Billionaire Bill Ackman announced he is now backing Andrew Cuomo in New York City’s mayoral race — in a dramatic about-face after he previously endorsed Mayor Eric Adams, claiming the former New York governor did not have the energy to defeat surging socialist Zohran Mamdani.
“Eric has been a charismatic and high-energy leader who has shown real empathy and provided critical moral and other support to NY communities in their time of need,” the hedge fund titan wrote in a late-night X post Thursday.
“All of that said, Eric should step aside and not run for reelection. Eric’s polls have deteriorated substantially since the primary, and it has become increasingly clear that he does not have a chance to beat @ZohranKMamdani.”
Just two months ago, Ackman had endorsed Adams and called on Cuomo to drop out of the race, claiming his “subdued energy” made it “abundantly clear” that the ex-governor “is not up for the fight” to take down Mamdani.
But Ackman — who donated $500,000 to Cuomo’s failed Democratic primary campaign — has perhaps sensed a change in the wind.
The latest polls have Adams lagging behind in the single digits — down from the mid-teens around the time of the primary, in which he failed to muster any meaningful support as his corruption scandals still loomed large.
Cuomo, meanwhile, is polling in the mid to high 20s while frontrunner Mamdani’s support has stalled in the high 30s to low 40s.
“There is a lot that needs to be improved in New York City. @andrewcuomo is an experienced leader that cares deeply about our city who has the relevant experience and skills necessary to lead and greatly improve NYC,” Ackman posted.
“Andrew had major accomplishments as our governor. He also made some mistakes. I am a huge believer in backing leaders who have learned from their mistakes and have something to prove,” he added.
