Jewish Billionaire Heiress Donates $250,000 Donation to Zohran Mamdani’s PAC 

Elizabeth Simons, a Jewish philanthropist and heiress to the late billionaire hedge fund manager James Simons, has donated $250,000 to New Yorkers for Lower Costs, a super PAC supporting democratic socialist Zohran Mamdani’s campaign for New York City mayor. The donation, the largest single contribution to the group, has raised eyebrows due to Mamdani’s vocal opposition to billionaires, creating a paradox in his campaign narrative.

Background on the Donation

Simons, chairwoman of the Heising-Simons Foundation, made the donation to New Yorkers for Lower Costs, which has raised nearly $2 million from nearly 300 donors to bolster Mamdani’s bid. The PAC operates independently of Mamdani’s campaign, as required by law, but its funds support pro-Mamdani ads and outreach. James Simons, who founded Renaissance Technologies and had a net worth of $31.4 billion at his death in 2024, was a noted Democratic donor, and Elizabeth has continued this legacy, contributing over $19 million to federal Democratic candidates and committees since 2017, including $5,000 to the Working Families Party, $1,000 to city council candidate Tiffany Cabán, and $2,100 to Mamdani post-primary.

The donation, reported by The New York Post and The Telegraph in August 2025, came weeks after Mamdani told NBC’s 'Meet the Press' in June, “I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality.” He added, however, that he would work with everyone, including billionaires, for a fairer city. The contribution has fueled accusations of hypocrisy, with former Gov. Andrew Cuomo tweeting, “Congrats to you, @ZohranKMamdani for completing the holy trinity of hypocrisy: Eat the rich → Cash their PAC checks.” Conservative outlets like Fox News have pressed Mamdani’s campaign on whether the funds will be returned, but no response has been reported.

Mamdani’s Campaign and Jewish Community Outreach

Mamdani, the first South Asian and Muslim mayoral candidate in NYC, secured a stunning upset in the June 24, 2025, Democratic primary, defeating Cuomo by 12 points despite a $25 million campaign by pro-Cuomo super PAC Fix the City, backed by billionaires like Michael Bloomberg ($8.3 million), Bill Ackman ($500,000), Barry Diller ($250,000), Reed Hastings ($250,000), Daniel Loeb ($250,000), and Alice Walton ($100,000). His grassroots campaign, powered by 50,000 volunteers and endorsements from Rep. Alexandria Ocasio-Cortez and Sen. Bernie Sanders, focused on rent freezes, higher taxes on the wealthy, and affordability for working-class New Yorkers.

Mamdani’s outreach to the Jewish community has been notable but polarizing. His Yiddish-language posters in Borough Park and interviews with Yiddish publications were unprecedented for a mayoral candidate, earning praise from some Jewish voters. However, his criticism of Israel, including calling for a ceasefire and opposing military aid post-October 7, 2023, has drawn accusations of antisemitism from opponents like Whitney Tilson, who highlighted Mamdani’s stance to Orthodox voters.

Posts on X have further fueled controversy, with unverified claims linking Mamdani’s senior advisor to Nazism and alleging foreign influence via a “Jews for Zohran” campaign tied to a China-based billionaire’s niece. These claims lack corroboration and should be treated with skepticism, but they reflect the charged atmosphere surrounding Mamdani’s candidacy.

Critics argue it undermines his socialist platform, while supporters, including New Lines Magazine, view it as a pragmatic move to counter the $26 million raised by Fix the City, which backed Cuomo’s failed primary bid. X posts have amplified the controversy, with @DarrigoMelanie claiming billionaires spent $20 million to block Mamdani to protect their wealth, while @gracieback2 alleged $37 million in Soros-linked funding, though no evidence confirms direct Soros involvement.

Mamdani’s campaign has also faced challenges beyond funding. His focus on affordability resonates with many, but rising antisemitic incidents in NYC, coupled with his pro-Palestinian stance, have alienated some Jewish voters, prompting real-estate investors to draft an “equity-swap” proposal to offset expected losses under his policies. Meanwhile, his alliance with Comptroller Brad Lander, who cross-endorsed him in the primary, has strengthened his progressive coalition, with Lander condemning Islamophobic attacks against Mamdani.

As the November election approaches, Mamdani remains the frontrunner, but the donation controversy could complicate his efforts to win over moderate Democrats, as he told ABC News. The race includes formidable opponents: Cuomo, now running independently, Adams, seeking re-election, and Sliwa, the Republican nominee. The Simons donation, while a financial boon, risks alienating voters skeptical of big-money influence, especially in a city grappling with inequality and polarized over issues like Israel-Hamas war.