- Catsimatidis vs. Sliwa: NYC billionaire John Catsimatidis (grocery magnate and WABC radio owner) publicly urged Republican Curtis Sliwa to drop out of the mayoral race. Catsimatidis said “Curtis should pull out right now” and warned “we cannot take a chance on Zohran [Mamdani] winning” [1]. He argued that splitting the anti-socialist vote by staying in would hand a victory to the Democratic Socialist nominee.
- Polls and Odds: Recent polls and betting markets show Democratic nominee Zohran Mamdani with a commanding lead. A Fox News poll (Oct. 10–14) found Mamdani at ~52% among likely voters, Andrew Cuomo at 28%, and Sliwa at 14% [2]. Online betting markets (Polymarket) give Mamdani roughly a 93% chance of winning [3]. Observers note that if Sliwa were to withdraw and endorse Cuomo, Mamdani’s lead would shrink but he would likely still win (Mamdani 50% vs Cuomo 37% without Sliwa [4]).
- Sliwa’s Response: Curtis Sliwa flatly refused to quit. At a press conference he accused “billionaires” of interfering and said he “trust[s] the people” to decide. He insisted he has campaign momentum (“11 headquarters… volunteers everywhere” [5]) and will stay in to the end [6] [7]. Mamdani, surprisingly, agreed with Sliwa that “billionaires shouldn’t control the future of this city” and said voters — not wealthy donors — should pick the mayor [8].
- Expert Analysis: Political analysts warn that Sliwa’s candidacy could split opposition votes. Professor J.C. Polanco (Mount Saint Vincent) noted every new poll matters now, and argued that if Sliwa were to step aside and endorse Cuomo, “you can get such a percentage… to make this a closer race” [9]. In the U.K., politics professor Mark Shanahan told Newsweek that “this is certainly Mamdani’s race to lose” – New York is a heavily Democratic city, and voters tired of “elite politics” have shown little appetite for Cuomo’s return [10].
- Bill Ackman’s Frugality: Separately, billionaire hedge-fund manager Bill Ackman made headlines with his personal spending habits. In an interview he told The Wall Street Journal: “I don’t like wasting money” – he even parks farther away to save on fees and checks lights (he “turn[s] off every light” at home) [11] [12]. Ackman (worth ~$8.4 billion) says this stems from lessons learned in childhood. His stance echoes Warren Buffett (who still lives modestly in his Omaha home) and tech billionaire Lucy Guo (who says “I don’t like wasting money” despite her wealth) [13]. In fact, Scale AI cofounder Guo still drives a beat-up Honda and clips coupons, advising “act broke, stay rich.”
- Market Snapshot: Amid these headlines, U.S. stocks continued to rally on strong earnings. As of Oct. 21, major indexes were near record highs (the S&P 500 around 6,747; the Nasdaq 100 near 25,177; Dow Jones ~46,770) [14]. Tech and consumer stocks led the gains. General Motors surged nearly 8% after beating Q3 forecasts and raising guidance [15], and Apple (AAPL) just hit new highs on robust iPhone 17 sales [16]. TS2.Tech notes pre-market moves with GM up ~8%, Coca-Cola +2%, GE Aerospace raising its outlook, and Philip Morris +5% [17]. Overall the S&P and Nasdaq rose about 1%, buoyed by these tech/productivity boosts [18].
- Analyst Outlook: Wall Street remains largely optimistic. For example, Goldman Sachs and Wells Fargo both raised Apple price targets to ~$279–$290 on strong device demand [19]. In semiconductors, TS2 reports that AMD’s stock has exploded (~+80% YTD to ~$238) after mega AI deals with OpenAI and Oracle [20]. Bank of America and Jefferies hiked AMD’s 12-month targets to ~$300 [21], though TS2 warns that at roughly 40× expected 2026 earnings the stock “leaves little room for error” if growth slows [22]. Overall, many strategists say investors should stay offensive in the current market rally [23], focusing on high-growth tech plays until after Thanksgiving.
Catsimatidis vs. Sliwa: Divided GOP in NYC
John Catsimatidis (often described as a “grocery and radio magnate” [24]) has been a longtime supporter of conservative causes. In recent days he threw his weight behind a unified effort to defeat Mamdani by clearing the Republican field. Catsimatidis – who employs Sliwa as a radio host on his WABC station – told reporters that Sliwa should “love New York more than anything else” and drop his mayoral bid to boost Cuomo’s chances [25] [26]. Catsimatidis claimed New Yorkers would view Sliwa as a hero for “doing the right thing” by quitting [27].
This intervention quickly sparked pushback. Curtis Sliwa denounced “billionaires” like Catsimatidis and Ackman, saying they “paved the way for Zohran Mamdani” and know nothing of city streets [28]. Sliwa vowed “I’m not dropping out” and insisted voters should decide, not wealthy outsiders [29] [30]. Zohran Mamdani joined Sliwa in condemning the billionaire pressure, calling it “positive for our democracy” that voters get to choose freely [31].
