News Summary
Business leaders in New York City are joining forces to form an advisory group in support of mayoral candidate Zohran Mamdani. This initiative, organized by OneNYC, aims to strengthen Mamdani’s campaign ahead of the upcoming election in November. The council includes prominent figures from the business sector to aid Mamdani’s outreach and establish a connection to the business community, as his campaign policies spark discussions among key sectors. The advisory group is set to navigate the challenges posed by Mamdani’s democratic socialist platform in a competitive election landscape.
New York City business leaders are forming an advisory group to support mayoral candidate Zohran Mamdani, who is running in the upcoming election scheduled for November. This initiative aims to bolster Mamdani’s campaign efforts and establish a bridge between his administration and the business community if he wins.
The advisory group will feature prominent members of the business sector, including Andrew Milgram, who leads the investment firm Marblegate Asset Management, and Kevin Ryan, founder of the venture capital firm AlleyCorp. This advisory council is organized by OneNYC, an independent expenditure committee advocating for Mamdani’s candidacy.
Suggestions for forming the advisory group emerged from various sources, notably Kathy Wylde, the CEO of Partnership for New York City. This organization comprises over 300 of New York City’s largest banks, law firms, and media companies. Wylde emphasized the importance of Mamdani’s outreach to the business community for his potential success in governance.
Zohran Mamdani, known as a democratic socialist, recently won the Democratic primary and is campaigning on an ambitious platform that includes policies such as rent freezes, free childcare, and government-run grocery stores. However, his proposals to increase taxes on corporations and wealthy individuals have raised concerns among key sectors, including Wall Street and the real estate industry. Furthermore, Mamdani’s rhetoric regarding Israel has alarmed some business leaders.
In response to these challenges, Yasser Salem, the leader of OneNYC, stated that the advisory council aims to bring together experts from various disciplines to create innovative policy models benefiting Mamdani’s administration. Under campaign finance regulations, this advisory group cannot coordinate directly with Mamdani, maintaining an arm’s length relationship while still providing guidance.
As of now, Mamdani, 33 years old, possesses a significant lead in the polls against three other candidates: Andrew Cuomo, Curtis Sliwa, and Eric Adams. A recent Suffolk University CityView poll revealed that Mamdani is ahead of Cuomo by a striking 20 percentage points. Data from a Marist poll shows that Mamdani currently garners 45% of voter support, while Cuomo follows with only 24%.
Milgram’s firm, Marblegate Asset Management, is the largest owner of medallions for operating yellow cabs in New York City, having acquired them after the market value plummeted due to ride-sharing services. Marblegate also runs a loan-servicing business and a taxi clubhouse for drivers, demonstrating its deep ties to the city’s transportation industry. Meanwhile, AlleyCorp, led by Ryan, has invested in early-stage tech firms, including Business Insider and MongoDB, facilitating interactions between Mamdani and technology executives.
Mamdani’s outreach efforts have included contacting influential banking figures and high-profile attorneys, aiming to broaden his support base. The Partnership for New York City is in the process of organizing a virtual meeting to connect Mamdani with its members, including those he has not met yet.
OneNYC has successfully raised $179,000 for pro-Mamdani efforts, contributing to a total of close to $1 million in commitments for his campaign. Mamdani’s initial candidacy was underestimated during the Democratic primary; however, he managed to secure over 56% of the vote after ranked-choice tabulation.
Current voter concerns in New York City largely revolve around affordability, crime, economic conditions, and housing issues. Mamdani’s proposals include tuition-free education at the City University of New York (CUNY), elimination of public transit fares, and a shift in social service funding away from a reliance on the New York Police Department.
In light of his proposals that could impact their interests, New York’s wealthier individuals are reportedly strategizing against the possibility of Mamdani being elected. As the election approaches, Mamdani’s connections, policies, and growing support from the business community will be critical as he aims to navigate the challenges of the upcoming election and realize his vision for the city.
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Additional Resources
- New York Times: NYC Mayoral Election Polls 2025
- Wikipedia: Zohran Mamdani
- Bloomberg: Mamdani Draws NYC Investors
- Google Search: Zohran Mamdani
- Fox News: Mamdani Holds Commanding Lead
- Encyclopedia Britannica: Zohran Mamdani
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
