NYC socialist who opposes billionaires takes money from hedge fund heiress

The heiress to the fortune of a billionaire hedge fund manager has made a substantial donation to a super PAC aligned with socialist New York City mayoral candidate Zohran Mamdani, a candidate who has said he does not believe billionaires should exist.

In what amounts to the largest contribution received this cycle, the Mamdani-aligned New Yorkers for Lower Costs PAC recently received $250,000 from philanthropist Elizabeth Simons, New York Post reported. 

Simons is the daughter of Jamie Simons, the late billionaire hedge fund manager who founded the extremely successful hedge fund Renaissance Technologies, built up a personal fortune worth $31.4 billion over the course of his lifetime and used billions of that money for charity.

“I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality, and ultimately, what we need more of is equality across our city and across our state and across our country,” Mamdani told NBC News in June. 

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News of Mamdani’s billionaire support prompted criticism on social media, including from Mamdani’s opponent, former New York Gov. Andrew Cuomo. 

“Congrats to you, @ZohranKMamdani for completing the holy trinity of hypocrisy: Eat the rich → Cash their PAC checks,” Cuomo posted on X. “Freeze the rent → Rich guy in affordable housing you don’t need. Defund the police → Armed guards worldwide… from the campaign trail to Uganda. You are what you pretend to fight.”

Fox News Digital reached out to the Mamdani campaign and New Yorkers for Lower Costs PAC, which operates independently of the campaign, asking if the funds would be returned or denounced but did not receive a response from either party.

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Railing against billionaires has been a common occurrence over the course of Mamdani’s campaign as he has attempted to position himself as a candidate who champions affordability and cost of living for New York City’s working class.

“We’re reaching New Yorkers who’ve been ignored by establishment politicians and crushed by the billionaire class,” Mamdani posted on X in March. “Our grassroots momentum will carry us over the finish line in June.”

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Mamdani has also criticized Cuomo for taking money from billionaires, posting on X in June, “We live in the most expensive city in the United States. Cuomo’s billionaire donors want it that way. But we have an agenda to make life affordable.”