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The billionaire’s choice

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The stench of desperation doesn’t get much more rank than just delegating the details of your campaign to Bill Ackman:

As Mayor Eric Adams of New York City searched for a new campaign manager, he asked his leading candidate to sit for private interviews with two crusading hedge fund titans he wants to bankroll his re-election effort.

The billionaire financiers, Bill Ackman and Daniel S. Loeb, had both met separately with Mr. Adams as they weighed potential large contributions. But the mayor’s decision to give them a say in who he hired to run his campaign illustrates the remarkable lengths he is willing to go to secure their support.

Mr. Ackman and Mr. Loeb have collectively given millions of dollars to Democratic and Republican candidates over the years and could meaningfully boost the mayor’s flagging candidacy if they were to cut large checks to a pro-Adams super PAC.

Given Ackman’s close connection with the pulse of the typical New York City voter, this might be almost as effective as Elon Musk’s intervention in Wisconsin.

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