‘It’s officially hot commie summer’: Wall Street melts down on social media over Zohran Mamdani’s NYC primary win

As Zohran Mamdani declared victory in the New York City Democratic mayoral primary on Tuesday night, one had to wonder: Has anyone checked on the finance bros?

On X, the Wall Street meltdown was already well underway. “It appears that NYC is electing to commit suicide by Mayor,” wrote Jim Bianco, president of Bianco Research. “It’s officially hot commie summer,” added Dan Loeb, CEO of hedge fund Third Point and longtime Cuomo backer.

Loeb wasn’t alone. Billionaires like Michael Bloomberg and Bill Ackman had backed Andrew Cuomo, still seen as the frontrunner even in the race’s final days. “Bill Ackman drafting his thoughts on Mamdani rn,” one post joked, alongside an image of an essay-length text being written. “Another great part of Mamdani’s victory is that it means Michael Bloomberg pretty much lit over $8 million on fire for no reason lol,” another X user wrote.

The finance industry’s reaction isn’t surprising. A Mamdani win in November’s general election could bring what Wall Street dreads most: tax hikes and tighter regulations threatening corporate and investment interests—fueling the familiar cry of a wealthy exodus. “Wealthy New Yorkers moving to Miami if Zohran wins,” one Instagram meme joked.

Let’s not forget the finance bro who did vote for Mamdani (starter pack includes a Carhartt beanie and a copy of The Communist Manifesto). “NYC girls with trust funds were calling him ‘Zaddy Zohran’ and you thought he was going to lose?” one user posted on X.

One post, acknowledging defeat, featured an AI-generated image of fleece-clad finance bros scanning groceries at a city-run market: “Well boys, onto the new bullpen.”

Another post on X perfectly summed up the general mood: “Investment bankers reacting to NYC nominating a socialist for Mayor.” The accompanying caption? “we’d all be fine with a lot less, right?”

https://www.fastcompany.com/91359431/wall-street-melts-down-zohran-mamdani-nyc-primary-win?partner=rss&utm_source=rss&utm_medium=feed&utm_campaign=rss+fastcompany&utm_content=rss