Few people expected billionaire hedge fund manager Bill Ackman to publicly congratulate Zohran Mamdani — the man he spent millions trying to defeat.
Yet, after Mamdani’s stunning victory in the New York City mayoral race, Ackman took a surprisingly humble tone, offering an olive branch instead of another round of criticism.
From Fierce Critic to Unexpected Well-Wisher
Ackman, who runs Pershing Square Capital Management, has long been a vocal critic of Mamdani’s leftist agenda and anti-Israel stance.
Throughout the election campaign, he poured over $2 million into efforts to derail Mamdani’s run, donating heavily to groups opposing the Democratic Socialist.
But when the results rolled in and Mamdani’s victory became undeniable, Ackman chose diplomacy over defiance.
“@ZohranKMamdani, congrats on the win,” Ackman posted on X.
“Now you have a big responsibility. If I can help NYC, just let me know what I can do.”
A Last-Minute Push That Fell Flat
Just hours before polls closed, Ackman had been making passionate pleas online for voters to back former Governor Andrew Cuomo instead.
His social media feed was filled with posts attacking Mamdani’s record — including his calls to defund the NYPD and his pro-Palestine remarks.
Despite the aggressive campaigning, New Yorkers voted decisively in Mamdani’s favor, cementing his position as the city’s first Muslim mayor.
Tensions Over Israel and Antisemitism
Ackman’s opposition wasn’t just political — it was deeply personal.
Since the Hamas terror attack on October 7, 2023, which killed over 1,200 people in Israel, Ackman has been outspoken in defending Jewish communities.
Mamdani’s sharp criticism of Israel and controversial statements — including a vow to arrest Israeli Prime Minister Benjamin Netanyahu if he ever visits New York — only fueled fears among Jewish residents.
A Daily Mail poll even revealed that many of Mamdani’s own supporters worry his leadership could worsen antisemitism in the city.
Mamdani’s Sharp Wit and Confident Stance
Mamdani didn’t shy away from addressing his billionaire critic either.
In a podcast interview, he joked that Ackman spent more trying to defeat him than Mamdani would ever tax him.
“He’s spending more money against me than I would even tax him.
Every day it’s like a million dollars, a million dollars. I don’t even want that much,” he said with a laugh.
Ackman Explains His Change in Tone
After his congratulatory post sparked surprise, Ackman later clarified his intentions.
“Mamdani won a decisive election. He’s going to be our mayor for the next four years,” he said.
“While I did not support Mamdani and have concerns about his policies, I care deeply about New York City.
I want to do everything I can to help, regardless of who the mayor is.”
The billionaire emphasized that his loyalty lies with New York, the city his family has called home since emigrating in the 1890s.
A New Era of Policies and Polarization
Mamdani, at just 34, is ushering in a new era of progressive politics.
His campaign promises include freezing rent, offering free bus fares, and imposing higher taxes on wealthy residents.
While these ideas energized his base, they also prompted concern among many New Yorkers — with polls suggesting over 2 million residents would consider leaving the city if he won.
Still, Mamdani remained unapologetic in his victory speech: “I am Muslim.
I am a democratic socialist. And most damning of all, I refuse to apologize for any of this.”
A Message to Trump and His Critics
In a fiery moment that made headlines, Mamdani addressed President Donald Trump directly, saying, “Donald Trump, since I know you’re watching, I have four words for you: turn the volume up!”
Trump, for his part, didn’t hold back during the campaign.
He branded Mamdani a “communist” and warned that a Mamdani-led New York would be a “complete and total economic and social disaster.”
The Populist Path to Power
Once a relatively unknown state assemblymember, Mamdani’s meteoric rise came from his populist platform centered on affordability and equity.
His campaign called for city-owned grocery stores, affordable public transit, and stronger rent protections — messages that resonated deeply with working-class voters feeling squeezed by New York’s cost of living.
What Lies Ahead for New York City
Mamdani’s victory signals a sharp political shift for America’s largest city.
As Ackman and other business leaders brace for a potentially turbulent four years, the new mayor is already making it clear he won’t compromise his ideals.
Whether his bold policies can coexist with the financial realities of New York remains to be seen — but one thing is certain: the city’s next chapter will be anything but quiet.