Washington : Indian-origin Zohran Mamdani has made headlines by winning the mayoral election of New York, USA. He has made history by winning this election, and will take office on January 1st. Meanwhile, a prominent American billionaire has strongly criticized Mamdani and his policies. According to reports, real estate investor Barry Sternlicht has warned that under Zohran Mamdani’s leadership, New York City could turn into Mumbai. Barry Sternlicht is an American investor and real estate developer who is the co-founder, chairman, and CEO of Starwood Capital Group. He founded Starwood Hotels & Resorts and built luxury hotel brands such as W Hotels and 1 Hotels. Sternlicht recently said in an interview with CNBC that his company is considering moving from the New York market following Mamdani’s victory. He said other companies may also move their operations out of the city due to anti-business policies.

“Every project in New York over $100 million requires a deal with the unions, and this is extremely costly. This makes housing in the city extremely expensive. While other developers have tried to make deals with the unions, they still rule New York. This is a major reason why housing is so expensive here,” Barry Sternlicht said in a statement.

Barry further took aim at Mamdani, saying, “And then the far-left get really angry and say tenants don’t have to pay. You can’t evict them if they don’t pay. So someone finds out the neighbor isn’t paying, so they don’t pay, and then a third person doesn’t pay. In this way, New York City will turn into Mumbai.”