received a call from Mamdani, a democratic socialist, on Thursday seeking an opportunity to explain his intentions and vision to business leaders, she told Bloomberg. The Partnership for New York City is a coalition of more than 300 companies including banks, media companies, and investment, real estate, and law firms.
The Independent
13 hours ago
- Politics
- The Independent
NYC Mayor Eric Adams rips into Mamdani's ‘socialist' agenda, says he ‘doesn't have the authority' to tax the rich
New York City Mayor Eric Adams has ripped into Democratic mayoral nominee Zohran Mamdani 's so-called 'socialist' agenda, saying he 'doesn't have the authority' to tax the wealthiest New Yorkers. In a political upset Tuesday night, Mamdani, a self-described democratic socialist, beat former Governor Andrew Cuomo in the Democratic primary. Mamdani will be on the ballot against Adams, who dropped out of the primary to run as an independent after his corruption charges were dropped by the Trump administration. Cuomo is also staying in the race on the 'Fight & Deliver' ballot line, CNN reported, citing unnamed sources. Mamdani, who started as a little-known Queens assemblyman, is campaigning on affordability for average New Yorkers. He has promised to freeze rent for stabilized units and make buses free. In an interview with CNN's Erin Burnett Thursday evening, Mamdani said freezing the rent doesn't cost the city any money, but making buses free would cost around $700 million. He defended his proposed social programs, saying they would be paid for in part by increasing the income taxes on the top one percent of New Yorkers by two percent. Adams criticized Mamdani's platform while on The Lead with Jake Tapper Friday evening, telling the CNN host, 'I'm competing against him because this is not a socialist city.' It's unclear what Adams meant by a 'socialist city.' The key characteristic of socialism is that the government controls the means of production rather than private citizens. The New York Times described democratic socialism in a recent article as 'an ideology rooted in its opposition to capitalism and wanting to shift power to workers from corporations.' Adams said Mamdani ' doesn't have the authority to raise income tax on the top one percent of New Yorkers. Assemblymens have that authority, and that's who he is. He couldn't do it in the [New York State] Assembly. How you gonna deliver it as the mayor of the city?' The mayor also said Mamdani had the authority to make buses free in the Assembly, and that he gave Mamdani a pilot project for it, which he 'failed' to carry out. Adams argued with Tapper when the host said Mamdani has the authority to freeze the rent. 'There's an independent rent guideline boards that independently make their decisions, so he does not have the authority to do that,' the mayor insisted. Mamdani did say during his interview with Burnett that freezing the rent is 'something that's determined by the rent guidelines board, composed of nine members.' But that 'the mayor picks each of those members.' Since Adams took office in 2022, the board has raised the rent each year, The City reported. While Mamdani may wish to replace members of the board if he's elected, it may not be that easy, as board members are appointed to terms as long as four years.
Yahoo
17 hours ago
- Business
- Yahoo
Billionaire slams Zohran Mamdani's chances in New York City race
Billionaire slams Zohran Mamdani's chances in New York City race originally appeared on TheStreet. While the young Indian-American politician Zohran Kwame Mamdani, whose Bollywood-style election campaign went viral, won the Democratic primary for the New York City mayoral election, a leading crypto entrepreneur isn't sure of him winning the final race. On June 24, crypto billionaire Cameron Winklevoss wrote on X that while Mamdani generated primary buzz among the "TikTok crowd," he doubts New Yorkers will elect him during the general election in November. Cameron and Tyler Winklevoss are identical twin brothers who co-founded the Gemini cryptocurrency exchange in 2014. It is among the largest crypto exchanges in the world, turning the Winklevoss brothers into among the world's first Bitcoin there is widespread crypto adoption in New York City, the Democratic mayoral primary was closely watched by the crypto community. The current mayor of New York, Eric Adams, is a strong Bitcoin advocate. In a recent conversation with TheStreet Roundtable host Scott Melker, Adams said he is considering creating a Bitcoin-based investment vehicle for New Yorkers. On the other hand, Mamdani criticized his primary adversary, Andrew Cuomo, for advising the crypto exchange OKX that "broke US law."Cuomo is a veteran Democratic politician who served as the 56th governor of New York from 2011 to 2021. Bloomberg reported on April 2 that OKX hired Cuomo to counsel the crypto exchange while there was a federal probe going on against it for alleged anti-money laundering (AML) violations. The New York mayoral election in November holds immense importance as it can potentially pivot crypto policy in an altogether different direction in the city. Billionaire slams Zohran Mamdani's chances in New York City race first appeared on TheStreet on Jun 25, 2025 This story was originally reported by TheStreet on Jun 25, 2025, where it first appeared. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
