(NewsNation) — Billionaires on Wall Street are coming to terms with Mayor-elect Zohran Mamdani's victory in New York City after spending millions trying to block his run, all while dealing with a shutdown-induced data blackout.

Mamdani — a self-described democratic socialist who criticized wealth hoarding, promised to hike taxes on high earners and pushed for rent freezes — defeated Republican Curtis Sliwa and independent Andrew Cuomo with 50.6% of Tuesday's vote.

Now, hedge fund manager Bill Ackman, former Mayor Mike Bloomberg and other New York City elites are facing a new political reality — one that involves cooperating with their new mayor-elect.

".@ZohranKMamdani, congrats on the win. Now you have a big responsibility. If I can help NYC, just let me know what I can do," Ackman pos

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