As Democratic mayoral nominee Zohran Mamdani charges into the general election, allies and opponents are mobilizing behind new super PACs—one to propel him to City Hall, the other to stop him from getting there—amid growing unease in the city’s business circles.
A pro-Mamdani PAC named “OneNYC” was filed on Thursday, according to state campaign finance records. The independent expenditure lists Yasser Salem, a partner at the private investment group Hira Ventures, as its treasurer.
“Campaigning and mobilizing provides a massive platform to elevate community capabilities and culture, collectively and individually,” he wrote on X just days before the June 24 primary won by Mamdani. “After the primaries, we should reflect on this together and think hard on establishing and well-oiled machine/operation #nycmuslimvotesmatter.”
The PAC was first reported by the Daily News.
Salem did not immediately respond to a request for comment. Mamdani’s campaign denied any previous knowledge of the PAC.
Mamdani, a democratic socialist Queens Assembly member, also benefits from the support of a separate PAC named “New Yorkers for Lower Costs” that formed during the primary. It raised over $1.3 million during the Democratic contest, state records indicate, and reportedly will continue operating during the general election.
At the same time, a group of business honchos dead-set on stopping Mamdani formed their own PAC — “New Yorkers for a Better Future Mayor 25” — on Tuesday, according to a Wall Street Journal report and state records. The group is reportedly planning to raise $20 million against Mamdani.
The PAC’s treasurer, Jeffrey Leb, is a managing partner at Capitol Consulting LLC, according to his LinkedIn page.
Many in the city’s business community are alarmed by Mamdani’s mayoral bid, citing his plan to fund affordability initiatives by raising taxes on corporations and high earners—measures that would require approval from state lawmakers. He has proposed raising the state’s corporate tax rate from 7.25% to 11.50%, in line with New Jersey’s, and adding a flat 2% income tax increase for those earning over $1 million a year.
Mamdani, who has been meeting with business and real estate leaders worried about him becoming mayor, said on Thursday that while he holds firm in his beliefs, he has no intention of driving them out of the city.
“My vision of this city is not one where any business leader leaves this city, where any real estate developer feels as if they have no place in this city,” Mamdani said during an unrelated July 10 news conference. “It is a vision of this city where everyone stays, everyone thrives, and we actually make enough room for more to join us.”
However, the group has yet to pick a Mamdani challenger in a field that includes incumbent Mayor Eric Adams and possibly former Gov. Andrew Cuomo — who will both appear on the ballot as independents.
Adams and Cuomo are both calling on the other to drop out of the race, each believing they are the one best positioned to take on Mamdani in November. Each faces an uphill battle against Mamdani, who soundly defeated Cuomo by roughly 13% in the primary, after ranked-choice tabulations, and has been leading both by double digits in a string of recent polls.
During the primary, hedge fund manager and President Trump-ally Bill Ackman contributed half a million dollars to Fix the City, a super PAC that supported Cuomo in that race. Fix the City ended up spending over $22 million to flood the airwaves and line mailboxes with Mamdani attack ads — a massive expenditure that appeared to be in vain given Mamdani’s margin of victory.
Fix the City has reportedly continued to raise hundreds of thousands of dollars since the primary, aiming to back a candidate capable of defeating Mamdani in the general election.
Ackman announced last week that he is switching to support Adams in the general election after determining the current mayor stands a better chance at overcoming Mamdani than the former governor.
The new PACs formed as establishment Democratic pols and groups have begun coalescing around Mamdani in recent days. Just this week, Mamdani was endorsed by U.S. Rep. Adriano Espaillat (D-Manhattan/Bronx) and the Manhattan Democratic Party, both of whom backed Cuomo in the primary, as well as the United Federal of Teachers, which declined to back a candidate in the Democratic contest.
