India, Nov. 6 -- There are 125-odd dollar billionaires in New York City, which is arguably the richest city in the world, a citadel of capitalism, and has a GDP of $2.3 trillion that is larger than most nations. Most of these wealthy individuals eagerly waited for Zohran Mamdani, the newly-elected Indian-African-American and socialist Democratic mayor of New York to deliver his first speech after winning a stunning, and not-so-recently seemingly-unbelievable, victory. He is the youngest city's mayor in more than a century, with more than a million votes.

Most of the city's richest were not disappointed with the speech. Or, shall we say, it was what they expected and dreaded. Mamdani, whose mother is the famous Indian film-maker, Mira Nai...