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Billionaire Bill Ackman endorsed NYC Mayor Eric Adams in the upcoming mayoral race and urged former Gov. Andrew Cuomo to drop out to boost Adams’ chances against socialist candidate Zohran Mamdani.
Ackman said he met with both men and believes Cuomo lacks the drive for a tough campaign, while Adams is energized and ready. He praised Adams’ first-term record and authenticity. Adams, elected as a Democrat in 2021, is now running as an Independent; Cuomo is considering an Independent run after losing to Mamdani in the Democratic primary. Republican Curtis Sliwa is also in the race.
“In short, my takeaway is that Adams can win the upcoming election and that the Governor should step aside to maximize Adams’ probability of success,” Ackman wrote on X. “I say this while having a high regard for Andrew Cuomo and his contributions to New York State. But it was abundantly clear in his body language, his subdued energy and his proposals to beat Mamdani, that he is not up for the fight.”
Mamdani’s victory has shaken New York City politics, alarming moderates, conservatives, independents, and even some Democrats who fear his socialist agenda could harm the city’s economy. His platform includes a $30 minimum wage, tax hikes on businesses and the wealthy, city-run grocery stores, and a rent freeze for stabilized tenants.
Cuomo campaign spokesperson Rich Azzopardi responded to Ackman’s endorsement of Eric Adams, stating to Fox Business: “We understand President Trump supports Eric Adams and do not believe socialism is the answer. Most New Yorkers are not Trumpers, and most New Yorkers are not socialists — the majority lies in the middle. We will continue to assess the current situation in the best interest of the people of the City of New York.”
Ackman, who recently pledged to find a challenger to Mamdani, said that adding a new name to the ballot wasn’t possible and a write-in campaign was unlikely to succeed. Given those limitations, he backed Adams, saying the mayor showed far more energy than Cuomo and that he now fully supports Adams’ campaign despite earlier challenges.
In comparison, Mayor Adams is ready to go to battle, guns blazing with enormous energy and clarity on why Mamdani and his socialist/communist (‘We must seize the means of production) and anti-NYPD policies would be catastrophic for NYC,” Ackman wrote in the lengthy post. “Adams is a great campaigner who can lead the grass roots effort needed to defeat Mamdani, and as mayor, he has a great platform to tell his story. Eric’s first term has not been without flaws. In particular, he relied too much on friends of Adams to staff his administration; however, when one looks at his record in totality, he has had a strong first term.”
Ackman said New Yorkers are concerned about crime, affordability, quality of life, and the economy—but credited Mayor Eric Adams with already making progress on these issues. He noted that shootings in early 2025 hit their lowest level in over 30 years, and murders dropped to levels not seen since the 1960s. Ackman also praised Adams for rezoning efforts to boost housing development and for helping the city recover from the pandemic.
Republican candidate Curtis Sliwa quickly responded to Ackman’s post, criticizing Adams’ record and requesting a meeting with Ackman himself.
“You are pouring money into the same rotten machine that handed Mamdani a win. Do you get it?” Sliwa asked. “Adams dropped out because he knew New Yorkers do not trust him – from either party. I am the only candidate working people actually believe in. We are going to fight harder and will continue to fundraise harder than ever before.”
Sliwa told Fox News Digital he believes Adams skipped the Democratic primary due to poor polling and avoided running as a Republican to dodge a rematch. Adams, who beat Sliwa in 2021, claims the Democratic Party left him—not the other way around.
Sliwa wrote: “This is our last chance. We must unite. Adams has NO path to victory…. let’s fight together and stop an extremist that everyone said would never win… yet here we are.”
In summary, in light of the inability to add a new name to the ballot and the low probability of success of a write-in campaign, the only candidates with a credible chance to beat @ZohranKMamdani are Cuomo and Adams.
I met yesterday with @NYCMayor Eric Adams and @andrewcuomo to… https://t.co/RsLHAteskx
— Bill Ackman (@BillAckman) July 3, 2025
