Alexi J. Rosenfeld/Getty Images
- Zohran Mamdani beat Andrew Cuomo in the NYC mayor's race.
- Mamdani said he thinks billionaires shouldn't exist and proposed raising taxes by 2% for those earning over $1 million.
- Several billionaires invested heavily in efforts to prevent him from becoming mayor.
Zohran Mamdani is officially the mayor-elect of New York City, despite facing intense opposition from a high-profile group of billionaires who sought to defeat him.
After failing to defeat the Democratic socialist state assemblyman's campaign during the June primary, several big-name billionaires continued to pour money into outside groups aimed at stopping Mamdani, who has said that billionaires shouldn't exist.
Almost all polling showed Mamdani leading his main rival, former Democratic Gov. Andrew Cuomo. GOP candidate Curtis Sliwa also drew some support.
The Associated Press called the race for Mamdani less than an hour after polls closed at 9 p.m. local time.
Groups that have received billionaire contributions include Fix the City and Put NYC First, both pro-Cuomo groups, and Defend NYC, For Our City, and Anyone But Mamdani, all anti-Mamdani groups. Each of the committees has raised millions since the primary.
Despite Mamdani's outreach to the business community, many of the city's business titans remained supportive of Cuomo and spoke out against many of Mamdani's progressive policies.
Some billionaires spoke out against Mamdani but didn't open their wallets. President Donald Trump and Elon Musk, both of whom endorsed Cuomo the day before the election, are not known to have spent any money on the race.
Here are the billionaires who spent more than $100,000 in the mayoral race since the June primary.