Zohran Mamdani Super PAC bankrolled by billionaire heiress despite socialist's wish for billionaires to not exist

A pro-Zohran Mamdani super PAC has gotten a hefty donation from a billionaire heiress, despite the socialist candidate’s previous with stating that he did not want billionaires to exist. This comes as Mamdani has raised more than $1 million in direct campaign funds between July 12 and August 18, outpacing his rivals Andrew Cuomo and Erica Adams, according to data from the city’s Campaign Finance Board.

The pro-Mamdani PAC, New Yorkers for Lower Costs PAC received a contribution of $250,000 from philanthropist Elizabeth Simons, daughter of billionaire hedge fund manager Jamie Simons, according to the New York Post. Jamie Simons is the founder of Renaissance Technologies and has built a $31.4 billion fortune.

The donation comes despite Mamdani’s outspoken stance against the existence of billionaires.

"I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality, and ultimately, what we need more of is equality across our city and across our state and across our country," Mamdani said in an interview on NBC News in June.

In terms of direct campaign donations, Mamdani’s campaign reported an average donation of $121, with contributions split between in-state and out-of-state donors. His haul exceeded the combined totals of his two main opponents, with Cuomo raising $541,301 and Adams bringing in $425,181 during the same period.

Cuomo, the former New York governor running as an independent, recently blasted Mamdani for “hypocrisy” over his funding sources and lifestyle. “You are what you pretend to fight,” Cuomo said on X, pointing to Mamdani’s PAC receiving billionaire support, his residence in affordable housing despite being financially secure enough to live elsewhere, and his lavish wedding in Uganda that included armed security despite his past calls to defund the police and ban guns.

Mamdani previously criticized Cuomo for his own billionaire donors, saying in June, “We live in the most expensive city in the United States. Cuomo’s billionaire donors want it that way. But we have an agenda to make life affordable.”

Mamdani’s fundraising success reflects his continued momentum in the mayoral race. A Siena College poll from earlier this month showed him in the lead by nearly 20 points.