{"id":2764,"date":"2026-06-23T12:37:36","date_gmt":"2026-06-23T12:37:36","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=2764"},"modified":"2026-06-23T12:37:36","modified_gmt":"2026-06-23T12:37:36","slug":"meet-the-billionaire-power-couple-advocating-communism-for-landlords-and-a-global-welfare-state-from-their-30m-hamptons-mcmansion","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=2764","title":{"rendered":"Meet the billionaire power couple advocating ‘communism for landlords’ and a global welfare state \u2014\u00a0from their $30M Hamptons McMansion"},"content":{"rendered":"
\n

Nothing says \u201cEat the rich\u201d like paying for the knives and forks.<\/p>\n

A hedge fund billionaire and his art groupie wife are pumping millions into socialist think tanks positioned to help New York City Mayor Zohran Mamdani achieve his Democratic Socialists of America-backed \u201cworker\u2019s paradise.\u201d<\/p>\n

Read more New York primaries 2026 live updates: Mayor Zohran Mamdani\u2019s far-left friends aim to take down moderates<\/a><\/p>\n

The pair are on a mission to punish landlords and railroad more New Yorkers into government housing, The Post has learned.<\/p>\n

From their $20 million Upper East Side townhouse \u2014 and their 10-bedroom, nine-bathroom, 10,000-square-foot Hamptons McMansion \u2014 Bobby and Carola Jain write checks funding Mamdani-linked intelligentsia paid to create models of how far-left concepts like universal basic income (UBI) and a decommodification of the housing market would work.<\/p>\n

It\u2019s the kind of anti-capitalist thinking that has some economists throwing up their hands.<\/p>\n

\u201cIt must be one of those cults where you have to show you\u2019re a member by mouthing absurd \u2019emperor\u2019s [new] clothes\u2019 nonsense,\u201d John Cochrane, an economist at Stanford University, told The Post.<\/p>\n

Sixteenth-century Grand Duke of Tuscany \u201cCosimo I de\u2019 Medici supported art because he worried about getting into heaven as a rich man. I wish our guilty billionaires would support great classical art instead of stupid social causes,\u201d he added.<\/p>\n

Whether motivated by guilt, social climbing or shrewd business acumen, the Jains join a growing list of ultra-wealthy benefactors \u2014 also including George Soros and Neville Singham \u2014 who made their billions through the capitalist system selling software or shorting markets, but now espouse the joys of socialism and sharing the wealth from their ivory towers.<\/p>\n

Their patronage means they have so far avoided any surprise house calls from Mamdani, who is on a blitz against the rich and, in April, filmed a viral video outside the Billionaire\u2019s Row home of investor Ken Griffin intended to shame wealthy folks.<\/p>\n

The stunt sparked a feud between the two, with the hedge fund boss calling the mayor\u2019s visit \u201ccreepy\u201d and \u201cweird.\u201d<\/p>\n

Jain, a Queens native, built a high-power finance career over 20 years at Credit Suisse in senior roles, later becoming co-chief investment officer at Millennium Management, one of the world\u2019s largest hedge funds.<\/p>\n

He left to launch his own hedge fund, Jain Global, which raised a massive $5.3 billion at launch in 2024, but after making only modest gains in 2025, he returned all cash to investors and the company now manages money exclusively for Millenium.<\/p>\n

Jain\u2019s socialist socialite wife Carola has a background in marketing but now mainly works in deciding where to allocate the family\u2019s capital.<\/p>\n

According to tax filings, the Jains have pumped over $30 million into their Jain Family Institute. The nonprofit builds out models for large-scale cash transfers to the downtrodden and creates roadmaps to UBI, advocating for a redistribution-focused economy, while publishing supportive analysis of Mamdani-esque policies like free buses and rent freezes.<\/p>\n

\u201cMy rich conservative hedge fund friends don\u2019t get kudos at the Met Gala,\u201d said Cochrane. \u201cAs for the actual [JFI] policies, they are well-tried and well-proven disasters.\u201d<\/p>\n

Neither the Jains nor JFI responded to The Post\u2019s requests for comment.<\/p>\n

Top Mamdani fundraiser Robert \u201cJack\u201d Gross is editor-in-chief of JFI\u2019s magazine, \u201cPhenomenal World,\u201d which endorses a \u201ccapitalism for developers, communism for landlords\u201d approach to New York\u2019s housing troubles.<\/p>\n

JFI outlets push decommodification rhetoric around housing which is critical of private capital and advocates a shift away from private landlords to public or nonprofit models.<\/p>\n

