Billionaire Bloomberg Injects $5M into Anti-Mamdani PACs as New York Mayoral Race Heats Up

By Newsmax Wires | Friday, 31 October 2025 03:01 PM EDT

Former New York Mayor Michael Bloomberg allocated $5 million to super PACs opposing democratic socialist candidate Zohran Mamdani this week, positioning the billionaire as the largest individual donor in the ongoing mayoral race. The funds flowed into independent expenditure groups supporting former Gov. Andrew Cuomo’s candidacy, aiming to undermine Mamdani’s bid for city hall.

Bloomberg’s contributions included $1.5 million to the super PAC Fix the City and $3.5 million to the new group For Our City, signaling a surge in outside spending as the general election approaches. In backing Cuomo, Bloomberg highlighted the former governor’s “experience and toughness” as critical for navigating New York’s “immense challenges.”

Mamdani has attracted younger voters and progressive allies with proposals such as a millionaire tax and city-run grocery stores, which have unsettled business and real estate interests. The financial elite’s coordinated effort against Mamdani includes multiple billionaires contributing six- and seven-figure sums, with total outside spending exceeding tens of millions.

Bloomberg previously met Mamdani in September, described as “cordial and substantive,” but now aligns with Cuomo in the race. Campaign-finance watchdogs note that the influx of donor money could make this mayoral election the most expensive in New York’s history.

With early voting underway for next week’s election, Bloomberg’s role as the top individual donor underscores the high stakes of the contest. Mamdani’s supporters view the spending as evidence of his threat to established power, while critics question the influence of wealthy donors in local politics.