Mamdani's Business Council Is Taking Shape With 5 Big Names. Some CEOs Reportedly Said No

August 11, 2026 - 03:27

The business council being assembled by Mamdani is starting to take a clear shape, with five prominent figures now reported to be on board. The group includes Chobani founder Hamdi Ulukaya and AlleyCorp founder Kevin Ryan, both of whom bring significant entrepreneurial weight. They are joined by three veterans from the finance world, though their names have not been officially confirmed yet.

According to sources familiar with the planning, the council is meant to serve as a sounding board for strategic decisions, particularly around economic policy and private sector engagement. Ulukaya, known for his outspoken views on refugee hiring and corporate responsibility, and Ryan, a serial tech investor, would add a distinctly non-Wall Street perspective to the mix.

But the process has not been entirely smooth. Several high-profile CEOs were approached and reportedly declined the invitation. The reasons vary, with some citing scheduling conflicts and others expressing reluctance to be publicly tied to the initiative at this stage. One source said the refusals were not personal but reflected a cautious mood among corporate leaders who are wary of being drawn into political crossfire.

Despite those early rejections, the council is expected to be fully formed within the next few weeks. Organizers say the current mix of finance and operating experience is intentional, designed to give Mamdani a broad range of advice rather than a single industry echo chamber. The five names, once officially announced, will likely be seen as a signal of whether the council can attract more mainstream corporate support or remain a smaller, more selective group.