New York mayoral candidate, State Rep. Zohran Mamdani (D-NY) speaks to supporters during an election night gathering at The Greats of Craft LIC on June 24, 2025 in the Long Island City neighborhood of the Queens borough in New York City. Michael M. Santiago | Getty ImagesTo say Wall Street isn’t a fan of Zohran Mamdani would be an understatement.In fact, high-profile investors and business leaders in the Big Apple are up in arms about the stunning win by the democratic socialist in the primary to win the Democratic nomination to serve as the next New York City mayor. The three-term Assemblymember’s potential victory in the November general election could bring what the Street hates most — tax hikes and tighter regulation threatening corporate and investment interests.Philippe Laffont, founder of hedge fund Coatue Management, told CNBC that a Mamdani win could trigger another exodus of wealthy investors. Since the pandemic, a wave of wealthy residents and institutional firms have fled the nation’s largest city for low-tax states such as Florida and Texas.”Some people are going to, for sure, go,” Laffont said on CNBC’s “Squawk Box” Wednesday after former New York Governor Andrew Cuomo conceded the Democratic nomination. “It’s not quite done yet. There’s still an election. Maybe Cuomo will re-enter as an independent.”Mamdani’s emphasis on socialism and redistribution of wealth runs counter to Wall Street’s preference for unbridled capitalism and policies that support growth, such as deregulation and low taxes. The 33-year-old has supported taxing the ultra-wealthy, financial transactions and passive income like dividends. He has also endorsed a state-level wealth tax and increased marginal income tax rates on high earners.Hedge fund magnate Bill Ackman said he woke …
