Report: Mamdani Israel Boycott Could Cost NYC $37 Billion

New York is in uproar over a new warning about Zohran Mamdani’s Israel boycott policy.

According to Israel Hayom, a report by the Anti-Defamation League and JLens says the policy could cost New York City pension funds more than $37 billion over the next decade.

The $37 Billion Warning

The report examined a boycott policy against American companies that operate in Israel.

For the review, researchers compared two investment models. One model kept broad exposure to leading American companies. The second excluded 47 major corporations targeted by the BDS movement.

Those companies included Alphabet, Google’s parent company, Amazon and Microsoft. The list also included other major American firms.

According to the analysis, the restricted portfolio produced lower returns over a decade. Meanwhile, the diversified portfolio performed better.

Pension Funds at Risk

The report estimated that a similar policy could cut about $37.55 billion from New York City pension funds.

That money belongs to hundreds of thousands of workers and retirees.

The warning also comes amid growing backlash in New York. Jewish and pro-Israel activists have already protested Mamdani’s hostile positions on Israel.

The teachers’ pension fund could face the largest hit. According to the report, it could lose more than $15 billion.

In addition, pension funds for city employees, police officers, firefighters and education workers could lose billions.

When Boycotts Backfire

Prof. Joshua Mitts of Columbia University reviewed and approved the report. He is considered an expert in law and financial markets.

For Israel’s supporters, the warning points to a larger truth. Anti-Israel boycotts are often sold as moral gestures. However, in practice, they can punish ordinary workers, retirees and public servants.

Ultimately, the report argues that targeting companies because they do business with Israel could hurt New Yorkers far more than Israel.