Zohran Mamdani, a Democratic socialist, won New York City's mayoral primary, worrying the wealthy.

Zohran Mamdani, a 33-year-old Democratic socialist, won the New York City mayoral primary, causing concern among wealthy residents over his proposed policies, such as a 2% tax on high earners and rent freezes. Some high-end buyers are delaying purchases or considering leaving the city. Mamdani’s win has also sparked hope among progressives in California, suggesting a potential shift towards more left-leaning politics.