Billionaire hedge-fund manager Bill Ackman urged former New York governor Andrew Cuomo to withdraw from the city’s mayoral race and threw his support behind incumbent Eric Adams. Ackman said his decision came after separate meetings with both men this week, concluding that Adams is "ready to go to battle" while Cuomo is "not up for the fight." The Pershing Square Capital Management founder, who contributed about $500,000 to Cuomo’s failed Democratic primary campaign, argued that consolidating support behind Adams is the best way to counter Democratic-socialist nominee Zohran Mamdani in November. Ackman signaled that “hundreds of millions of dollars” could be marshalled for whichever candidate is best positioned to defeat Mamdani and has already begun rallying former Cuomo donors. SL Green Realty Corp. Chairman Marc Holliday, who gave $100,000 to Cuomo’s political action committee, is organizing a fundraising event for the mayor next week, and other real-estate and Wall Street figures are lining up to assist Adams’s independent bid. The endorsement appeared to shift expectations in political betting markets; Polymarket data showed Adams’s probability of re-election rising to 23% after Ackman’s announcement. Cuomo, who would run on an independent line if he stays in the race, has not yet said whether he will heed the call to step aside.