News Summary
Support for Andrew Cuomo in New York City’s mayoral race is dwindling as prominent business leaders and companies retract their financial backing. Despite initial significant contributions during the primary, figures like Michael Bloomberg and various real estate executives are distancing themselves from Cuomo ahead of the general election, where he trails challenger Zohran Mamdani. As early voting approaches, some backers maintain support while others emphasize the lack of guaranteed electoral success, shifting focus to voter mobilization efforts.
New York City – Business leaders are retreating from supporting Andrew Cuomo in the race for mayor, as recent polls show him trailing challenger Zohran Mamdani ahead of the general election on November 4. Despite a strong financial backing during the primary, several executives and companies are now distancing themselves from Cuomo’s campaign.
Notable contributors to Cuomo’s preliminary efforts, such as DoorDash, Tishman Speyer, Two Trees Management, Durst Organization, Naftali Group, and Halmar International, have withdrawn their financial support for the general election. High-profile figures, including Marc Holliday of SL Green and Scott Rechler of RXR, along with former Mayor Michael Bloomberg, who reportedly donated $8.3 million in the primary, are also missing from this phase of funding.
Jeffrey Gural, chairman of GFP Real Estate, among those who had previously supported Cuomo, expressed skepticism about the former governor’s current campaign viability. He referenced Cuomo’s slim chances in the upcoming election, casting it as a longshot. Gural had previously donated $25,000 to Cuomo in April and had also supported Mayor Eric Adams’ campaign before he exited.
The enthusiasm gap between supporters of Mamdani and Cuomo has prompted neutrality from some of Cuomo’s earlier backers. Kathryn Wylde, President and CEO of the Partnership for New York City, remarked on the $30 million spent on Cuomo’s primary campaign, drawing attention to its limited impact and the assertion that financial resources do not guarantee electoral success in New York City.
Despite these withdrawals, some executives have chosen to remain supportive of Cuomo. Extell Development contributed $180,000 to the pro-Cuomo PAC Defend NYC, while CEO Gary Barnett personally donated $100,000 to the Fix the City group, indicating a mix of positions among business leaders.
Additionally, Eminence Capital’s Ricky Sandler and real estate investors Marty Burger and Richard Mack collectively contributed $4 million to PACs supporting Cuomo, while financier Bill Ackman spent $1.5 million to oppose Mamdani. In a neutral stance, the Coalition to Restore New York, funded by James Dolan’s Madison Square Garden Entertainment, is running ads that promote realistic mayoral campaigns without explicitly endorsing any candidate.
As the focus shifts toward voter mobilization, pro-Cuomo PACs are consuming less funding on television advertisements compared to the primary campaign. The Fix the City organization has allocated $500,000 specifically for get-out-the-vote efforts through the African American Clergy & Elected Officials. Several PACs are engaging in significant expenditures on materials that promote Cuomo and provide criticism of Mamdani’s qualifications.
In their final debate, Cuomo and Mamdani clashed intensely over personal allegations and past records, underlining the existing political tensions. Recent polls indicate that Mamdani currently holds a double-digit lead over Cuomo and other challengers. The debate featured discussions on various critical issues, such as immigration policy regarding recent ICE raids on street vendors, police leadership, and housing strategies.
Candidates invoked historical controversies toward one another, particularly highlighting past sexual harassment allegations against Cuomo, who faced pointed critiques during the debate. It was noted that Mamdani’s pro-Palestine perspective incited discussions regarding antisemitism within the context of local political dialogue.
While some aspects of their platforms align, the candidates differ sharply on how to address political dynamics with former President Trump. The general election is fast approaching, with early voting set to begin on October 25, marking a critical period in New York City’s electoral landscape as voters prepare to make their choices.
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Additional Resources
- The New York Times
- Google Search: NYC mayor debate 2025
- BBC News
- Encyclopedia Britannica: NYC mayoral election
- CBS News
- Google News: Cuomo Mamdani debate 2025
- ABC7 News
- NBC News
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