(Bloomberg) — Philanthropist Elizabeth Simons, daughter of Renaissance Technologies founder James Simons, has emerged as one of the largest financial backers of New York City Democratic mayoral candidate Zohran Mamdani.
Simons donated $250,000 on Aug. 12 to New Yorkers for Lower Costs, a super PAC supporting Mamdani’s candidacy, according to newly released campaign finance records.“The $250,000 gift marks the largest single donation the PAC has received so far.”. In total, the PAC has raised more than $1.8 million from nearly 300 donors.
Mamdani, 33, a democratic socialist representing a Queens Assembly District, stunned New York’s political establishment by defeating former Gov. Andrew Cuomo in the Democratic primary by 12 points. Nearly every pre-election poll had projected a Cuomo victory, backed by a well-funded super PAC, Fix the City, which raised more than $25 million from wealthy New Yorkers, including contributions from former Mayor Michael Bloomberg. Cuomo, who resigned as governor in 2021 amid sexual harassment allegations he denies, is now running as an independent in November, alongside current Mayor Eric Adams.
While Mamdani’s campaign leaned heavily on grassroots support — more than 20,000 small donors helped him maximize New York City’s $8-to-$1 public matching program — Simons’ donation underscores that some wealthy progressives are also embracing his candidacy. Simons, president of the Heising-Simons Foundation, is a longtime supporter of Democratic and progressive causes. Over the years, she has given millions to major party committees and left-leaning candidates, establishing herself as a prominent figure in liberal philanthropy. Since 2017, she has given more than $19 million to federal candidates and committees, including $5.2 million to House Majority PAC and $4.2 million to Senate Majority PAC.
She has also previously donated to progressive New York candidates, including Tiffany Cabán in 2021, and to the state’s Working Families Party. Simons followed her PAC donation with a $2,100 personal contribution — the maximum allowed under New York’s matching system — directly to Mamdani’s campaign account just two days after his primary victory.
Mamdani has drawn celebrity support from actress Cynthia Nixon, model Emily Ratajkowski, and actor Kal Penn, but his policy platform — including raising taxes on corporations and high earners to fund universal childcare and free bus service — has rattled New York’s donor class. In June, he said in an NBC interview: “I don’t think we should have billionaires,” though he has since softened that stance.
A spokesperson for the Heising-Simons Foundation declined to comment on the donation.
