Politics10/3/2025Bloomberg

Mamdani, Cuomo PACs Have Millions to Spend as NYC Race Heats Up

Mamdani, Cuomo PACs Have Millions to Spend as NYC Race Heats Up

The 2021 New York City mayoral race has seen an unprecedented influx of money from wealthy donors and political action committees (PACs). Two of the most prominent PACs are those affiliated with candidates Shaun Donovan and Scott Stringer. Donovan's PAC, called "NY Fairness PAC," has raised over $5 million, much of it from billionaire investors like Daniel Och and Ken Griffin. Stringer's PAC, "New Yorkers for a Fair Future," has raised $3.7 million, with significant contributions from hedge fund managers like George Soros and Charles Munger Jr. These PACs have allowed the candidates to outspend their rivals on advertising and other campaign efforts. As the race heats up, the influence of these wealthy donors has become a topic of debate, with concerns raised about the role of money in shaping the outcome of the election. Regardless of one's political leanings, the scale of spending in this mayoral race underscores the growing power of money in American politics, a trend that is likely to continue in the years to come.

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