NYC Mayor Election Sees Support from Two Billionaires

(MENAFN) Newly elected New York City Mayor Zohran Mamdani, who made history Tuesday as the first Muslim and South Asian to hold the office, received backing from two wealthy individuals during his campaign, according to a report by Forbes.

The article revealed that while at least 26 billionaires invested over $22 million in efforts to block Mamdani’s rise, two affluent supporters — Elizabeth Simons and Tom Preston-Werner — contributed to organizations promoting his candidacy.

Elizabeth Simons, the daughter of the late hedge fund billionaire Jim Simons, donated $250,000 in August to New Yorkers for Lower Costs, the principal independent group supporting Mamdani’s campaign.

A longtime Democratic philanthropist, she leads the Heising-Simons Foundation, which has provided more than $1.3 billion to initiatives focusing on climate change, education, and human rights.

Tom Preston-Werner, a California-based venture capitalist and co-founder of the GitHub coding platform, gave $20,000 to the same organization in April.

Since 2019, his foundation has distributed roughly $28 million, according to tax records cited by Forbes.

Combined, their donations accounted for approximately 10% of New Yorkers for Lower Costs’ fundraising, distinguishing them from other billionaire contributors — such as Michael Bloomberg and Reed Hastings — who financed Mamdani’s opponents.

Despite facing substantial external opposition, Mamdani, a 34-year-old democratic socialist and state assemblyman, triumphed over independent candidate and former Governor Andrew Cuomo, as well as Republican Curtis Sliwa, in Tuesday’s three-way contest.

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