JPMorgan CEO Jamie Dimon recently called New York’s likely next mayor Zohran Mamdani “more of a Marxist than a socialist” — then got on the phone with him for what turned out to be a surprisingly friendly chat, according to a report.
The conversation between Wall Street’s most powerful banker and the 33-year-old Democratic Socialist reportedly took place just a short time after Dimon panned Mamdani’s far-left economic platform last month during a public appearance in Dublin.
Manhattan’s financial elite are grappling with the prospect of dealing with a far-left mayor who has touted proposals including rent freezes, government-owned grocery stores and massive tax hikes on corporations and the wealthy.
Mamdani, who crushed former Gov. Andrew Cuomo in June’s Democratic primary and holds a commanding lead in November polls, has struck fear into the hearts of business leaders as past comments have surfaced about the need to “seize the means of production.”
The Queens lawmaker, who also once touted defunding the police, has spoken before audiences that included Point72 hedge fund chief of staff Michael Sullivan, high-powered lawyer Brad Karp, Brooklyn developer Jed Walentas and 32 Advisors CEO Robert Wolf, among others, Bloomberg News reported.
“The core of my politics is not just sincerity, but also a desire for partnership,” Mamdani said last month before meeting with skeptical business leaders.
The charm offensive comes as Wall Street grapples with the prospect that someone who promises billions in social spending could soon control City Hall.
Mamdani faces incumbent Mayor Eric Adams, Cuomo and Republican Curtis Sliwa in November, but polls show him with a substantial advantage.
Kathy Wylde, CEO of the Partnership for New York City, has reportedly been helping arrange the meetings by providing Mamdani’s campaign with contact information for about a dozen executives.
State Attorney General Letitia James, City Comptroller Brad Lander and former Open Society Foundations President Patrick Gaspard have also organized gatherings, Bloomberg News reported.
A spokesperson for James confirmed Bloomberg’s reporting when reached by The Post.
Business leaders want to know if Mamdani would keep Police Commissioner Jessica Tisch, given his past calls to defund the police.
The candidate has said he’ll consider it but hasn’t committed.
At a meeting tech investor Charles Phillips organized for black executives last month, Mamdani softened his previous comment that billionaires shouldn’t exist and said he doesn’t really believe in defunding the police, according to Phillips.
“He was responsive and listened. In some areas he budged a little bit,” Phillips said.
The executives pressed Mamdani on practical concerns about his rent freeze proposal, warning that landlords facing foreclosure from rising expenses could destabilize the housing market, Bloomberg News reported.
Larger gatherings have also taken place.
About 150 business leaders attended one meeting organized by Wylde’s group, including Centerview Partners’ Blair Effron and Vornado Realty Trust’s Steve Roth, according to the Bloomberg News report.
The next day, roughly 200 tech executives gathered to hear from Mamdani, with Point72’s Sullivan grabbing face time as the session ended.
Many of the city’s business titans are spurning Mamdani’s charm offensive.
Hedge fund billionaire Bill Ackman, who supported Cuomo in the primary, now backs Adams and regularly attacks Mamdani on social media.
Fellow billionaire Dan Loeb complained about the city’s “hot commie summer” after Mamdani’s primary victory.
The Post has sought comment from Mamdani, JPMorgan Chase, Walentas, Karp, Wylde, Lander and Gaspard. A spokesperson for Sullivan declined to comment.
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