Pro-Eric Adams Political Action Committee Secures $750,000 Financial Backing
In the upcoming mayoral general election in November, New York City is experiencing a more active political landscape than usual, with more than half a dozen independent expenditure committees forming. One such committee, Empower NYC, is providing substantial financial backing to Mayor Eric Adams' reelection campaign.
The key donors supporting Empower NYC include Scott Lynn, founder and CEO of Masterworks.io, and Jean Marc-Chapus, co-founder of investment firm Crescent Capital. Scott Lynn donated $500,000, while Jean Marc-Chapus donated $250,000 through a trust called Etoiles Trust, which had previously given $50,000 to Empower NYC.
Empower NYC, founded by Abe George, aims to raise $15 million and has already raised over $1 million, including significant contributions from the crypto industry, with efforts to attract more donors ongoing. George stated that the PAC is attracting support because it plans to operate like a full campaign, identifying Adams' voters and using a comprehensive field strategy to get those voters to the polls.
Eric Lerner, a lawyer, is also involved in the PAC's operations, working to attract donors from the cryptocurrency industry. A real estate agent and reality TV personality, Eleonora Srugo, recently formed a pro-Adams PAC.
The lack of agreement among anti-Mamdani forces on the best way to defeat Democratic nominee Zohran Mamdani is suggested by the throng of PACs spending in the race. Some of these committees have registered to spend against Mamdani, while others have formed to spend in support of candidates running against him, including Adams and ex-Gov. Andrew Cuomo.
However, Adams and Cuomo themselves can't agree. Despite Cuomo's initial support for Adams, their relationship has soured, with Cuomo recently endorsing Mamdani. This division among the anti-Mamdani forces may complicate their efforts to unseat the Democratic nominee.
Empower NYC's recent $750,000 haul includes two large donations: $500,000 from Scott Lynn and $250,000 from Jean Marc-Chapus. The PAC, which initially raised $425,000 in the spring, continues to attract support and aims to reach its goal of $15 million.
[1] Source: New York Post, "Empower NYC PAC raises $1 million for Eric Adams' re-election bid", link [2] Source: Crain's New York Business, "Eric Adams' re-election campaign gets $500,000 from Masterworks CEO Scott Lynn", link [3] Source: Gotham Gazette, "Eric Adams' re-election campaign denied public matching funds", link
- The politics surrounding the upcoming mayoral election in New York City has seen the formation of multiple independent expenditure committees, such as Empower NYC, which are taking active roles in campaign financing, with key donors like Scott Lynn and Jean Marc-Chapus contributing significant amounts.
- As the general news continues to cover the numerous PACs engaged in the race, Empower NYC, with its aim to raise $15 million, stands out for its comprehensive strategy in identifying voters and attracting donors from sectors like the crypto industry, as demonstrated by its recent $750,000 haul from contributors like Scott Lynn and Jean Marc-Chapus.
