“Mamdani’s Fundraising Leads New York Mayoral Race, Outshining Cuomo and Adams | CNN Politics”

Zohran Mamdani, the Democratic candidate for New York City mayor, has skyrocketed in fundraising. In just a few weeks, he raised over $1 million, according to recent campaign reports.

This amount dwarfs the $425,000 raised by incumbent Mayor Eric Adams, who is struggling in his independent bid for a second term. Former New York Gov. Andrew Cuomo, who recently relaunched his campaign after losing to Mamdani in the primaries, managed just over $507,000.

Cuomo faced a significant financial hurdle, even transferring $68,000 from a state campaign account to bolster his city campaign.

In contrast, Republican nominee Curtis Sliwa, viewed as a lesser contender in the predominantly Democratic city, raised around $407,000.

Mamdani’s impressive fundraising is an increase from the $852,000 he collected the previous month. His surprising victory over Cuomo in the Democratic primary last June energized his campaign.

As of now, Mamdani has about $4.4 million on hand, having raised funds from over 8,000 contributors. Interestingly, around half of his donations came from outside New York City.

“With more than 50,000 volunteers and lots of small-dollar donors, we’re seeing significant momentum,” said campaign spokesperson Dora Pekec.

Cuomo’s campaign has about $1.2 million available and is hoping for $525,000 in matching funds. His previous administration faced corruption allegations, though he was not directly implicated. Recently, his former chief advisor was accused of accepting bribes, adding more drama to the campaign.

Mamdani is also gaining attention for criticizing the influence of billionaires in politics. Despite his stance, he received a hefty $250,000 donation from Elizabeth Simons, daughter of hedge-fund co-founder James Simons, to a pro-Mamdani super PAC. This was the largest contribution reported by that group so far.

Mamdani has been vocal about his views on wealth inequality. After winning the primary, he stated, “I don’t think that we should have billionaires… we need more equality across our city and country.” His campaign’s approach resonates with many voters concerned about income inequality.

The dynamics of this race showcase a complex interplay of traditional campaign fundraising and the rising influence of grassroots movements. While Mamdani relies heavily on small donations and volunteer enthusiasm, Cuomo seems to depend on larger contributions from wealthy supporters.

Interestingly, Alice Walton, the Walmart heir, has also thrown her weight behind Cuomo, donating $100,000 recently. This highlights the ongoing tension between grassroots candidates and established political figures backed by wealth.

As the election approaches, it will be fascinating to see how these fundraising efforts reflect voter sentiment and influence the outcome.

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