Zohran Mamdani, a 34-year-old Democratic Socialist and state assemblymember from Queens, is now the mayor-elect of New York City after defeating former Gov. Andrew Cuomo and Republican Curtis Sliwa in one of the city’s most closely watched races.
Mamdani’s victory makes history: he will be New York’s first Muslim mayor, the first of South Asian descent and the first born in Africa, and the youngest to take office in more than a century.
But beyond breaking barriers, his campaign defied extraordinary odds, including a coordinated effort by some of America’s richest individuals to block his rise.
A Wave of Billionaire Spending
In the months following the June primary, a lineup of billionaires poured millions into super PACs and advocacy groups aiming to stop Mamdani.
According to Business Insider, major donors included Michael Bloomberg, Bill Ackman, Joe Gebbia, Ronald Lauder, and Alice Walton, among others, who funneled money into pro-Cuomo and anti-Mamdani groups like Put NYC First, Defend NYC, For Our City, and Anyone But Mamdani.
Former Mayor Michael Bloomberg led the way, donating about $5 million since the primary and more than $8 million earlier in the year.
Bloomberg publicly reaffirmed his support for Cuomo in late October, saying Cuomo “has the experience and toughness to stand up for New Yorkers and get things done.”
Joe Gebbia, Airbnb cofounder and current Chief Design Officer in the Trump administration, spent around $3 million backing groups opposed to Mamdani.
Hedge fund manager Bill Ackman gave $1.25 million after the primary and used social media to urge Sliwa to drop out so Cuomo could consolidate support.
Ronald and William Lauder contributed a combined $1.75 million to Fix the City, while casino mogul Steve Wynn, media executive Barry Diller, and philanthropist Alice Walton each donated six-figure sums.
Despite the financial onslaught, Mamdani maintained a steady polling lead.
“Billionaires like Bill Ackman and Ronald Lauder have poured millions of dollars into this race because they say that we pose an existential threat,” he told supporters 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.”
A Grassroots Upset
Mamdani’s campaign message centered on economic fairness and public investment.
He called for a city-run grocery chain to combat food deserts, free city bus service, a rent freeze for stabilized apartments, and a two percent tax increase on incomes over $1 million.
“I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality,” he said during the campaign, adding that extreme wealth concentration was incompatible with a fair society.
His grassroots strategy paid off. Volunteers knocked on doors across all five boroughs, and his campaign leaned heavily on social media and small-dollar donations.
Many voters, particularly younger residents, saw him as a voice for the working class and an antidote to establishment politics.
The Associated Press projected Mamdani as the winner less than an hour after polls closed at 9 p.m. local time.
Cuomo, who had hoped for a political comeback after resigning as governor amid scandal, struggled to energize voters despite major financial backing.
Sliwa, the Republican candidate, drew some attention but failed to gain meaningful traction in the overwhelmingly Democratic city.
National Ripples
Mamdani’s win is getting attention far beyond New York. It shows how younger, progressive voices are gaining ground in the Democratic Party.
And it’s a clear sign to big political donors: throwing huge sums of money into a race doesn’t always result in a win when voters are more concerned about rent, groceries, and fairness.
Polls before the election showed that six in ten New Yorkers viewed cost of living as the city’s most pressing issue, and about seven in ten said housing costs were a “major problem.”
Mamdani’s focus on these pain points, combined with his authentic grassroots style, resonated widely.
President Donald Trump and Elon Musk both endorsed Cuomo in the final days of the race, but it’s not known whether either contributed financially.
Their endorsements, alongside the wave of billionaire spending, highlighted how high the stakes were for the city’s elite, many of whom feared Mamdani’s plans for higher taxes and stricter housing regulation.
The Road Ahead
When Mamdani takes office on Jan. 1, 2026, he’ll inherit a city facing serious challenges, rising housing costs, transit strain, and a widening wealth gap.
Implementing his ambitious agenda will require working with both the City Council and state leaders in Albany, many of whom have mixed views about his platform.
Still, Mamdani has made it clear that compromise won’t mean retreat. In his victory speech, he said his administration would fight for a city that belongs to all of us, not just the wealthy few.
Political analysts say his win shows how dramatically New York’s political climate has changed.
Once dominated by big donors and old-guard Democrats, the city now appears ready to embrace bold progressive leadership.
A Turning Point
For Mamdani’s supporters, the result wasn’t just an election, it was a statement.
A young immigrant son of Ugandan Indian parents, defeating some of the wealthiest figures in America, has become a defining story of the 2025 political cycle.
To his critics, Mamdani represents a risky shift toward policies they believe could drive businesses and high-income earners away.
But to his backers, he embodies a return to people-centered politics.
While the opposition relied on money and influence, Mamdani’s campaign drew strength from volunteers, small donors, and working-class voters who showed up in force.
IMAGE CREDIT: ”Zohran Mamdani” by Bryan Berlin, via Wikimedia Commons. Licensed under CC BY-SA 4.0. Image adjusted for layout.