‘Shark Tank’ star and investor Kevin O’Leary explains the place his fears lie if Zohran Mamdani develop into the subsequent mayor of New York Metropolis on ‘Fox Information Reside.’
O’Leary Ventures Chairman and “Shark Tank” co-host and investor Kevin O’Leary directed blistering criticism of New York Metropolis mayoral candidate Zohran Mamdani’s financial insurance policies throughout a latest Fox Information look.
The businessman, showing Friday on Fox Information, stated insurance policies that Mamdani is campaigning for mayor on will trigger cash and enterprise to depart the Large Apple.
Kevin O’Leary, chairman of O’shares ETFs for O’Leary Funds Administration LP, speaks throughout a Senate Banking, Housing, and City Affairs Committee listening to on FTX in Washington, DC, US, on Wednesday, Dec. 14, 2022. (Ting Shen/Bloomberg / Getty Photographs)
“You possibly can’t do that in an setting the place there’s competitors of different states,” O’Leary stated.
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“The cash simply leaves. The tax base leaves. The capital leaves. The developer leaves. The chance capital leaves,” he argued. “And also you’re left with a collapsing setting.”
Mamdani says on his marketing campaign web site that he’ll “decrease prices and make life simpler” in New York Metropolis by way of his insurance policies if elected mayor.
Zohran Mamdani, New York Metropolis mayoral candidate, holds a shaved ice throughout a marketing campaign occasion in New York, US, on Monday, June 23, 2025. (Adam Grey/Bloomberg by way of Getty Photographs / Getty Photographs)
Mamdani has run on a platform that features financial insurance policies aligned with progressives and socialists within the Democratic Get together, similar to a $30 minimal wage, tax hikes on companies and the wealthy and different insurance policies, like creating city-owned grocery shops and imposing a lease freeze for stabilized tenants.
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Amongst different issues, the mayoral candidate has additionally stated he desires to completely do away with metropolis bus fares in addition to make precedence lanes for them and take different steps to make them quicker.
O’Leary, who stated Mamdami has been saying “free all the things” throughout the marketing campaign, argued the candidate “is popping New York into the American nightmare.”
“The cash is available in. It flies proper over New York Metropolis, and it lands some place else,” he stated of the doable influence of Mamdani’s polices on town.
FOX Enterprise reached out to Mamdani’s marketing campaign for remark.
Mamdani, presently a state assemblyman for the thirty sixth District protecting Astoria, Ditmars-Steinway and Astoria Heights in Queens, just lately secured his win within the New York Metropolis Democratic mayoral major.
“I’m humbled by the help of greater than 545,000 New Yorkers in final week’s major,” he stated in a July 1 put up on X. “That is just the start of our increasing coalition to make New York Metropolis inexpensive.”
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Curtis Sliwa obtained the Republican nomination within the metropolis’s mayoral election, based on The New York Instances. A couple of different candidates, together with present Mayor Eric Adams, are additionally operating for mayor.
The solar rises behind the Empire State Constructing as seen from the EdgeNYC commentary deck at Hudson Yards on November 8, 2024, in New York Metropolis. (Gary Hershorn/Getty Photographs / Getty Photographs)
Adams has been town’s mayor since 2022.
The overall election for New York Metropolis’s mayor is slated to happen Nov. 4. Town will probably be holding an early voting interval from Oct. 25 to Nov. 2 forward of that, based on the Board of Elections on the Metropolis of New York web site.
Michael Dorgan contributed to this report.