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Mamdani draws NYC investors to advise him if he wins mayor race
Fortuneยท 2025-09-23 16:25
Group 1: Advisory Group Formation - An advisory group is being formed by members of New York City's business community to guide mayoral candidate Zohran Mamdani if he wins the election in November [1] - The group includes notable figures such as Andrew Milgram from Marblegate Asset Management and Kevin Ryan from AlleyCorp [1][7] - OneNYC, an independent expenditure committee, is organizing the council with input from various sources, including Partnership for New York City CEO Kathy Wylde [2] Group 2: Mamdani's Campaign and Policies - Mamdani, a democratic socialist, has pledged to freeze rents, provide free child care, and open government-run grocery stores, but his plans to raise taxes on corporations and the wealthy have raised concerns among business leaders [3] - His criticism of Israel has also caused unease within the business community [3] Group 3: Business Community Engagement - Wylde emphasized the importance of Mamdani's outreach to the business community, stating that he will need their support to address the city's challenges if elected [4] - Yasser Salem from OneNYC mentioned the goal of assembling a panel of experts across various sectors to develop policies that reinforce New York City's status as a global business leader [4] Group 4: Campaign Finance and Polling - Under campaign finance rules, the advisory group cannot coordinate directly with Mamdani, who currently holds a double-digit lead in polling against his opponents [5] Group 5: Marblegate Asset Management - Marblegate, led by Milgram, is the largest owner of medallions in New York City, having acquired thousands of them after their value collapsed due to the rise of ride-sharing companies [6] - The firm specializes in distressed and special situations and also operates a loan-servicing business and a taxi clubhouse for drivers [6] Group 6: Tech Community Engagement - Ryan from AlleyCorp has been active in organizing meetings between Mamdani and members of the tech community as part of a strategy to address their concerns [8] - Mamdani has engaged in discussions with prominent business leaders, including Jamie Dimon and Brad Karp, to foster relationships and mitigate concerns about his rhetoric [8] Group 7: Fundraising and Future Strategies - OneNYC has raised $179,000 for pro-Mamdani campaigns and has nearly $1 million in commitments [9] - The advisory council is expected to develop strategies for public-private partnerships and talent recruitment for Mamdani's potential administration [9]