Bill Ackman urges Andrew Cuomo to drop out of NYC – Business News
Billionaire hedge fund titan Bill Ackman has urged a “subdued” former Governor Andrew Cuomo to drop out of New York City’s mayoral race — as he formally backed Eric Adams’ bid for reelection.
Ackman, who doled out $500,000 to Cuomo’s failed Democratic major marketing campaign, acknowledged late Wednesday that Adams was the one one who may beat Democratic nominee Zohran Mamdani on the polls.
Bill Ackman speaks on the Milken Institute Global Conference in Beverly Hills on May 6, 2025. AFP through Getty Images
Mayor Eric Adams speaks on the Roosevelt Hotel on July 2, 2025. Stephen Yang
“In short, my takeaway is that Adams can win the upcoming election and that the Governor should step aside to maximize Adams’ probability of success,” he stated in a prolonged X post.
“I say this while having a high regard for Andrew Cuomo and his contributions to New York State. But it was abundantly clear in his body language, his subdued energy and his proposals to beat Mamdani, that he is not up for the fight.”
Andrew Cuomo speaks after dropping the NYC Democratic mayoral major. Matthew McDermott
Ackman stated he made the call after assembly with each Adams and Cuomo at size earlier this week.
