Andrew Cuomo continues to express uncertainty over his candidacy in New York City’s mayoral race, even after a significant defeat in the Democratic primary by emerging candidate Zohan Mamdani.
However, a growing faction within the business community appears determined to push Cuomo towards withdrawal, fearing that his continued presence in the race could jeopardize current mayor Eric Adams’ chances in the general election.
Sources reveal that these influential business leaders are preparing to withdraw financial support from Cuomo’s independent campaign, which they believe would inadvertently support a perceived threat of a leftist takeover of the mayor’s office.
One prominent businessman, who previously backed Cuomo, stated, “As far as we’re concerned, what Andrew wants to do doesn’t matter. He lost after running a horrible campaign and we can’t afford for him to screw up again. There’s a lot at stake.”
Concerns among business leaders center around Mamdani’s agenda, which includes proposals for government-operated grocery stores, cuts to police funding, and significant tax increases targeted at high earners.
Despite being a smaller voting demographic, the backing of the business community remains crucial for both Cuomo and Adams to establish a solid campaign against Mamdani’s well-funded effort.
Cuomo, who has faced backlash for his underwhelming campaign, is reportedly working behind the scenes, attempting to retain the support of his financial backers.
Bill Ackman, a notable hedge fund billionaire and former Cuomo supporter, recently aligned himself with Adams, which illustrates the shifting allegiances among the business elite.
An executive from a leading Wall Street firm commented on Cuomo’s current standing, saying, “Cuomo is nowhere right now. He needs two or three big donors to publicly call on him to continue to run. He needs that for credibility and so far it hasn’t happened.”
Cuomo has contended that a lack of aggressive campaigning against Mamdani was based on pre-election polling indicating he was leading, thus reducing the urgency to bolster support.
Even following his significant defeat — losing by more than 10 points, according to final tallies from Tuesday’s election — Cuomo maintains that Adams is more unelectable.
Cuomo’s team claims that due to the corruption issues surrounding Adams’ administration, the current mayor’s decision to sit out the Democratic primary was detrimental to his campaign prospects.
To support their assertion of Adams’ lack of viability, team Cuomo pointed to a recent poll showing him performing better in a hypothetical matchup against Mamdani if he were to exit the race.
However, despite a slight uptick in this polling data, fears remain among business leaders regarding the implications of Cuomo’s possible re-entry into the race.
Many business figures remain unconvinced of Cuomo’s potential and point to what was perceived as a feeble concession speech he delivered, which even included accolades for Mamdani, an individual they view as advocating extreme policies.
Adams is reportedly engaging with business leaders regularly, striving to build consensus that Cuomo should not be given another chance after his lackluster primary performance.
Formal discussions and strategy sessions have commenced to dissect how best to manage the campaign against Mamdani and ensure the city has effective leadership against radical changes proposed by the new candidate.
Carone, Adams’ former chief of staff, indicated a notable shift in sentiments, stating, “We’re not calling people, but people in the business community are calling us asking how we can help and hear our plan on how we are going to win. That began literally at 10 p.m. on primary night when Mamdani won.”
Cuomo was seen last weekend at a high-profile East Hampton wedding, mentioning to attendees that he is still in the electoral race, though circumstances might lead him to reconsider if the path forward seems bleak.
Insiders associated with Cuomo maintain that he is still vying for victory and preparing to launch additional polling data to demonstrate his advantages over Mamdani, compared to Adams and Republican candidate Curtis Sliwa.
Despite these claims, confidence from the business sector in Cuomo’s viability appears to be waning, framing a pivotal moment in the mayoral race that could ultimately define New York City’s future leadership landscape.
image source from：nypost
