Hedge fund billionaire Bill Ackman has dramatically reversed course in New York City’s mayoral race, throwing his support behind former governor Andrew Cuomo after months of backing incumbent Mayor Eric Adams.
In a late-night post on X Thursday, Ackman declared that Adams should step aside, citing dismal polling numbers and a collapsing path to reelection.
“Eric has been a charismatic and high-energy leader who has shown real empathy and provided critical moral and other support to NY communities in their time of need,” Ackman wrote. “All of that said, Eric should step aside and not run for reelection. Eric’s polls have deteriorated substantially since the primary, and it has become increasingly clear that he does not have a chance to beat @ZohranKMamdani.”
Just two months ago, Ackman was praising Adams as the party’s best hope and urging Cuomo to exit, blasting the ex-governor’s “subdued energy” and arguing he was “not up for the fight.” Ackman also poured $500,000 into Cuomo’s ill-fated primary bid — an investment that looked wasted after Cuomo’s sluggish campaign failed to break through.
But with Adams languishing in the single digits in the latest polls — down from the mid-teens before his corruption scandals deepened — Ackman appears to have recalculated. Cuomo is now polling in the mid-to-high 20s, while Mamdani, the progressive Queens assemblyman, has plateaued in the high 30s to low 40s.
Once buoyed by his tough-on-crime message, Adams has struggled to shake federal corruption investigations and a chaotic administration. Cuomo, despite his own bruising scandals, has re-emerged as the establishment’s last credible alternative to Mamdani, who has energized a coalition of progressives, tenants’ groups, and left-wing activists.
“There is a lot that needs to be improved in New York City. @andrewcuomo is an experienced leader that cares deeply about our city who has the relevant experience and skills necessary to lead and greatly improve NYC,” Ackman wrote in his endorsement.
“Andrew had major accomplishments as our governor. He also made some mistakes. I am a huge believer in backing leaders who have learned from their mistakes and have something to prove.”
(YWN World Headquarters – NYC)
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One Response
What a shame. Cuomo is a Mamdani wannabe. He legalized Marijuana and same gender marriage. He pushed cashless bail, which the liberal NYC judges took even further, he killed thousands of seniors through his Covid policy and vilified our community regarding Covid as well. He was well known as an arrogant and vindictive person amongst his fellow politicians. Remember his childish public feud with Bill deBlasio?