Bill Ackman urges Andrew Cuomo to drop out of NYC mayoral race, begrudgingly endorses Eric Adams

Billionaire hedge fund titan Bill Ackman has urged a “subdued” former Governor Andrew Cuomo to drop out of New York City’s mayoral race — as he officially backed Eric Adams’ bid for reelection.

Ackman, who doled out $500,000 to Cuomo’s failed Democratic primary campaign, acknowledged late Wednesday that Adams was the only one who could beat Democratic nominee Zohran Mamdani at the polls.

Bill Ackman speaking at a conference. — Bill Ackman speaks at the Milken Institute Global Conference in Beverly Hills on May 6, 2025. AFP via Getty Images

Mayor Eric Adams speaking at a podium. — Mayor Eric Adams speaks at the Roosevelt Hotel on July 2, 2025. Stephen Yang

“In short, my takeaway is that Adams can win the upcoming election and that the Governor should step aside to maximize Adams’ probability of success,” he said in a lengthy X post.

“I say this while having a high regard for Andrew Cuomo and his contributions to New York State. But it was abundantly clear in his body language, his subdued energy and his proposals to beat Mamdani, that he is not up for the fight.”

Ackman said he made the call after meeting with both Adams and Cuomo at length earlier this week.