By; Carl Schwartzbaum

In a dramatic and high-stakes political maneuver that could reshape the contours of New York City’s mayoral race, billionaire hedge fund manager Bill Ackman has thrown his considerable influence behind Mayor Eric Adams—while publicly urging former Governor Andrew Cuomo to withdraw from contention. As The New York Post reported on Thursday, Ackman’s announcement comes amid mounting pressure on Cuomo from political insiders and civil rights leaders who warn that a split centrist vote could hand the race to progressive firebrand and Democratic nominee Zohran Mamdani.

Ackman, founder of Pershing Square Capital Management and one of New York’s most prominent political donors, made his position clear in a candid and forceful post on X late Wednesday night. In it, he praised Adams’ energy and authenticity, while characterizing Cuomo’s presence in the race as a liability for the city’s future.

“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,” Ackman wrote, as The New York Post was quick to highlight in its Thursday coverage. “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’s endorsement of Adams follows what The New York Post described as a week of closed-door meetings between the hedge fund titan and both Cuomo and Adams. A longtime political power broker in elite donor circles, Ackman had previously donated $500,000 to Cuomo’s primary effort—an indication of the high regard he once held for the former governor. But in his X post, Ackman noted the practical reality: with the filing deadlines closed and no new names allowed on the ballot, there is now little room for political experimentation.

“In light of the inability to add a new name to the ballot and the low probability of success of a write-in campaign,” Ackman wrote, “the only viable path to defeating Mamdani is a unified centrist front — and that means standing behind Adams.”

The Post’s coverage emphasized the broader stakes: Mamdani, a Democratic socialist and outspoken critic of the NYPD, has rapidly consolidated support among left-wing activists, union organizers, and progressive PACs. His platform, which includes policies such as rent cancellation, public bank creation, and divestment from city police funding, has rattled moderates and business leaders alike.

Ackman did not mince words in his criticism of Mamdani, warning that his platform poses a threat to the city’s economic and civic fabric.

“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,” Ackman 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.”

While Ackman offered a full-throated endorsement, he did not overlook the mayor’s flaws. In what The New York Post termed a “tempered yet decisive nod,” Ackman acknowledged criticism over Adams’ early term appointments, particularly the hiring of political allies and personal associates into senior City Hall roles.

In summary, in light of the inability to add a new name to the ballot and the low probability of success of a write-in campaign, the only candidates with a credible chance to beat @ZohranKMamdani are Cuomo and Adams.

I met yesterday with @NYCMayor Eric Adams and @andrewcuomo to… https://t.co/RsLHAteskx

— Bill Ackman (@BillAckman) July 3, 2025

Still, Ackman argued that the mayor had turned a corner, pledging to bring on what he called “the best and brightest” to lead a revitalized administration in a second term. “Importantly, Adams has committed to hire the best and brightest to staff his campaign and administration, and many super talented New Yorkers have already reached out to help,” he wrote.

In a city grappling with persistent public safety concerns, skyrocketing housing costs, and post-pandemic economic instability, Ackman said Adams was best positioned to meet the moment. “New York City residents’ top concerns are public safety, affordability, quality of life, and the local economy,” he noted. “In all of these areas, Mayor Adams has had impressive accomplishments.”

As the report in The New York Post pointed out in its editorial analysis, Ackman’s support not only brings significant fundraising potential to Adams but also signals a broader shift among Wall Street Democrats who once flirted with Cuomo’s return but are now rallying around a single candidate to stop Mamdani’s ascendancy.

Ackman’s call is not the only one urging Cuomo to step aside. Civil rights leader Rev. Al Sharpton also weighed in this week, publicly advising Cuomo to exit the race in the city’s best interest. Speaking to The New York Post, Sharpton revealed that the former governor had told him during a private conversation that he was still reviewing polling data and had not made a final decision.

“He expressed that he has received many calls mostly asking him to stay in the race,” Sharpton said. “Governor Cuomo said he thought the candidate with the best chance to win should run and would make his final decision in the coming days, after looking at new data and polling, which he said he would share with me.”

Yet Sharpton, like Ackman, concluded that a two-way race between Adams and Mamdani remains the optimal configuration. “My position currently stands that the best option for New Yorkers is a one-on-one race between Mayor Adams and Assembly Member Mamdani.”

Cuomo, once a dominant figure in state politics, has so far remained characteristically enigmatic, avoiding formal campaign events while testing the waters through media appearances and private donor calls. But as The New York Post report has noted, his muted energy and lack of a clearly defined path to victory have led many political veterans to conclude that his time has passed.

The stakes of this year’s mayoral election extend far beyond personal ambitions. As The New York Post editorial board recently warned, New York stands at a political crossroads: between a centrist, pragmatic leadership approach embodied by Adams and a radical overhaul of city government championed by Mamdani.

Ackman’s endorsement and call for consolidation is a decisive moment in that battle—one that could determine whether New York maintains its current trajectory or veers sharply left in November.

In Ackman’s words: “This is not just another mayoral election. It’s a fight for the soul and future of the city. Eric Adams is up for that fight. Andrew Cuomo is not.”

The city, and the nation, will soon see whether Cuomo agrees.