A group of wealthy New York businessmen have in the past few days pumped more than $3 million into newly-formed super PACs that aim to stop mayoral front-runner Zohran Mamdani as the prospect of the democratic socialist running City Hall looks increasingly likely, new filings reveal.
The last ditch spending blitz comes as the Democratic nominee continues to dominate the mayoral race, with polls showing him holding a double digit lead over his closest competitor, independent candidate Andrew Cuomo.
The spending spree — which comes as early voting in the Nov. 4 election is set to start this Saturday — marks the latest sign that the city’s business communities are increasingly anxious about the rise of Mamdani, who has vowed to as mayor increase taxes on millionaires and corporations in order to underwrite an affordability agenda that includes a dramatic expansion of free childcare.
The businessmen engaged in the effort, Eminence Capital CEO Ricky Sandler, real estate investor Richard Mack and real estate investor Marty Berger, funneled the $3.264 million into three new PACs via a corporate entity they control called Put NYC First, Inc., disclosures show.
Ricky Sandler, founder of Eminence Capital, attends Allen & Company’s Sun Valley Conference on July 12, 2012 in Sun Valley, Idaho. (Photo by Kevork Djansezian/Getty Images)
The largest chunk of that, $2 million, was donated Friday to For Our City, one of the newly-formed PACs, per the filings. That PAC, in turn, placed a $1.5 million “media buy” Sunday for ads that are expected to targett Mamdani, records show. The specifics of the ads weren’t immediately available.
The treasurer for the For Our City PAC didn’t immediately return a request for comment. Sandler, Mack and Berger couldn’t immediately be reached, either.
The trio’s Put NYC First entity also pledged just over $1 million on Thursday and Friday to Stop the Socialists, another newly-formed PAC. That PAC hadn’t registered any spending as of Monday morning, and a rep didn’t return a request for comment.
Additionally, the business honchos’ entity earlier this month donated just under $255,000 to a third super PAC, Good Growth NYC, previously unreported filings show. That PAC has so far spent $200,000 of that on street “canvassing” for Cuomo’s campaign and another $13,000 on “flyers” boosting the former governor, according to records.
Independent mayoral candidate Andrew Cuomo speaks during a mayoral debate, Thursday, Oct. 16, 2025, in New York. (AP Photo/Angelina Katsanis, Pool)
A spokesman for Cuomo, who by law can’t coordinate any activities with super PACs supporting his campaign, didn’t immediately return a request for comment.
Mamdani campaign spokeswoman Dora Pekec shrugged off the latest super PAC efforts.
“Another day, another ineffective billionaire-backed PAC that won’t make a dent in the movement Zohran Mamdani is building to make New York City more affordable,” she said.
Unlike campaigns of candidates, super PACs have no fundraising or spending caps, allowing them to funnel unlimited amounts of money into elections to try to impact the outcome.
Outside spending in this year’s mayoral race has reached historic levels, with billionaires and business leaders pouring tens of millions of dollars into efforts mostly aimed at hampering Mamdani.
Prior to their new spending, the entity controlled by Sandler, Mack and Berger had already dished out $750,000 to two other PACs, including $250,000 to New Yorkers for a Better Future Mayor 25, a pro-Cuomo entity.
Richard Mack attends the UJA-Federation Of New York Real Estate Luncheon at Cipriani 42nd Street on June 12, 2014 in New York City. (Photo by Slaven Vlasic/Getty Images)
New Yorkers for a Better Future Mayor 25 is coordinating with Fix the City, by far the largest pro-Cuomo, anti-Mamdani super PAC operating in the general election cycle.
Fix the City, which also backed Cuomo’s unsuccessful campaign against Mamdani in June’s Democratic mayoral primary, has raised more than $30 million to date, including receiving a $1 million contribution from Airbnb founder Joe Gebbia last week.
Based on recent polls, however, the heavy PAC spending is doing little to change the dynamics of the race.
Nearly all surveys continue to show Mamdani beating Cuomo handily in a three-way matchup that also includes Republican mayoral nominee Curtis Sliwa, who’s polling at the back of the pack. One new poll released Monday, however, suggested Cuomo would have a far better shot at beating Mamdani if Sliwa steps out of the race.
Originally Published: October 20, 2025 at 10:59 AM EDT
