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The list of billionaires who spent big in a last-ditch effort to keep Zohran Mamdani from becoming NYC mayor

Zohran Mamdani on Election Day in NYC.
Zohran Mamdani has maintained a healthy lead over Andrew Cuomo in polls leading up to the NYC mayoral election. Alexi J. Rosenfeld/Getty Images
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Zohran Mamdani is officially the mayor-elect of New York City, despite facing intense opposition from a high-profile group of billionaires who sought to defeat him.

After failing to defeat the Democratic socialist state assemblyman's campaign during the June primary, several big-name billionaires continued to pour money into outside groups aimed at stopping Mamdani, who has said that billionaires shouldn't exist.

Almost all polling showed Mamdani leading his main rival, former Democratic Gov. Andrew Cuomo. GOP candidate Curtis Sliwa also drew some support.

The Associated Press called the race for Mamdani less than an hour after polls closed at 9 p.m. local time.

Groups that have received billionaire contributions include Fix the City and Put NYC First, both pro-Cuomo groups, and Defend NYC, For Our City, and Anyone But Mamdani, all anti-Mamdani groups. Each of the committees has raised millions since the primary.

Despite Mamdani's outreach to the business community, many of the city's business titans remained supportive of Cuomo and spoke out against many of Mamdani's progressive policies.

Some billionaires spoke out against Mamdani but didn't open their wallets. President Donald Trump and Elon Musk, both of whom endorsed Cuomo the day before the election, are not known to have spent any money on the race.

Here are the billionaires who spent more than $100,000 in the mayoral race since the June primary.

Mike Bloomberg

Mike Bloomberg
Bloomberg, a former mayor himself, has poured $5 million into the race since the June primary. Dimitrios Kambouris/Getty Images for Perelman Performing Arts Center

Michael Bloomberg, the former three-term mayor of New York City and the billionaire owner of Bloomberg LP, donated $5 million to pro-Cuomo and anti-Mamdani groups since June, making him the largest single donor of the general election.

That includes a $1.5 million contribution to Fix the City and a $3.5 million contribution to For Our City.

And that's on top of the $8.3 million he gave to the group before the primary.

Bloomberg's new contributions came as he publicly reaffirmed his support for Cuomo on October 29, saying he "has the experience and toughness to stand up for New Yorkers and get things done."

The contributions are also notable given that the former mayor met with Mamdani in September, with a Bloomberg advisor calling the meeting "cordial" and "substantive."

Bloomberg is worth $109.4 billion, according to Forbes.

Joe Gebbia

Joe Gebbia
Joe Gebbia, a cofounder of Airbnb, has poured $2 million into the race. Tayfun Coskun/Anadolu via Getty Images

Joe Gebbia, a cofounder of Airbnb, spent a total of $3 million on the race, donating $1 million apiece to Fix the City, Defend NYC, and Put NYC First.

Gebbia serves as the Chief Design Officer of the United States under President Donald Trump.

He repeatedly signaled his opposition to Mamdani on X, writing in one recent post that Sliwa could be a "hero" by dropping out of the race and giving Cuomo an easier shot at beating Mamdani.

Gebbia is worth $7.7 billion, according to Forbes.

Bill Ackman

Bill Ackman
Bill Ackman, a billionaire hedge fund manager, has poured $1.25 million into the race since the June primary. Patrick T. Fallon / AFP via Getty Images

Bill Ackman, the CEO of Pershing Square Capital Management, poured $1.25 million into the race since June, giving $1 million to Defend NYC and $250,000 to Fix the City. That's on top of the $500,000 he gave to Fix the City before the primary.

Ackman has been a vocal opponent of Mamdani, and like Gebbia, has publicly encouraged Sliwa to drop out of the race.

Mamdani singled out Ackman on the stump, naming him among the billionaires who oppose his candidacy. He has also mocked the hedge fund manager for his "1000-word tweets."

Ackman is worth $9.3 billion, according to Forbes.

Ronald Lauder

Ronald Lauder
Ronald Lauder, President of the World Jewish Congress, has spent over $1 million in the race. Michael Kappeler/picture alliance via Getty Images

Ronald Lauder and his wife, Jo Carole, gave $1.25 million to Fix the City in recent months.

Lauder, a Republican and the president of the World Jewish Congress, has long been a financial supporter of Cuomo.

Mamdani has publicly named Lauder, along with Ackman, when decrying the influence of billionaires.

"Billionaires like Bill Ackman and Ronald Lauder have poured millions of dollars into this race because they say that we pose an existential threat," Mamdani said at an October rally. "And I am here to admit something. They are right. We are an existential threat to billionaires who think their money can buy our democracy."

Lauder is worth $4.9 billion, according to Forbes.

William Lauder

William Lauder
William Lauder, the chairman of the board of the Estée Lauder Companies, has poured $500,000 into the race since the June primary. Ian Langsdon / AFP via Getty Images

William Lauder, the chairman of the board of the Estée Lauder Companies and the nephew of Ronald Lauder, has given $500,000 to Fix the City since June.

That's in addition to the $500,000 he had already given to the group before the primary.

Lauder is worth $1.6 billion, according to Forbes.

Steve Wynn

Steve Wynn
Real estate and casino magnate Steve Wynn has poured $500,000 into the race. AP Photo/Charles Krupa

Steve Wynn, a casino mogul and real estate developer, gave $500,000 to Fix the City in October.

