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Mr. Ackman and another hedge fund titan, Daniel S. Loeb, interviewed a potential campaign hire for Mayor Adams, who is courting their financial support.

July 9, 2025Updated 3:49 p.m. ET
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.
Mr. Adams, who is running as an independent, enters the general election contest as a distinct underdog against Zohran Mamdani, the Democratic nominee. The mayor’s approval ratings among New Yorkers are dismal after he faced federal corruption charges and then was accused of striking a deal with the Trump administration in order to get them dropped.
Eugene Noh, the candidate interviewed separately by Mr. Ackman and Mr. Loeb, was announced on Tuesday as Mr. Adams’s new campaign manager, part of a slate of hires. The Daily News reported the news of Mr. Noh’s hiring, but the involvement of Mr. Ackman and Mr. Loeb — who vocally oppose Mr. Mamdani — has not been previously disclosed.
Frank Carone, Mr. Adams’s campaign chairman, confirmed that the mayor’s team had asked the businessmen, and other unnamed supporters, to speak with Mr. Noh in recent days to make sure they were comfortable with him. He stressed that they did not have veto power over the hire.