In a groundbreaking victory, Zohran Mamdani, son of acclaimed filmmaker Mira Nair, has triumphed in the 2025 New York City mayoral elections, making history as the city’s first Muslim mayor. Despite facing considerable pushback from major brands and influencers who distanced themselves from his campaign, Mamdani's determination and vision resonated with the voters. Against all odds, he surged ahead and claimed the mayoral seat, ushering in a new chapter for New York City. Who Is Zohran Mamdani? Net Worth, Age, Family, Education and Key Details About the First Indian-Origin Muslim Mayor of New York City.

However, with Mamdani now having secured victory in the mayoral race, it is only a matter of time before corporate entities begin to leverage his success for commercial gain. Major players in the beauty and fashion sectors have historically capitalised on cultural trends for profit. Notably, just weeks ago, these same sectors attempted to thwart Mamdani's ascendance.

This included significant financial backing from the Estée Lauder family, who invested $2.6 million into initiatives aimed at preventing Mamdani’s electoral success. Estée Lauder, as a dominant force controlling over 25 global beauty brands, represents a substantial influence in the market. In parallel, fashion mogul Michael Kors contributed $50,000 to a pro-Cuomo political action committee.

Moreover, influential figures like Instagram influencer Daniel Bernstein, founder of We Wore What, actively campaigned against Mamdani, showcasing the intertwining of commerce and political ideology. Ultimately, consumer behaviour is inextricably linked to political dynamics; every transaction serves to reinforce specific power structures. The High Price of Luxury: Is Fashion Losing Its Soul?

With Mamdani now the mayor-elect, initial accolades have begun to surface from several business leaders. His progressive agenda—which encompasses policies such as a rent freeze, the establishment of city-owned grocery stores, universal childcare, and a flat 2% tax on millionaires—has raised concerns among certain sectors of Wall Street. The 34-year-old mayor-elect has also expressed views against the existence of billionaires. Zohran Mamdani Marks Historic NYC Win Walking Off to ‘Dhoom Machale’ With His Wife Rama Duwaji, and Mother Mira Nair (Watch Video).

Before the election, several high-profile executives voiced their opposition to Mamdani, backing former Democratic Governor Andrew Cuomo. Wealthy financiers, including Bill Ackman, Mike Bloomberg, and Joe Gebbia, co-founder of Airbnb, invested heavily in pro-Cuomo initiatives. Additionally, Tesla CEO Elon Musk publicly endorsed Cuomo, urging followers to "VOTE CUOMO!"

Nevertheless, not all of Wall Street is aligned against Mamdani. A previous analysis by Business Insider indicated that numerous back-office professionals on Wall Street largely contributed to democratic socialist candidates. Yasser Salem, a former McKinsey executive serving as Mamdani’s advisor, noted that some corporate leaders are receptive to specific aspects of Mamdani's platform, particularly free childcare, as it may alleviate financial burdens placed on their workforce.

(The above story first appeared on LatestLY on Nov 07, 2025 10:30 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).