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Forbes Daily: Food Stamp Benefits In Limbo For 42 Million Americans

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As New Yorkers head to the polls tomorrow, at least 26 billionaires have tried to stop frontrunner Zohran Mamdani from helming America’s largest city. But two have actually backed his run.

Mamdani, a self-described democratic socialist who says billionaires should not exist, has nonetheless received contributions from Elizabeth Simons, daughter of the late hedge fund billionaire Jim Simons, and GitHub cofounder Tom Preston-Werner. Both wrote checks to the primary independent group backing Mamdani’s campaign, New Yorkers For Lower Costs, representing about 10% of the money the group has taken in.

But of course, the forces against the Democratic candidate are stronger, with a Forbes analysis revealing billionaires have spent more than $22 million opposing Mamdani’s rise.

Food stamp benefits ran dry for roughly 42 million Americans, and President Donald Trump said he has instructed White House lawyers to ask courts for more clarity on how his administration can legally fund the Supplemental Nutritional Assistance Program “as soon as possible.” Two judges ordered the use of emergency funds to continue funding the program during the shutdown, though the Trump Administration has argued the Agriculture Department lacks the legal authority to do so.

In a 60 Minutes interview that aired Sunday, Trump said he will allow Nvidia and Beijing to make deals on AI chips, but will not allow Nvidia’s most advanced semiconductors to be sold to China, a comment that comes days after he signaled willingness to discuss export controls on Nvidia’s flagship Blackwell chips. Nvidia’s shares rose 1.4% in premarket trading early on Monday, after becoming the first company to surpass a $5 trillion market cap last week.

The Trump Administration has halted nearly all of the Consumer Financial Protection Bureau’s activity, a regulatory rollback........

© Forbes