Wynn is a longtime GOP mega-donor and the onetime financial chair of the Republican National Committee.

He is worth $3.9 billion, according to Forbes.

Daniel Loeb

Daniel Loeb
Hedge fund manager Daniel Loeb has poured $350,000 into the race since the June primary. Araya Doheny/Variety via Getty Images

Daniel Loeb, the founder and CEO of New York-based firm Third Point, has given a total of $350,000 since the primary — $100,000 to Defend NYC and $250,000 to Fix the City.

Loeb also gave $250,000 to Fix the City before the primary.

He is worth $3.8 billion, according to Forbes.

Barry Diller

Barry Diller
Media mogul Barry Diller has poured $250,000 into the race since the primary. Bruce Glikas/FilmMagic

Barry Diller, a media mogul who's the chairman of Expedia Group and IAC, donated $250,000 to Fix the City on October 22.

This is on top of a $250,000 donation he made to the pro-Cuomo group before the June primary.

Diller is worth $5 billion, according to Forbes.

Marcella Guarino Hymowitz

Marcella Guarino Hymowitz
Marcella Guarino Hymowitz, the wife of investor Gregg Hymowitz, has supported Cuomo throughout the campaign. Jared Siskin/Patrick McMullan via Getty Images

Marcella Guarino Hymowitz gave $250,000 to Put NYC First in October. Prior to the primary, she had donated $150,000 to Fix the City.

Guarino Hymowitz's husband, asset manager Gregg Hymowitz, is worth $2 billion, per Forbes. In September, The New York Times reported that he was among the organizers of a meeting of business leaders focused on defeating Mamdani.

Richard Kurtz

Richard Kurtz, a real estate mogul who lives in Palm Beach, Florida, donated $100,000 to Anyone But Mamdani.

The CEO of Kamson Corporation, which owns properties nationwide, is worth $1 billion, according to Forbes.

Laurie Tisch

Laurie Tisch
Philanthropist Laurie Tisch has poured $100,000 into the race since the June primary. Craig Barritt/Getty Images for Children's Museum of Manhattan

Laurie Tisch, a billionaire philanthropist, gave $100,000 to Fix the City in October. She had already given $50,000 to the group prior to the primary.

She is a member of the Tisch family, whose wealth comes from the Loews Corporation. Other members of the Tisch family have given to the group, totaling over $1.3 million for the year.

Laurie Tisch is worth $1.6 billion, according to Forbes. The family as a whole is worth an estimated $10.1 billion.

Alice Walton

Alice Walton
Philanthropist Alice Walton has poured $100,000 into the race since the June primary. Stefanie Keenan/Getty Images for The J. Paul Getty Trust

Alice Walton, a billionaire philanthropist and a member of the family that founded Walmart, gave $100,000 to Fix the City in August. She had previously given $100,000 to the same group in April, before the primary.

Walton is worth $111 billion, according to Forbes.

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Bryan Metzger was a senior politics reporter covering Congress, money in politics, and their intersection with business and tech. He worked at Business Insider from July 2021 to May 2026.Previously, he covered money in politics and elections in his home state for New Mexico in Depth. He's also written for POLITICO Magazine.Featured works:
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Madeline Berg
Madeline Berg is a correspondent at Business Insider, where she covers the wealthy, famous, and powerful. Her stories include analyses of some of the most well known billionaires, from Mark Zuckerberg to MrBeast, investigations into celebrity brands, and deep dives into figures like Jeffrey Epstein and Leon Black.Previously, she was at Forbes. Her work included cover stories on Tyler Perry and Shonda Rhimes, investigations into Kylie Jenner's beauty brand, and deep dives into Britney Spears' fortune. Madeline has also written for The New York Times, The New York Observer, and Racked. She regularly appears on panels, on television, and in documentaries discussing the entertainment industry and general business news.Contact her via email at mberg@insider.com or by phone, Signal, or WhatsApp at 914-420-4721. https://www.bjinnox.com/secure-news-tips.
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Katherine (Tangalakis-Lippert) Ortiz
Katherine (Tangalakis-Lippert) Ortiz was a senior reporter on Business Insider's West Coast team. For four and a half years, her coverage spanned topics and industries, including chasing breaking news — such as the assassination attempts against President Donald Trump, and major legal actions against companies like Google, Anthropic, and OpenAI — as well as producing scoops about the Supreme Court, Starbucks, and many more. Katherine has worked on award-nominated projects and has appeared on Good Morning America, NBC, CNN, and other outlets to discuss her reporting.Prior to joining Business Insider, she covered retail, hospitality, and nonprofits at the San Fernando Valley Business Journal and received a master's degree in investigative reporting from the University of Southern California.Reach outDo you have feedback or a story tip? Contact Katherine on Signal at byktl.50, or follow her on Twitter and Instagram @scrawlgirl.Some of the highlights from her time at Business Insider include: Starbucks set up a new office. It's a 5-minute drive from the CEO's California home.Inside Starbucks' crackdown on cup notesEndless Shrimp was Red Lobster's rock bottom. Now it's clawing back.Clarence Thomas raised him 'as a son.' Now he's facing 25-plus years on weapons and drug charges.Call her Ivanka Kushner'Maybe I'll just resign:' Federal workers react to DOGE productivity emailSpaceX launches cause late-night booms that rattle windows, set off car alarms, and may damage property. Locals are pushing back.The US-China tech race is moving from chips to the raw materials they're made of