Hamptons Panic: NYC's Wealthy Elite Anxious About Mayoral Race

The Hamptons, a summer playground for New York City's wealthiest residents, is buzzing – not with summer relaxation, but with anxiety over the upcoming mayoral election. Zohran Mamdani, the Democratic socialist nominee, is leading in the polls, causing considerable unease among the city's elite.

The Mamdani Factor

Mamdani's statement on "Meet the Press" – "I don’t think we should have billionaires" – has ignited a firestorm. High-profile figures like Greg Kraut (KPG Funds) and Bill Ackman have voiced strong opposition, predicting a disastrous outcome for the city and an exodus of billionaires if he wins.

Cuomo and Adams' Counter-Offensive

Former Gov. Andrew Cuomo and Mayor Eric Adams, running as independents, are actively campaigning in the Hamptons, capitalizing on the anxieties of the wealthy. They've been holding high-profile fundraisers attracting real estate moguls, crypto kings, and even reality TV stars. A notable near-miss occurred when both attended the same Southampton restaurant on the same night, with Cuomo making a hasty exit upon hearing of Adams' arrival.

The Divided Elite

While some, like John Catsimatidis, remain on the sidelines, others are actively supporting Cuomo or Adams. Patricia Duff, a Democratic donor, while acknowledging Mamdani's charisma, expressed concerns about the practicality of his policies. Others worry about his stance on Israel, a concern dismissed by some as irrelevant to the mayoral race.

The Money Game

Cuomo and Adams' Hamptons fundraising efforts have generated significant sums, while Mamdani, currently ahead in fundraising, hasn't held any events in the area. This highlights the stark contrast in campaigning strategies and the different segments of the population they are targeting.

Will the Billionaire Backlash Matter?

The outcome remains uncertain. While the anxiety among the wealthy is palpable, the question remains whether this will translate into enough votes to sway the election, especially given Mamdani's substantial lead in the polls. The coming weeks will be crucial, with speculation about whether Adams or Cuomo will drop out.