Wall Street Journal: “Mamdani’s shocking win in the Democratic primary last month has polarized the business community of the U.S.’s most economically critical city. Inside investment banks and during breakfast meetings, the very mention of Mayor Eric Adams’s potential left-wing successor has set off rancor and fear among the business elite, some of whom say they are considering leaving the city altogether.”
“And then there are the Mamdani millionaires. Voting data show a little less than a third of the city’s wealthiest supported Mamdani, and interviews with CEOs, traders, investors, and corporate lawyers pulling for him show they are willing to trade a cut of their one-percenter earnings to fund his more equitable vision of the Big Apple’s future. They believe years of widening income inequality has harmed the city’s ability to attract talent and think a stronger social safety net is needed to reverse the decline.”
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