17 hours ago
- Business
- Yahoo
Billionaires lash out as socialist Zohran Mamdani wins NYC mayoral primary
Billionaires lash out as socialist Zohran Mamdani wins NYC mayoral primary originally appeared on TheStreet. The young politician Zohran Mamdani recently declared victory in the Democratic primary for the New York City mayoral election, beating former city governor Andrew Cuomo. The 33-year-old Indian-American politician ran an effective election campaign, replete with India's Hindi-language movie quotes and Bollywood actor Shah Rukh Khan's iconic poses. However, it is his socialist economic agenda for NYC that has drawn sharp reactions from crypto industry leaders. Among the most prominent crypto leaders to criticize Mamdani's primary win was the billionaire Cameron Winklevoss. Cameron, along with his identical twin brother Tyler, co-founded the Gemini cryptocurrency exchange in 2014. As Gemini emerged as one of the world's top crypto exchanges, the twins became the world's first Bitcoin billionaires. Cameron Winklevoss doubted the city would elect Mamdani during the general election in November even if the socialist leader successfully wooed what Winklevoss called the "TikTok crowd" this time. Join the discussion with CryptoWendyO on. The Gemini boss later wrote on X that a lot of people had asked him if he will support a candidate who can defeat Mamdani in the NYC mayoral race. He added: "TBH, I'm torn and undecided. Like every other city run by democrats, NYC is a broken kleptocracy. Taxes are astronomical and services are pathetic to nonexistent. Anarchy and socialism are the next logical steps in this story arc." Winklevoss said it's what people in the city have been asking for years, and it would be a waste of money to fight against the tide. However, there is one billionaire who is considering supporting a candidate against Mamdani in the November election. Bill Ackman, the founder and CEO of the hedge fund management firm Pershing Square Capital Management, said an "avowed socialist" like Mamdani lacks the necessary skillset to run a $2 trillion city economy. The billionaire said he is open to sponsoring a write-in candidate against Mamdani and added: "Importantly, there are hundreds of million of dollars of capital available to back a competitor to Mamdani that can be put together overnight (believe me, I am in the text strings and the WhatsApp groups) so that a great alternative candidate won't spend any time raising funds." Crypto entrepreneur Anthony Pompliano was scathing in his criticism of those who voted for Mamdani. Pompliano is the founder and CEO of Professional Capital Management and a vocal Bitcoin advocate. Reacting to the recent political development in NYC, he said that those "who got their brains fried on TikTok" are attacking capitalism. Join the discussion with Scott Melker on. The Bitcoin bull, however, underlined that regardless of who the mayor, governor, or president is, "Bitcoin keeps winning." He added: "Bitcoin was created to be a sovereign, decentralized asset that allowed anyone to benefit from the principles of sound money." Pompliano also said, "In a weird way, the crazier the economic policies of leaders [are], the more Bitcoin will be of benefit to people." As reported earlier, crypto betters on prediction markets nailed Mamdani winning the Democratic mayoral primary, as over 99% of the Polymarket traders bet on the young leader. Join the discussion with Zack Guzman on. New York City's current mayor, Eric Adams, is a strong Bitcoin advocate. Mamdani, on the other hand, hasn't talked about crypto specifically so far, though in the middle of the campaign in early April, he criticized his opponent Cuomo for advising the crypto exchange OKX that "broke US law." Whoever wins the November election will become the mayor of NYC and could potentially reshape the city's crypto policy. Billionaires lash out as socialist Zohran Mamdani wins NYC mayoral primary first appeared on TheStreet on Jun 27, 2025 This story was originally reported by TheStreet on Jun 27, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17 hours ago
- Business
- Bloomberg
Mamdani Wants to Meet With Major Business Leaders, Wylde Says
New York City mayoral candidate Zohran Mamdani will meet with members of New York City's business community in July, according to one of the city's most influential power brokers. Kathy Wylde, president of the Partnership for New York City, received a call from Mamdani, a democratic socialist, on Thursday seeking an opportunity to explain his intentions and vision to business leaders, she told Bloomberg. The Partnership for New York City is a coalition of more than 300 companies including banks, media companies, and investment, real estate, and law firms.
