Bill Ackman pledges to bankroll any NYC mayoral candidate willing to step forward that can defeat Mamdani

Bill Ackman, chief executive officer of Pershing Square Capital Management LP, speaks during a Bloomberg Television interview in New York. (Credit: Christopher Goodney—Bloomberg via Getty Images)

• Hedge-fund billionaire Bill Ackman said he and his wealthy associates are ready to pour “hundreds of millions of dollars” into the campaign for an aspiring politician looking to position themself on the national stage: “The risk/reward of running for mayor over the next 132 days is extremely compelling as the cost in time and energy is small and the upside is enormous.”

Hedge-fund billionaire Bill Ackman plans to bankroll a New York City mayoral campaign, arguing that his affluent associates are poised to flood the election with money in an effort to defeat Democratic Socialist frontrunner Zohran Mamdani.