\u201cOnly public ownership offers an escape from the mounting pressure. If New York moves towards a model of social housing, it will be because public ownership is consistent with stable rents in a way that ownership by private investors fundamentally is not,\u201d an excerpt from one \u201cPhenomenal World\u201d article reads.<\/p>\n

Read more Mamdani takes the Jew-hate all the way to 11<\/a><\/p>\n

In an interview with John Roemer titled \u201cExploitation, Cooperation, and Distributive Justice\u201d the Marxist economist told JFI\u2019s magazine America\u2019s most radical lefty leaders are still too conservative.<\/p>\n

\u201cSocialism is back on the agenda in the United States, which is very exciting. Nevertheless, what people like Bernie Sanders and Alexandria Ocasio-Cortez are calling socialism is in fact just a series of economic reforms that don\u2019t alter property relations,\u201d he said.<\/p>\n

Gross is part of a three-person team that runs the NYC Policy Forum blog \u2014 which is also backed by JFI.<\/p>\n

That blog launched in December 2025 after Mamdani won the election to become mayor and is positioned as a way to help implement his socialist agenda. Headlines read, \u201cMaking Mamdani\u2019s Insurance Plan Work,\u201d \u201cWhy New York City Needs Public-Powered Pharmacies,\u201d \u201cThree Things to Avoid When Building Public Grocery Stores\u201d and \u201cTax the Rich.\u201d<\/p>\n

Gross, who has deep ties to the DSA, has publicly praised father of communism Karl Marx, celebrated \u201cKarl Marx Day\u201d and shared passages from the pinko philosopher\u2019s Communist Manifesto. He also raised over $20,000 for Mamdani\u2019s campaign.<\/p>\n

In June 2020, Gross wrote on social media that\u00a0it was \u201cbeautiful\u201d when New Yorkers\u00a0yelled \u201cNYPD suck my d\u2014k\u201d \u2014\u00a0a common refrain heard during the George Floyd riots that summer.<\/p>\n

\u201cI must admit I do believe America is a wicked nation that must be punished for its sins,\u201d\u00a0he wrote\u00a0a few months later.<\/p>\n

Students at Cornell University \u2014 where Bobby Jain sits on the board of trustees and serves as vice chair of the investment committee \u2014 aren\u2019t buying it.<\/p>\n

Earlier this year, the campus group Students for Justice in Palestine shared a video on social media outraged that a man holding the school\u2019s purse strings was invested in companies like Boeing and Caterpillar through his Jain Global.<\/p>\n

One keffiyeh-clad undergrad claimed those companies \u201cmake bombers and bulldozers that murder and displace Palestinians.\u201d<\/p>\n

\u201cWe refuse to let the board of trustees make us complicit in the genocide, oppression and dispossession of people all around the world,\u201d said another student in the video, calling out Jain and two other board members.<\/p>\n

\n<\/div>\n

Meanwhile, when Carola isn\u2019t seated front row at Fashion Week in New York or rubbing shoulders with pop star Lady Gaga, A-list actor Hugh Jackman and performance artist Marina Abramovi\u0107 during Hamptons charity galas, she sits on the advisory board for Peggy Guggenheim\u2019s art collection in Venice.<\/p>\n

She is also a member of the board at Harvard\u2019s Graduate School of Design and is \u201cbuilding a new cultural arts and technology agency to curate, produce and promote NFT art and Web3 cultural experiences,\u201d according to her website.<\/p>\n

The art buff got conned by 2017\u2019s Fyre Festival scandal, the ultra-luxury music festival weekend in the Bahamas pitched to influencers and young professionals, which turned out to be a con and abject disaster.<\/p>\n

Stranded attendees arrived to find no proper food, housing or entertainment. The guy running it, Billy McFarland, had oversold and underdelivered so badly he later went to prison for wire fraud.<\/p>\n

Carola had bought into the scheme early and became an investor, helping arrange millions in funding for the project before she herself was swindled.<\/p>\n

Read more DOJ launches civil rights probe into NYC coffee shop that banned pro-Israel politician<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bobby and Carola Jain, a hedge fund billionaire and his art groupie wife, pump millions into socialist thinktanks to punish landlords and push universal basic income \u2014 from their swanky $30 million Hamptons home and $20 million Upper East Side townhouse. <\/p>\n","protected":false},"author":1,"featured_media":2763,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro"],"yoast_head":"\nMeet the billionaire power couple advocating 'communism for landlords' and a global welfare state \u2014\u00a0from their $30M Hamptons McMansion - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=2764\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet the billionaire power couple advocating 'communism for landlords' and a global welfare state \u2014\u00a0from their $30M Hamptons McMansion - 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