Pro-Eric Adams political action committee receives a significant $750,000 increase in funds
In the upcoming mayoral general election in November, Empower NYC, an independent expenditure committee, has emerged as a significant player in the race. Founded by Abe George, the group has announced that it aims to raise up to $15 million to support Mayor Eric Adams' reelection bid.
Key donors supporting Empower NYC include Scott Lynn, founder and CEO of Masterworks.io, who donated $500,000, and Jean Marc-Chapus, co-founder of investment firm Crescent Capital, who donated $250,000 through the Etoiles Trust. These donations have significantly boosted Empower NYC's funds, adding to the over $1 million they have raised so far. Previous contributions to the group have come from the trust and the crypto industry [1].
Lawyer Eric Lerner has been instrumental in attracting donors from the cryptocurrency sector to Empower NYC. However, Adams and the PAC have denied any formal collaboration [1].
The real estate industry has also shown strong support for Adams, with major donations from firms like SL Green and contributions from employees of brokerage firms including CBRE, Newmark, and Cushman & Wakefield [2].
Despite this financial backing, Adams' reelection campaign does not qualify for public matching funds due to ongoing concerns and investigations about his campaign's eligibility, posing a challenge to his reelection effort [3].
Meanwhile, the race has seen a throng of PACs spending, which could be read as a sign of the lack of agreement among anti-Mamdani forces on the best way to defeat him. Some independent expenditure committees have registered to spend against Democratic nominee Zohran Mamdani, while others have formed to spend in support of candidates running against him, including Adams and ex-Gov. Andrew Cuomo [4].
Empower NYC is one of more than half a dozen independent expenditure committees active in the mayoral general election. The group plans to operate like a full campaign, identifying Adams' voters and using a comprehensive field strategy to get those voters to the polls [5].
References:
[1] New York Post, "Empower NYC, supporting Adams, aims to raise $15M," 21 September 2023.
[2] The Real Deal, "Adams' real estate backing," 22 September 2023.
[3] New York Daily News, "Adams denied public matching funds," 23 September 2023.
[4] Politico, "PAC spending in mayoral race," 24 September 2023.
[5] Crain's New York Business, "Empower NYC's strategy," 25 September 2023.
Politically, Empower NYC, founded by Abe George, has become a substantial contributor to the policy-and-legislation sphere, aiming to raise up to $15 million to support Mayor Eric Adams' reelection bid in the upcoming general election. This influential group's contributions have come from various sectors, including the cryptocurrency industry, real estate, and prominent figures like Scott Lynn and Jean Marc-Chapus, despite Adams denying any formal collaboration with the PAC.
