Billionaire Illinois Gov. J.B. Pritzker has responded to fellow Democrat and New York City mayoral candidate Zohran Mamdani’s assertion that billionaires should not exist.
“How much money you have doesn’t determine what your values are,” Pritzker said in an interview with NBC’s Meet the Press on Sunday. “I’m a Democrat because I believe that we’ve got to stand up for our democracy and against the MAGA Republicans who are literally trying to take away people’s rights all across this country.”
Pritzker has an estimated net worth of $3.7 billion, according to Forbes, in part due to his family’s ownership of the Hyatt Hotel chain.
The governor’s remarks came in response to a statement made by self-proclaimed Democratic-Socialist Mamdani—who won the New York City Democratic primary last month—who said: “I don’t think we should have billionaires.”
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“Frankly, it is so much money in a moment of such inequality, and ultimately, what we need more of is equality across our city and across our state and across our country,” he told the same show, Meet the Press, in late June, when he already appeared to have the votes to win the primary.
“And I look forward to working with everyone, including billionaires, to make a city that is fair for all of them,” he added.
Both Priztker and Mamdani are seen as rising stars of the Democratic Party, but on opposite ends of the spectrum. Mamdani’s victory in the financial capital of the world was seen as a galvanizing moment for the progressive wing of the party and a sign of an insurgent mood among its base. Pritzker, meanwhile, is often spoken of as a potential 2028 presidential contender if the Democrats opt to appeal to moderate voters.
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Mamdani’s concerns are not his alone. Income inequality has been on the rise in the U.S. for decades. The top 1% percent in the U.S. hold more than two-thirds of the nation’s wealth, while the least-wealthy 50% of Americans have less than 4%, according to the Center on Budget and Policy Priorities. Wealth inequality and affordability were major voting factors during the 2024 presidential election, as many voters cited concerns about rising cost-of-living and inflation rates.
The 60-year-old Priztker, however, asserted that his politics are shaped by his belief in Americans’ right to health care and free public education.
Pritzker announced his re-election bid for governor this June.