In a surprising political twist, Gov. Kathy Hochul’s recent endorsement of Zohran Mamdani for mayor of New York City has ignited a surge of support for Rep. Elise Stefanik, a Republican eyeing a run for governor, as the New York Post reports.
This unexpected development has shifted millions in donations and backing toward Stefanik, as moderates and even Democratic donors seek a counterbalance to Mamdani’s progressive policies, while Hochul’s move appears to have backfired.
The story began when Hochul publicly endorsed Mamdani, a progressive candidate currently leading in mayoral polls by 21 points over his closest rival, former Gov. Andrew Cuomo. Her support was announced in a New York Times essay on Sunday, following private conversations with top donors. Some donors, however, were caught off guard by the enthusiastic tone of her backing.
A real estate developer, who spoke on condition of anonymity, noted that Hochul had justified her decision as a way to influence Mamdani to soften his stances by aligning with him. However, the developer criticized the endorsement as lacking substance, describing it as “completely milquetoast” for failing to challenge Mamdani’s agenda.
Stephen Prince, CEO of TFG Asset Management and a former Democratic donor, also slammed Hochul’s decision. He called it a display of “the highest level of political cynicism” and accused her of frequently changing positions throughout her tenure as governor.
Prince further argued that Hochul would not be able to temper Mamdani’s influence, stating, “She isn’t going to provide a check on Mamdani … he has already flipped the power dynamic and he’s not even mayor yet.”
While Hochul’s endorsement aimed to bolster Mamdani, it has instead fueled a financial and political wave for Stefanik. Insider sources report that since Sunday, millions in donation pledges have poured into Stefanik’s Elevate PAC, which has supported her past congressional campaigns. A source close to Stefanik told NYNext, “We have hundreds of thousands of donations coming in and millions more pledged for when she formally enters the race for governor.”
Remarkably, much of this financial support is reportedly coming from Democrat-leaning donors. These contributors, along with moderates, appear motivated by a desire to counter Mamdani’s radical proposals, such as higher taxes on the wealthy, which would be enacted at the state level.
Stefanik has not yet confirmed her candidacy for governor, though she is widely expected to announce after the mayoral election in November. A GOP pollster, speaking on background, described the excitement surrounding her potential run, noting that supporters from grassroots to major finance and real estate figures are eagerly organizing events and outreach.
The pollster added that Stefanik’s donor network is unmatched, with many seeking direct contact with her senior staff to pledge support. “It’s a frenzy, where friend groups are organizing events or Zoom calls in the future and telling Elise that they are all in, should she decide to run,” the pollster said.
Public sentiment also seems to be shifting, particularly among certain communities. Irit Tratt, a Republican bundler and member of the Republican Jewish Coalition’s national board, highlighted growing GOP support among Jewish New Yorkers, many of whom are backing Stefanik to avoid relocating out of state. Tratt stated, “I don’t want to move to Florida.”
Tratt also compared the current political climate to 2022, when Republican Lee Zeldin nearly won the gubernatorial race. “New York is in a worse position now than when Lee Zeldin ran, and he came close,” she remarked.
Meanwhile, Hochul’s team has remained silent since the endorsement, with her spokesperson declining to comment on the backlash. Some speculate that her support for Mamdani was a strategic move to avoid a primary challenge from Lt. Gov. Antonio Delgado on her left. However, recent events suggest her greater threat may come from the right.
A recent Siena Poll shows Hochul leading Stefanik 52% to 27% in a hypothetical gubernatorial matchup, but donors anticipate this gap will close once Stefanik officially enters the race. Prince, now a vocal Stefanik supporter, believes her appeal will grow, saying, “Elise is a compelling candidate some New Yorkers don’t yet know.”
He added, “Moderate Democrats and Republicans who haven’t engaged with her yet will be excited once they get to know her.” As the political landscape continues to evolve, Hochul’s endorsement may have unintentionally set the stage for a highly competitive gubernatorial race, with Stefanik emerging as a formidable contender.
