By Newsmax Wires | Friday, 31 October 2025 03:11 PM EDT
Former New York Mayor Michael Bloomberg pledged $5 million to super PACs opposing democratic socialist candidate Zohran Mamdani in the ongoing mayoral race, marking him as the largest individual donor in the cycle. The funds, directed toward groups backing former Gov. Andrew Cuomo’s independent bid, aimed to counter Mamdani’s progressive platform.
Bloomberg’s contributions included $1.5 million to the super PAC Fix the City and $3.5 million to the newly established For Our City, signaling a surge in outside spending as the general election nears. His endorsement of Cuomo emphasized the former governor’s “experience and toughness” amid claims the city faces “immense challenges.”
Mamdani has drawn support from younger voters and progressive groups by advocating for policies like a millionaire tax and city-run grocery stores, which have unsettled business and real estate interests. The influx of billionaire donations into anti-Mamdani efforts has raised concerns about the role of wealth in local politics, with watchdogs noting the race could become the most expensive in New York’s history.
Despite a September meeting with Mamdani described as “cordial and substantive,” Bloomberg now aligns with Cuomo. Early voting has begun for next week’s election, with the donor class intensifying efforts to sway the outcome. For Mamdani’s supporters, the spending spree underscores his threat to entrenched power but highlights growing disparities in political influence.
Bloomberg’s role as the cycle’s top donor reflects the high stakes of a race increasingly defined by financial clout and ideological clashes.
