Wednesday, November 5

Headlines



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Mamdani will be NYC’s next mayor after big night for Democrats. The Associated Press called the race for Zohran Mamdani, a self-described democratic socialist, at 9:34pm ET. The 34-year-old received 50.4% of the votes with 91% of ballots counted, beating former NY Gov. Andrew Cuomo (who ran as an independent), who received 41.6% of the vote, and Republican Curtis Sliwa, who received 7.1% When sworn in on Jan. 1, Mamdani will become the city’s first Muslim mayor. He’ll also be the first person of South Asian descent to lead the city. Democrats won the other major contests around the country, including for the governorships of Virginia and New Jersey. In California, the Proposition 50 redistricting measure, put forward in response to Texas’s midcycle redistricting, passed handily. In remarks after its passage, CA Gov. Gavin Newsom reflected on Democrats’ success, saying, “Tonight, after poking the bear, this bear roared.”—HVL



Dick Cheney died at 84. The cause of death was complications of pneumonia and cardiac and vascular disease, according to a statement from his family. Perhaps the most powerful and polarizing US vice president in history, Cheney was considered the architect of the US’ response to 9/11 and the chief strategist of the “war on terror” under President George W. Bush. He pushed for the US to invade Iraq based on false claims that Saddam Hussein’s regime possessed weapons of mass destruction, infamously predicting that American troops “will be greeted as liberators.” He wielded far more influence than typical vice presidents, reportedly striking an unspoken deal with Bush that in exchange for quelling his desire to be president himself, he’d get to shape the administration’s policies. Following Jan. 6, 2021, Cheney and his daughter, former Republican Rep. Liz Cheney, became vocal critics of fellow Republican President Trump.—AE

Major Tesla shareholder will vote against Musk’s $1 trillion pay package. Elon may not be booking any vacations to Oslo any time soon. Norway’s sovereign wealth fund—one of Tesla’s biggest investors—announced it will vote against the Tesla CEO’s proposed $1 trillion stock award at the company’s annual meeting tomorrow. “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk,” the fund said in a statement. Musk has threatened to leave the company if shareholders do not approve the compensation, which will only be awarded if Tesla hits certain goals over the next decade. Proxy advisors Institutional Shareholder Services and Glass Lewis have also urged investors to reject the package, prompting Musk to label them as “corporate terrorists” on a call with analysts last month.—AE

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