Heavyweights of the financial world spent millions to elevate other candidates in the New York City mayoral race.

As Wall Street faces the prospect of left-wing firebrand Zohran Mamdani becoming the city’s next mayor, a fast-growing business hub down south is beckoning.

NEW YORK >> Wall Street is on edge heading into the New York City mayoral election on Tuesday, with a potential victory for Zohran Mamdani set to reverberate through the heart of global capitalism, where financiers worry about the city’s lasting competitiveness and appeal.

Wall Street leaders and billionaires spent big to defeat democratic socialist Zohran Mamdani in New York City's mayoral race. Now they have to figure out how to work with him.

Johnson Associate predicted chunkier pay-outs last year after the US economy began to roar back into life after three years of COVID-inspired, debt-laden economic malaise

Democrat Zohran Mamdani has been elected mayor of New York City, defeating fellow Democrat Andrew Cuomo and Republican candidate Curtis Sliwa in a closely watched three-way race. Mamdani, a state assembly member representing Queens, secured a decisive victory built on promises of affordable housing, labor rights and expanded social programs.

Major financial services firms such as Goldman Sachs, JPMorgan Chase, and Wells Fargo have expanded operations in Dallas, Texas, where the firms have thousands of workers.