A host of New York’s powerful billionaires are mobilizing support for Andrew Cuomo as he pursues the mayoral seat, pledging financial contributions and strategizing ways to encourage Mayor Eric Adams to withdraw from the race.
These efforts intensified over the weekend, with sources indicating that advisers to President Donald Trump have also broached the possibility of offering Adams a position in Trump’s administration, a move that could potentially clear the path for Cuomo.
In addition to potential roles in the political sphere, private sector opportunities have also surfaced. A job at Related Companies, a leading real estate development firm in the city, has been proposed for Adams as a means to coax him away from seeking reelection.
The overarching aim of these maneuvers is to bolster Cuomo’s chances in the upcoming November election, where he faces a challenging landscape as an independent candidate against Zohran Mamdani, the Democratic nominee whose socialist agenda includes increasing taxes on the wealthy.
Polling indicates that Cuomo remains the strongest contender against Mamdani, but there are concerns among his supporters that Adams’s presence in the race could hinder his chances.
A recent Siena/New York Times poll highlighted that a direct contest between Cuomo and Mamdani would yield a much closer race than if Adams were also running.
In an email circulated on Saturday, billionaire investor Laurie Tisch expressed her determination to rally business leaders around Cuomo, urging them to act decisively for his campaign.
“There is no more time for delay, discussion, or dithering — we must act decisively to ensure that the mayor of New York City is Andrew Cuomo,” Tisch stated, emphasizing the urgency to unite financial capital in favor of Cuomo’s candidacy.
The invitation from Tisch included a fundraiser for Cuomo at her residence scheduled for September 24, aiming to provide an opportunity for the business community to connect with the former governor.
Following Tisch’s email, Jeff Blau, CEO of Related Companies, echoed her sentiments in a follow-up invitation sent to business leaders for an emergency meeting with Cuomo at the Seagram Building in Manhattan.
“Sorry for the late notice, but there is no more time for delay, discussion, or dithering — we must act decisively to ensure that the next mayor of New York is Andrew Cuomo,” Blau wrote, signaling a concerted push from key figures in the business community to support the ex-governor.
Blau’s email was co-signed by various prominent investors and real estate moguls, many of whom previously supported Cuomo during his unsuccessful bid in the Democratic primary.
Additionally, discussions have occurred regarding potential job offers for Adams fromRelated Companies. Sources indicate that a high-level position in global security, with a significant salary, is being considered as an incentive for Adams to cease his campaign.
While Related Companies initially refrained from commenting on these discussions, a representative later categorically denied any intention of offering employment to Adams.
Adams’s campaign advisor Frank Carone acknowledged ongoing discussions regarding job opportunities for the mayor but stated he was not directly involved.
When questioned about the meeting between Cuomo and Blau, Adams acknowledged the corporate community’s concerns regarding Mamdani’s policies but maintained that he is committed to his campaign.
Cuomo’s campaign spokesperson expressed a lack of knowledge regarding any discussions about job offers for Adams, indicating that such developments remain speculative.
In her email to colleagues, Tisch stressed the significance of uniting efforts to support Cuomo, framing the election as a pivotal moment for the city’s business future.
“If we fail to mobilize, the financial capital of the world risks being handed over to a socialist this November,” she cautioned, reflecting the growing anxiety within the business community about the implications of a Mamdani administration.
Mamdani’s campaign has responded by emphasizing their commitment to mobilizing grassroots support among New Yorkers to advocate for a platform aimed at improving affordability in the city.
Despite past support for Adams post-primary, many in the billionaire class are reconsidering their stance, with figures like hedge fund manager Bill Ackman expressing renewed support for Cuomo, asserting a belief that Adams’s viability as a candidate has diminished.
Amidst these developments, Adams continues to face challenges related to his popularity, exacerbated by his recent federal corruption indictment.
While predictions remain that Adams may ultimately place fourth in the election, behind both Cuomo and Mamdani, he has consistently asserted his dedication to remain in the race.
Sources have indicated that Adams and his advisors have engaged in discussions for potential job offers across both the public and private sectors.
Conversations regarding a possible ambassadorial role for Adams have also emerged, with speculation tied to discussions with Trump’s team in Florida.
In a more recent appearance, Trump acknowledged that he has not personally negotiated a job for Adams, yet conceded that Adams’s polling situation is difficult and that the political landscape would shift dramatically if others were to withdraw.
The mayor’s campaign is now intertwined with the strategic moves of various powerful stakeholders in the city, all attempting to shape the outcome of the forthcoming election.
As Adams maintains his course in a challenging political environment, the dynamics surrounding Cuomo’s campaign and the interplay of billionaire support will undoubtedly continue to evolve leading up to November.
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