THE AMERICA ONE NEWS
Jun 28, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
Cameron Henderson


New York braces for billionaire exodus after socialist Zohran Mamdani’s win

New York is bracing for an “exodus of billionaires” after the Democrats nominated a staunch socialist as their candidate for mayor.

Zorham Mamdani, a 33-year-old “anti-Zionist”, sent shock waves through American politics on Tuesday when he beat Andrew Cuomo, the former governor, in the Democratic primary, earning him the party’s nomination for November’s mayoral election.

A rank outsider, Mr Mamdani was carried to victory by a wave of young voters who were won over by his radical campaign pledges to freeze rents and introduce free public transport and city-run grocery stores, all of which he pledged would be paid for by hiking taxes on the wealthy.

The primary result has sparked panic among New York’s ultra-rich, with luxury real estate agents inundated with calls from clients looking to relocate or freeze plans to move their businesses to Manhattan.

One high-end broker described Mr Mamdani’s victory as the “worst thing for the housing market since 9/11”, while another called it the “nail in the coffin” for New York.

“There’s an old saying in real estate: Money goes where it’s welcome,” said John Boyd Jr, founder of Florida-based corporate site selection specialist The Boyd Co, who works with a range of multi-millionaire New York-based clients.

“There’s alarms going off among many key executives as well as the billionaire class about New York becoming a socialist run city,” he said.