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 officially backed Eric Adams’ bid for reelection.
Ackman, who doled out $500,000 to Cuomo’s failed Democratic primary campaign, acknowledged late Wednesday that Adams was the only one who could beat Democratic nominee and hard-left firebrand, Zohran Mamdani, at the polls.
“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 said in a lengthy 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.”
Ackman, who The Post had already reported would throw his support behind the incumbent, said he made the call after meeting with both Adams and Cuomo at length earlier this week.
He noted that he reached his decision “in light of the inability to add a new name to the ballot and the low probability of success of a write-in campaign.”
Despite Adams’ low polling numbers, the billionaire investor heaped praise on Hizzoner — calling him a “great campaigner” who could lead a “grass roots efforts” to take down Mamdani come November.
“Mayor Adams is ready to go to battle, guns blazing with enormous energy and clarity on why Mamdani and his socialist/communist (We must seize the means of production) and anti-NYPD policies would be catastrophic for NYC,” he said.
“Importantly, Adams is also always authentically himself — his smile is real unlike the other guys — and in my experience, the more authentic candidate always wins.”
Ackman briefly referred to “flaws” tied to Adams’ first term, including his hiring of “friends” to staff his administration, but fired off a lengthy record list that he argued proved he should be reelected.
“Importantly, Adams has committed to hire the best and brightest to staff his campaign and administration, and many super talented NYers have already reached out to help. Mamdani and his policies are inspiring many of our most talented citizens with relevant experience to join Eric’s team,” he said.
“New York City residents’ top concerns are public safety, affordability, quality of life and the local economy. In all of these areas, Mayor Adams has had impressive accomplishments.”
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