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Mamdani Topples Billionaires, Splits Democrats

Mamdani Topples Billionaires, Splits Democrats
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By Staff, Agencies

In a historic victory that is reshaping the political landscape of the United States' largest city, Zohran Mamdani, a 34-year-old democratic Muslim socialist and state assemblyman, has been elected as New York City’s next mayor.

His win has deepened ideological rifts within the Democratic Party, sparked fierce opposition from Republicans, and signaled the growing strength of the progressive left.

Mamdani ran on a bold agenda that prioritized tackling inequality and affordability in the city. His platform included rent freezes, universal childcare, free bus transportation, and increased taxation on corporations and the wealthy.

"This election proves that democratic socialist ideas are very popular," said Ashik Siddique, co-chair of the Democratic Socialists of America. "We hope this demonstrates a very powerful way forward."

Mamdani triumphed despite a billionaire-backed campaign, with 26 wealthy donors pouring over $22 million into supporting his opponent, former governor Andrew Cuomo.

Top donors included Michael Bloomberg, Bill Ackman, and Ronald Lauder. “Billionaires like Bill Ackman and Ronald Lauder have poured millions into this race because they say we pose an existential threat,” Mamdani said. “They are right.”

His campaign accused Cuomo of defending a “cynical politics of the past.” Spokesperson Dora Pekec said billionaire-backed groups “wasted millions trying to scare working-class New Yorkers.”

Mamdani’s win has sharpened existing divides within the Democratic Party, as leading establishment figures, including House Minority Leader Hakeem Jeffries and Senators Chuck Schumer and Kirsten Gillibrand, offered minimal or delayed endorsements.

Former President Barack Obama contacted Mamdani privately but refrained from publicly backing his candidacy.

Progressives celebrated the win, but centrists urged caution. “Much ink will be spilled over Mamdani,” said Matt Bennett of Third Way, “but the idea that he will define what it means to be a Democrat is absurd.”

A CBS poll found only 22% of Democrats back a socialist shift, while most prefer a mixed economy.

Republicans branded Mamdani’s win as proof of Democratic radicalism, with Trump calling him “a 100 percent Communist lunatic.”

Analysts say Mamdani’s agenda could fuel GOP turnout in swing districts, giving Republicans “potent ammunition.”

Despite his victory, Mamdani now faces significant challenges in enacting his progressive platform. Key initiatives, such as free bus service and increased taxes on top earners, will require cooperation with state-level agencies and lawmakers in Albany.

A report by J.P. Morgan Asset Management questioned the feasibility of some proposals, stating that several “are not viable in their current form” due to legislative and financial resistance, particularly to new corporate tax hikes.

Still, Mamdani’s supporters see the victory as a national signal. Senator Bernie Sanders congratulated the mayor-elect, saying the result sends a clear message: "You can stand up to the oligarchs and win."

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