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Mayors

Bloomberg's $5 Million Donation to Cuomo's Super PAC the Largest in New York City History

Strategic Insights

— 1 min read

Michael R. Bloomberg, the billionaire former mayor, has made the largest donation to a super PAC in the New York City mayoral race this year, contributing $5 million to Fix the City, a super PAC supporting Andrew M. Cuomo's bid for mayor. This follows his endorsement of Cuomo for mayor, where he described Cuomo as the "one candidate whose management experience and government know-how stand above the others." The donation brings the PAC's haul to roughly $20 million, the biggest super PAC in New York City history, and will amplify its ability to target Zohran Mamdani, the democratic socialist candidate.

Key Takeaways:

  • Michael R. Bloomberg's $5 million donation to Fix the City is the largest to a super PAC in the New York City mayoral race this year.
  • The donation brings the PAC's haul to roughly $20 million, the biggest super PAC in New York City history.
  • Fix the City will target Zohran Mamdani, the democratic socialist candidate, in the June 24 Democratic primary.
  • The PAC had raised roughly $15 million before Bloomberg's donation and spent about $9 million on advertising.
  • The donation will amplify the PAC's ability to flood the airwaves as early voting begins on Saturday.
  • Some of Mamdani's rivals have super PACs, but none have raised anywhere close to even Bloomberg's individual contribution, with New Yorkers for Lower Costs reporting $400,000.
  • Bloomberg's donation is the PAC's largest, followed by a $1 million donation from DoorDash, which is lobbying city officials on regulations.
  • The PAC has also received $250,000 each from the real estate developers Peter Fine, Two Trees Management, and Scott Rechler, and hedge fund managers Daniel Loeb and Bill Ackman.

Statistics:

  • The $20 million haul by Fix the City is the largest ever for a super PAC in New York City.
  • The PAC has spent about $9 million on advertising before Bloomberg's donation.
  • Bloomberg's $5 million donation is the largest individual contribution to the PAC.
  • DoorDash has donated $1 million to the PAC.
  • The PAC has received $250,000 each from the real estate developers Peter Fine, Two Trees Management, and Scott Rechler, and hedge fund managers Daniel Loeb and Bill Ackman.
  • New Yorkers for Lower Costs, a super PAC supporting Mamdani, has raised $400,000.

Sources:

  • "The New York Times," "Bloomberg Gives $5 Million to Cuomo Super PAC" [1]
  • [No additional sources were mentioned in the original article]

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