Real estate big shot and newspaper publisher Mortimer Zuckerman will not be running for New York Senate as it was originally rumored.
The business tycoon, and editor of the U.S. News and World Report, recently told the Daily News that he didn’t have enough time in the day to devote to Washington and the presumable campaign.
The millionaire republican had been contemplating the idea of possibly running for N.Y Senate this year, but decided better under the pretense of lack of time.
Coincidentally, this announcement was made public a day after candidate-to-be former Tennessee Congressman Harold Ford Jr., declared that he also wouldn’t run for the popular position.
His excuse, however, had nothing to do with time, but with his fear of weakening the Democratic party. The left-wing candidate claimed that he backed away from the candidacy because he was scared to debilitate the democratic bunch with a zesty primary challenge to N.Y. Senator Kirsten Gillibrand.
As of now, the only declared Republican candidate running for the N.Y Senate position is attorney Bruce Blakeman, who is estimating that if he wants to have a decent campaign to compete with, he’ll have to raise anywhere between $15 to $20 million.
Zuckerman wouldn’t have had to worry about that because he is covered in cash. According to Forbes magazine, his bank account (or accounts) hold a whopping $1.5 billion, which is why he was considered a very profitable and attractive possibility for the position by the GOP – because of his ability to afford his own campaign…and quite a good one.
But prior to declaring his plans of not running for the senate position, Zuckerman spoke with his equally rich buddy, business man turned politician Mayor Michael Bloomberg, who warned him that to go from the private business to politics was a rude awakening into media exposure.
Bloomberg, who is estimated by Forbes magazine to have $17.5 billion, stepped down his business position to run for mayor in 2001. And Zuckerman would have probably have had to do the same.
Had the billionaire decided to run for N.Y. senate, he would have had to back away from his media position in order to run for the feisty occupation.
Besides, not everything was expected to go flawlessly for the supposed candidate-to-be. He had quite a few things against him. For starters, Zuckerman’s real estate investments could have made a negative impact on his preciously well-paid political campaign.
His company, Boston Properties Inc., is publicly traded and they also own the General Motors building in Manhattan, for which they paid big bucks – $2.8 billion to be exact.
Plus, Zuckerman is known to regularly (and quite openly) criticize both major political parties, reportedly admitting last month on “The McLaughlin Group” that the nation suffers from the “inability, somehow or other, to fashion policies that are addressing the real problems.”
And with Zuckerman out of the loop for the possible candidacy, the weight now rests on the only declared Republican candidate – Bruce Blakeman.