Smear Campaign?
Bill Ackman Slams Curtis Sliwa, Claims He's Only Staying in The NY Mayoral Race For Money
Billionaire investor Bill Ackman ignites a political firestorm, accusing GOP mayoral hopeful Curtis Sliwa of clinging to his campaign to pocket millions in taxpayer-funded matching grants. The explosive claims, naming Sliwa’s wife and friends as campaign payroll beneficiaries, fuel growing pressure for him to drop out before the race reshapes New York City’s political future.
Bill Ackman, billionaire hedge fund manager and CEO of Pershing Square Capital Management, has publicly accused Curtis Sliwa, the Republican nominee in the 2025 New York City mayoral race, of refusing to drop out primarily to continue benefiting from taxpayer-funded campaign contributions. According to Ackman, who posted these claims on X (formerly Twitter) today, Sliwa has received about $5 million in public matching funds through the city's campaign finance program, which matches small donations from NYC residents at an 8-to-1 ratio.
Ackman cited a "highly credible" source who knows Sliwa well, alleging that Sliwa's wife, friends, and associates are on the campaign payroll and "enjoying living off the city taxpayers who are funding his race and lifestyle."
He further claimed Sliwa "doesn't want to end his campaign and have to return the funds," describing the situation as "hearsay" but urging Sliwa to correct the record if inaccurate, while adding "Follow the money."
This allegation builds on Ackman's earlier pressure on Sliwa to exit the race, which he first amplified around October 18, 2025, warning that Sliwa's continued candidacy could split votes and hand the election to Zohran Mamdani, a democratic socialist and Queens assemblyman seen as a progressive frontrunner.
Ackman has argued that with former New York Governor Andrew Cuomo entering as an independent, Sliwa's presence gives Mamdani a "90% chance" of winning, potentially leading to policies Ackman views as detrimental to the city. Other prominent figures, including billionaire real estate developer John Catsimatidis (Sliwa's boss at WABC radio), have echoed this call for Sliwa to withdraw, citing similar vote-splitting concerns.
Sliwa, founder of the Guardian Angels and a 2021 mayoral candidate who garnered about 28% of the vote, has repeatedly refused to drop out despite mounting pressure, including from within Republican circles and a reported 10-day deadline from allies of President Trump earlier in September 2025.
He has positioned himself as a law-and-order candidate critical of incumbent Eric Adams (who dropped out amid scandals) and has raked in over $3.4 million in campaign funds as of early September.
Sliwa has not yet publicly responded to Ackman's latest financial gain allegations as of October 22, but he has previously dismissed similar pressures as "billionaire election interference," forming an unlikely alignment with Mamdani in criticizing big-money influence in the race.