As the mayoral race in New York City intensifies, socialist candidate Zohran Mamdani has found unexpected allies in the city’s most affluent residents. This surprising coalition has drawn attention across the political and economic landscape, with several millionaires endorsing Mamdani’s campaign due to his proposal to tax the wealthy to fund expansive social programs. The support includes prominent figures like venture capitalist James Hueston, who is part of a group called the Mamdani Millionaires, and CEO Ahmed Haque of consulting firm Didactic Labs.
Hueston, a 27-year-old venture capitalist, has publicly stated his belief that the wealthy should pay their fair share to support social programs. His comments, cited in a Wall Street Journal article, highlight his support for Mamdani’s policies, framing them as necessary for funding explicit good policies. Other notable supporters include Bradley Tusk, who ran Michael Bloomberg’s third campaign for mayor of New York City, and Keith McNally, the owner of the French restaurant Balthazar. McNally’s Instagram post praised Mamdani as ‘fantastic,’ even as some of his affluent friends expressed concerns regarding Mamdani’s ‘dangerous’ nature.
Despite the support from the wealthy, some prominent business leaders remain cautious. Kathy Wylde, president of the Partnership for New York City, a major business group, met with Mamdani in September, before his candidacy gained significant traction. She noted that while she does not favor government taking over private businesses, she acknowledges that addressing the housing crisis requires an increase in private supply. This nuanced position suggests that while not fully endorsing the socialist policies, some business leaders are recognizing the necessity of his approach to tackle pressing urban issues.