{"id":6119,"date":"2026-08-04T11:36:05","date_gmt":"2026-08-04T11:36:05","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=6119"},"modified":"2026-08-04T11:36:05","modified_gmt":"2026-08-04T11:36:05","slug":"socialist-mamdani-launches-new-war-on-nyc-business-leaders-kicking-them-off-mayors-fund-that-backs-city-programs","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=6119","title":{"rendered":"Socialist Mamdani launches new war on NYC business leaders — kicking them off mayor’s fund that backs city programs"},"content":{"rendered":"
\n

Mayor Zohran Mamdani has axed the advisors of a major nonprofit that channels private sector donations to fund city initiatives in his latest hostile act toward New York business leaders.<\/p>\n

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Hizzoner thanked the dismissed advisory board members of the Mayor\u2019s Fund to Advance New York City for their service in a letter obtained by Bloomberg News.<\/p>\n

The fund also said in an email that its entire board would be disbanded \u2013 marking the first time in at least three mayoral administrations that all members were let go.<\/p>\n

\u201cI commend you for your dedication and the benefit you have brought to our City as you conclude your tenure on the Mayor\u2019s Fund Board of Advisors,\u201d Mamdani\u2019s letter read in part.<\/p>\n

Among those who received their walking papers from the mayor include Richard Born of BD Hotels, Jeffrey Gural, chairman of GFP Real Estate; Alex Katz, senior managing director at Blackstone Inc.; Edward Skyler, Citigroup Inc.\u2019s head of enterprise services and public affairs; and James Whelan, president of the Real Estate Board of New York.<\/p>\n

The mayor\u2019s office told Bloomberg it would be replacing the released board members later this year.<\/p>\n

\u201cThe creation of a new advisory board is an important next step in reimagining how philanthropy can augment, but not replace, public dollars and public goods, and we are eager to share more about our new board of advisors later this year,\u201d Mamdani senior advisor Dora Pekec told the outlet.<\/p>\n

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The fund, which had $16.4 million cash on hand according to its 2025 tax filing, championed fundraising efforts in part by leveraging relationships with New York\u2019s business community to raise millions of dollars each year.<\/p>\n

It\u2019s raised hundreds of millions since its 1995 inception \u2013 including a staggering $107 million to support family members of rescue workers killed or injured in the Sept. 11, 2001 terror attacks.<\/p>\n

During the darkest days of the COVID-19 pandemic, the fund raised $54.5 million for an emergency relief fund that covered meals and personal protective equipment (PPE) for healthcare workers.<\/p>\n

\n<\/div>\n

But Mamdani started eroding the fund\u2019s lucrative business connections as soon as he took office in April, appointing a former dockworker and a high school teacher to serve on the fund\u2019s board of directors.<\/p>\n

\u201cIn January, our city entered a new era \u2013 one that demands our city government reflect our communities,\u201d Pekec said. \u201cThe building of a new Mayor\u2019s Fund, built on the ethos of putting those directly impacted in the rooms where decisions are made, is a continuation of that work.\u201d<\/p>\n

The move is the continuation of an anti-business throughline in the Mamdani administration, which has repeatedly demonstrated its willingness to spit in the face of big business and wealthy New Yorkers.<\/p>\n

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Mayor Zohran Mamdani has axed the advisors of a major nonprofit that channels private sector donations to fund city initiatives in his latest hostile act toward New York business leaders.<\/p>\n","protected":false},"author":1,"featured_media":6118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro"],"yoast_head":"\nSocialist Mamdani launches new war on NYC business leaders - kicking them off mayor's fund that backs city programs - 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=6119\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Socialist Mamdani launches new war on NYC business leaders - 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