Andrew Cuomo, Fmr. New York governor, joins 'Money Movers' to discuss the New York City mayoral race and safety in the city and leading democratic candidate Mamdani.

New York

Former New York Governor Andrew Cuomo has stated that if candidate Zohran Mamdani wins the mayoral race, it could lead to businesses leaving New York City. Cuomo described Mamdani's platform as anti-corporate and anti-capitalist, suggesting it has caused concern among the business community. He noted that the Democratic Party is divided, with a growing socialist contingent and a lack of unified support for the nominee.

Cuomo also pointed to low voter turnout in previous elections and suggested that the stakes of this race, including issues of anti-Semitism and the candidate's lack of executive experience, could drive higher participation. He emphasized that this election represents a significant shift for the city, with potential long-term consequences.

Cuomo: Businesses will leave if Mamdani wins mayoral race

I wonder what you make of the Democratic Party and their reaction, semi-embrace of him, of Mamdani. You know, they say he tapped into a lot of real issues that people have with grocery affordability and housing availability. And they have not denounced him for being anti-Semitic or for anti-Israel or anti-capitalist. Yeah. Well, Sarah, you know, first of all, I don't think there was a they right now, right? You have a schism within the Democratic Party, which has been growing for years. And you have a socialist, if you will, contingent within the Democratic Party. And you've seen it growing over the past five, six, seven, eight years. And then you have what would be more traditional mainstream Democrats, if you will. And you see the ambivalence playing out here. Normally, the Democratic nominee, the entire Democratic Party would endorse the Democratic nominee. That's not happening here, because in this topsy-turvy world, you have a socialist running as the Democrat on the Democratic line and a Democrat running on the independent line, right? So it's— I know. It's all mixed up. Yeah. So you have a lot of business backers, and you speak to a lot of businesses. What do you think would happen if Mamdani wins to business in this city? Oh, I think—I think you would see businesses leave. I don't think there's any doubt about that. There's a hostility towards business, right? Socialism first, by and large, is sort of anti-corporate by definition. But his theory of government controls the production of goods, right? Everything free. Government-run grocery stores. This is an anti-corporate, anti-capitalist, anti-business philosophy. And it has petrified, and it should petrify, the business community. And remember, now they don't have to be here, right? There's a new mobility post-COVID. You can Zoom. So they're not locked into New York the way they were 20 years ago. And we've been seeing that. But wealthier people, corporations, they will leave. To the extent it comes down to turnout, let's assume there is—you do consolidate, and Adams were to drop out. I mean, I think there's 4.9 million registered voters in the city of New York, but only about 23 percent of them actually show up to vote in a mayoral election. What do you need in terms of real turnout if you actually have a chance here of beating Mamdani? Well, the primary is so small, right? The entire vote was about 20 percent. I lost by about 2 percent of the registered voters. I think you're going to see a big turnout. There's about 5 million total voters. There have been turnouts of about 2 million. I would not be surprised if you see a much larger turnout, because this is a shocking election at a very alarming time. You have anti-Semitism that's going on in this city. We have one of the highest rates of anti-Semitism of any city in the United States of America. And the highest number of Jews outside of Israel. Yes, and the highest population outside of Israel. So you have that issue. You're talking about electing a socialist, which takes a lot of people back, right? A 33-year-old, never had a job, and now the first job is going to be mayor of New York. You have to manage 300,000 people, $115 billion budget. You wake up and there's a shooter on Park Avenue. And you've never done anything like this before, and it's all on-the-job training. So I think there's a lot of major factors that will motivate people to vote. And they should vote, because this is not a choice between two candidates who are basically just different flavors of the same variety. This is a dramatic, dramatic shift for the city, with dramatic consequences that I think would resonate for decades.

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