Election Forecast: Mamdani Still Favored
Experts say Mamdani remains in the driver’s seat. An AARP/Gotham poll (Oct. 16) found Mamdani leading by 14 points with all three in, and the Fox poll confirms he is above 50% in a two-way race [32] [33]. Professor Polanco noted that if Sliwa formally backs Cuomo, some of Sliwa’s voters could swing to Cuomo, tightening the race [34]. But Shanahan points out two realities favor Mamdani: New York City’s heavily Democratic electorate (Sliwa “isn’t going to win”) and a strong anti-establishment mood among voters tired of Cuomo’s brand [35]. Notably, prominent left-leaning figures (AOC, Bernie Sanders) have endorsed Mamdani, and he would be the city’s first Muslim mayor if elected [36].
In short, unless the GOP consolidates behind Cuomo, Mamdani is widely expected to prevail. As Professor Shanahan put it, Mamdani’s lead is “certainly his race to lose” – though he cautions that campaigns can change dynamics quickly [37]. For now, the Cuomo camp has urged Sliwa to withdraw in what one spokesman calls an effort to “save the city” from socialism [38]. But Sliwa shows no sign of flinching. Final forecasts will depend on turnout and how the last two weeks of campaigning play out.
Bill Ackman’s Money Mantra
Meanwhile, hedge-fund billionaire Bill Ackman grabbed headlines in a very different way – by airing his unglamorous money habits. In an interview with the Wall Street Journal, Ackman (59) said he inherited a frugal streak from his family. “Dad was very big on not wasting things,” he explained, and he still applies that daily: “If I left my light on… he’d get really upset. Now I go around the house turning off every light” [39]. Ackman recounted hunting for bargains wherever possible – even driving from parking garage to parking garage to find the cheapest option, despite having once owned a parking business himself [40]. He added, “it really upsets me if the gas grill was running over the weekend… I really don’t like wasting money” [41].
This down-to-earth confession is notable given Ackman’s $8.4 billion fortune. It puts him in a club with Warren Buffett – who famously still lives in the same modest Omaha home and prefers McDonald’s – and tech entrepreneur Lucy Guo (who still drives a Honda Civic and uses fast-fashion brands) [42]. Guo herself told Fortune earlier this year: “Who you see… wasting money on designer clothes, a nice car… they feel a little bit insecure, so they feel the need to be flashy” [43]. Ackman’s remarks got wide social-media buzz, especially in contrast to other billionaires’ lavish lifestyles. In economic terms, Ackman’s thrift highlights concerns about inflation and spending: even Wall Street’s richest are bristling at waste.
Market Update & Analyst Views
Investors have been cheerfully looking past political dramas. U.S. equities are enjoying a broad rally. On Oct. 21 the S&P 500 and Nasdaq climbed to fresh records [44] [45]. A surge in tech demand is the main driver: TS2.Tech notes that Apple shares hit record highs on strong iPhone 17 sales [46], while the Philadelphia Semiconductor Index is up ~32% YTD [47]. The AI craze has propelled chipmakers too – AMD stock is up about 80% this year [48] – and NVIDIA remains dominant with ~90% of the AI GPU market [49].
Corporate earnings are fueling the rally. In pre-market trading on Oct. 21, General Motors jumped nearly 8% after beating earnings and raising its 2025 outlook on strong truck sales [50]. Coca-Cola and Philip Morris also beat forecasts (lifting KO +2%, PM +5% in pre-market) [51]. Overall, U.S. stock futures were up, and by mid-morning the S&P 500 was roughly 1% higher on the day [52]. Stock Market Live reports it’s “another day of higher highs” with the S&P 500 around 6,747 and Nasdaq 100 near 25,177 [53]. JPMorgan and others comment that optimism about Fed policy (a “neutral” rate by 2026) and positive earnings have investors on offense [54] [55].
Market strategists are largely upbeat. Goldman Sachs raised its Apple price target to $279 and Wells Fargo to $290, expecting strong iPhone demand into 2026 [56]. In semiconductors, TS2 notes that AMD’s recent AI partnerships (6 GW GPU supply deal with OpenAI, 50k GPU Oracle order) could add over $100 billion revenue over four years [57]. Bank of America and Jefferies have boosted AMD’s 12-month target to ~$300 [58]. But TS2 warns that AMD now trades at ~40× next-year earnings, a richer valuation than even NVIDIA, so “the stock leaves little room for error” if growth misses projections [59].
Bottom Line: Billionaires are in the headlines this week for very different reasons. Catsimatidis’s intervention intensifies the crunch in the NYC mayoral contest – most signs still point to Mamdani winning, but the late-stage drama keeps the outcome uncertain [60] [61]. Ackman’s personal-finance admission has sparked a conversation about elite spending habits amid economic unease [62] [63]. Meanwhile, financial markets remain buoyant: strong earnings and tech leadership are pushing major indexes higher [64] [65]. With two weeks to go until Election Day, all eyes will be on polls, rallies and analyst forecasts. Investors and voters alike are weighing expert opinions – whether from political scientists or Wall Street strategists – to predict where things are headed next [66] [67].
Sources: CBS New York [68] [69]; Fox News [70] [71]; Newsweek [72]; TS2.tech (Stock Market Today) [73] [74]; Wall Street Journal (via inkl) [75] [76]; Fortune (via inkl) [77] [78]; 247wallst.com [79] [80]; ABC7/WABC [81].
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