Key Takeaways
- • Pershing Square Capital Management founder Bill Ackman said the Democratic Party is in the worst condition in its 250-year history, calling it "crazy, radicalized, anti-American" in a Tuesday episode of "The Katie Miller Podcast."
- • Ackman described likely 2028 presidential contenders Illinois Gov. JB Pritzker and California Gov. Gavin Newsom as "disasters" and said he cannot identify a candidate who would earn his vote in 2028.
- • Ackman criticized Senate Minority Leader Chuck Schumer for compromising his values to keep his job, and questioned Democratic support for Michigan Senate candidate Abdul El-Sayed.
- • Ackman said he registered as a Democrat only to vote in a New York City primary and described himself as a longtime centrist rather than a lifelong Democrat.
- • Ackman has also criticized New York City Mayor Zohran Mamdani's policies, including a rent freeze on nearly 1 million apartments and a proposed pied-à-terre tax.
Summary
Billionaire hedge fund manager Bill Ackman said the Democratic Party is in the worst shape it has been in during the country's 250-year history, according to remarks made on a Tuesday episode of "The Katie Miller Podcast" reported by the New York Post. Ackman acknowledged that some Democratic members of Congress are impressive but argued that the party as a whole has fallen into disarray, describing it as "crazy, radicalized, anti-American."
Ackman directed much of his criticism at Democratic politicians he said have bent to more extreme elements of the party. He singled out New York Senator Chuck Schumer, the Democratic minority leader, whom he said he once respected but who he believes is now "just trying to keep his job." He also referenced Michigan Senate candidate Abdul El-Sayed, a far-left Democrat whose Republican opponent, Mike Rogers, has sought to link him to the Muslim Brotherhood. El-Sayed has denounced the group, though a social-media post from his half-sister said his biological mother was an activist for the organization, according to the New York Post.
On the 2028 presidential field, Ackman said he has many Democratic friends, including New Jersey Senator Cory Booker, but did not see a viable presidential candidate, specifically naming Pritzker and Newsom as "disasters." During the interview, Ackman also corrected host Katie Miller's characterization of him as a "lifelong Democrat," saying he had been a centrist and independent who registered as a Democrat to vote in a New York City primary.
Ackman has a long record of donating to prominent Democrats, including former President Barack Obama. More recently, he donated to GOP-backed PACs and supported former Governor Andrew Cuomo's unsuccessful bid against New York City Mayor Zohran Mamdani. Ackman initially congratulated Mamdani on his victory but later described the mayor's policies as "very bad for New York," criticizing a rent freeze affecting nearly 1 million apartments and warning that Mamdani's pied-à-terre tax push could drive investors and business leaders out of the city.
Ackman directed much of his criticism at Democratic politicians he said have bent to more extreme elements of the party. He singled out New York Senator Chuck Schumer, the Democratic minority leader, whom he said he once respected but who he believes is now "just trying to keep his job." He also referenced Michigan Senate candidate Abdul El-Sayed, a far-left Democrat whose Republican opponent, Mike Rogers, has sought to link him to the Muslim Brotherhood. El-Sayed has denounced the group, though a social-media post from his half-sister said his biological mother was an activist for the organization, according to the New York Post.
On the 2028 presidential field, Ackman said he has many Democratic friends, including New Jersey Senator Cory Booker, but did not see a viable presidential candidate, specifically naming Pritzker and Newsom as "disasters." During the interview, Ackman also corrected host Katie Miller's characterization of him as a "lifelong Democrat," saying he had been a centrist and independent who registered as a Democrat to vote in a New York City primary.
Ackman has a long record of donating to prominent Democrats, including former President Barack Obama. More recently, he donated to GOP-backed PACs and supported former Governor Andrew Cuomo's unsuccessful bid against New York City Mayor Zohran Mamdani. Ackman initially congratulated Mamdani on his victory but later described the mayor's policies as "very bad for New York," criticizing a rent freeze affecting nearly 1 million apartments and warning that Mamdani's pied-à-terre tax push could drive investors and business leaders out of the city.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.