New York City’s leading CEOs who employ thousands at some of the world’s biggest companies, such as JPMorgan and Pfizer, didn’t expect to be sweating it out at a meeting with mayoral socialist Democratic candidate Zohran Mamdami in the middle of July.
“Most of the business leaders knew Cuomo from his many years as governor and attorney general and frankly expected him to win the Democratic primary. So, they were both surprised and very curious about the primary winner”, Kathryn Wylde, CEO Partnership for New York City, told FOX Business.
As a result, the organization, which drives over $236 billion in economic output, will host two “informal and conversational” style meetings on Tuesday and Wednesday, with 150 attendees expected at both, to discuss policy issues with Mamdani.
While business leaders are on edge about the leading candidate, they are encouraged he is proactively engaging with executives, unlike the last socialist mayor, former Mayor Bill DeBlasio, who did no outreach to this group, according to Wylde. She notes that Mayor Eric Adams, who will face off with Mamdani, has been “terrific.”
NYC REAL ESTATE MOGULS PUMP UP ADAMS AGAINST MAMDANI
That said, NYC business leaders are concerned about three major issues with Mamdani, first his inexperience at just 33-years old. The other two are weightier. “On the policy front, the fear is this is a socialist coming into office. It is not clear to them, I mean, the fear is, is this going to be a war against the business community or can we have a solid working relationship?” she explained, adding his position on Israel is a major concern. “The sensitivities in the Jewish community to his clarifying his position on Israel, how he’s going to hopefully bridge to the Jewish community, to reassure the Jewish community” she added.
WEALTHY NEW YORKERS MAY FLEE NYC FOR FLA IF MAMDANI WINS
FOX Business’ inquiries to Mandani were not immediately returned.
On Monday, a new digital Times Square billboard is set to debut, the New York Post reported. “Ready to Flee New York” it reads with Mamdani’s picture, split against “Move to Ohio” featuring Vivek Ramaswamy, who is running for Governor of Ohio.
During a conference in Ireland last week, JPMorgan CEO Jamie Dimon didn’t sugarcoat his view of Mamdami.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 286.86 | -1.33 | -0.46% |
“He’s more of a Marxist than a socialist, and now you see these Democrats falling all over themselves saying, ‘Well, he’s pointing out some real problems, affordable housing and grocery prices,'” Dimon said at an event in Ireland on Thursday.
Mamdani, Dimon argued, pushes “the same ideological mush that means nothing in the real world.”
The bank is currently finalizing its $3-billion, 60-story Midtown Manhattan state-of-the-art headquarters, which is expected to house up to 14,000 employees. It also boasts an Irish pub and other perks, FOX Business reported. Dimon has been a staunch proponent of his employees returning to the office five days a week.
More business leaders are expected to step up. “New Yorkers for a Better Future Mayor 25” was created, working to raise $20 million to fund an anti-Mamdani campaign, according to The Wall Street Journal.
ACKMAN BACKS ADAMS, RAISES WARNING ON MAMDANI
Billionaire hedge fund manager Bill Ackman told Mamdani, in a lengthy X post, his winning office will be the “death knell” to NYC’s economy.
Excerpts of Bill Ackman’s X Post
“I am opposed to you being mayor because your policies will be extremely damaging to NYC and all of its residents, in particular the most vulnerable New Yorkers. Your anti-NYPD defund-the-police historical advocacy will lead to an increase in crime, particularly in the poorest neighborhoods in the City. The NYPD’s confidence that the mayor has their back is critical for successful policing of crime….
“A mayor committed to socialism will be the death-knell for NYC’s economy. Construction will come to a halt. Businesses will relocate or move their expansions to other cities. Our largest tax payers will leave, decimating the tax base. You say you don’t want billionaires and other wealthy NYC residents. You will get what you ask for, and the city will suffer the deficits that come from their exodus. And yes, your unwillingness to condemn calls for a global intifada speaks volumes about you how will manage and support the diverse ethnic groups that make up our great multicultural city…
“Meanwhile you fail to condemn calls for the murder of Jews around the world. How would you feel if the future mayor of NYC failed to condemn calls for the murder of your people? What if he failed to condemn calls for the murder of the black community, Catholics or Hindus? Is that the mayor you would want or that NYC deserves?”
BILLIONAIRE THREATENS TO CLOSE HIS NYC GROCERY STORE IF SOCIALIST WINS
Billionaire John Catsimatidis, owner of the Red Apple Group that runs NYC supermarkets Gristedes and D’Agostino as well as real estate investments, has threatened to close the shops if Mamdani gets in.
New York City’s economy represents 9% of the U.S., according to the State of the Economy report, NYCEDC, which notes the city has $2 trillion in gross metropolitan product.
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