Wall Street Decries ‘Hot Commie Summer’ After Mamdani Shock (2)

Even Zohran Mamdani’s detractors recognize that the vibes are with the 33-year-old democratic socialist.

“It’s officially hot commie summer,” hedge fund billionaire Dan Loeb said on X, after Mamdani shocked the Democratic establishment by crushing Andrew Cuomo in the party’s primary for the New York City mayoral race.

It’s a quip that masks the deep anxiety among the city’s elite that a Mamdani win in the general election in November would lead to higher taxes and a subsequent exodus of wealthy residents from the five boroughs.

Kathy Wylde, a New York power broker who’s connected ...