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Despite his socialist proposals, New York City mayoral candidate Zohran Mamdani has several billionaires supporting his candidacy amid his appeal to tax wealthy people to fund a vast social program.
James Houston, a 27-year-old venture capitalist, is part of a group called the Mamdani Millionaire in a Wall Street Journal work released Monday.
“In my eyes, I absolutely have to pay my fair share for those who need it,” Houston told the newspaper. “I don’t think he’s increasing taxes for that. I think he’s doing it to fund a very explicitly good policy.”
Socialist New York victory sparks fierce debate over the feasibility of radical policy agendas
Democratic candidate Zohran Mamdani will speak at a rally at the Hotel & Game Trade Council headquarters in New York on Wednesday, July 2, 2025 (Richard Drew/AP photo)
Voting data showed that about a third of the city’s wealthiest residents supported Mamdani in their primary, the New York Post reported. Many donors on Wall Street and on large law firms remain anonymous.
Other high-paying advocates for Mamdani include Ahmed Haque, founder and CEO of consulting firm Didactic Labs.
“For immigrants coming to this country, these small businesses represent a single pathway of upward mobility they have,” he said.
Bradley Tass, a venture capitalist who ran Michael Bloomberg’s third campaign for the mayor of New York, wrote on LinkedIn that New Yorkers should “do what he can do to make it successful.”
Socialist mayoral candidate Zohran Mamdani is burning under fire due to plans to tax “a richer, white neighborhood”
Democratic mayoral candidate Zohran Mamdani takes the stage in his primary party. Many wealthy New Yorkers support his candidacy. (Heather Khalifa/AP Photo)
In an Instagram post, Keith McNally, owner of French restaurant Balthazar, is called Mamdani “Fantastic.”
“And more, when my wealthy, delusional friend tells me the dangers of a mum tick,” he wrote.
Kathy Wilde, president of the New York City Partnership, a leading business group, told the Journal that he met Mandani in September, long before his candidacy was taken seriously.
“I’m not in favor of the government taking over your business,” Wilde recalled telling him to her.
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She added, “He acknowledges that the housing crisis will only be addressed if private supply increases. So he is not simply talking about social or socialized housing solutions.”
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