Billionaire Bill Ackman flexes political muscle, announces his pick for NYC mayor

Billionaire investor Bill Ackman is once again flexing his political muscle — this time by publicly touting the New York mayoral candidacy of former hedge fund manager Whitney Tilson because “we don’t want NYC to become San Francisco or, God forbid, Los Angeles.”Tilson, who founded Kase Capital Management in 1999 and was among the first prominent Democrats to demand President Joe Biden exit the 2024 race, has thrown his hat into the ring to challenge incumbent Mayor Eric Adams in the Democratic primary this June.Ackman, who leads Pershing Square Capital Management, shared his endorsement on the social media platform X, praising Tilson as “pro-business, anti-waste, and identity politics,” and expressing confidence in his ability to revitalize the city.“We don’t want NYC to become San Francisco or, God forbid, Los Angeles.Whitney can help save us,” Ackman wrote.“He will inspire young, talented individuals to join his administration.”San Francisco has fallen on hard times since the coronavirus pandemic as companies have fled the city’s high taxes, soaring crime rate, rampant homelessness, widespread drug use and overall decrease in quality of life.Los Angeles, parts of which have been destroyed by fast-spreading wildfires, has also been plagued with similar challenges.Ackman and his wife, Neri Oxman, recently hosted a fundraiser for Tilson, underscoring their support.Ackman has previously used his platform on X to voice political opinions, backing candidates such as former Rep.

Dean Phillips (D-Minn.) and expressing his support for President-elect Donald Trump, as well as his advocacy for Israel following the October 2023 Hamas attacks.Tilson, 58, has remained active in philanthropy, serving on the advisory board of Ackman’s Pershing Square Foundation and the board of KIPP Academy charter school in the South Bronx.He officially launched his campaign for mayor in November.Adams, who faces declining poll numbers and a federal corruption indictm...