'Their money couldn't buy a movement': Alexandria Ocasio-Cortez taunts Wall Street after triumphing over her billionaire-backed primary opponent

AP Photo/Cliff Owen, File
  • Rep. Alexandria Ocasio-Cortez goaded Wall Street on Wednesday after winning the Democratic primary for New York's 14th Congressional District.
  • Her opponent, Michelle Caruso-Cabrera, received campaign contributions from Goldman Sachs CEO David Solomon, Blackstone CEO Stephen Schwarzman, and several billionaire investors.
  • "There is no price tag for having people who are animated by the courage of their convictions and by a desire for a better world," Ocasio-Cortez said in a victory video. "You cannot purchase that."
  • Visit Business Insider's homepage for more stories.

Rep. Alexandria Ocasio-Cortez taunted Wall Street on Wednesday after comfortably winning the Democratic primary for New York's 14th Congressional District.

The progressive lawmaker's biggest rival was Michelle Caruso-Cabrera, a former CNBC international correspondent whose campaign received donations from several financial titans.

"Wall Street CEOs, from Goldman Sachs to Blackstone, poured in millions to defeat our grassroots campaign tonight," Ocasio-Cortez tweeted. "But their money couldn't buy a movement."Advertisement

The first-term representative, who goes by the nickname AOC, also attached a video in which she rebuked financiers, accused them of trying to buy the election, and praised her supporters for overcoming the threat.

Read more: Aram Green has crushed 99% of his stock-picking peers over the last 5 years. He details his approach for finding hidden gems — and shares 6 underappreciated stocks poised to dominate in the future.

"There is no price tag for having people who are animated by the courage of their convictions and by a desire for a better world," she said. "You cannot purchase that.
Advertisement

"You know, Wall Street just decided to put in millions of dollars in dark money just, like, last minute in this race," she said, adding that if people hadn't volunteered, organized, and phone-banked for her, "that might have meant something."

Blackstone CEO Stephen Schwarzman, Goldman Sachs CEO David Solomon, and billionaire investors including John Paulson, Paul Tudor Jones, Stanley Druckenmiller, and Nelson Peltz all contributed to Caruso-Cabrera's campaign, according to the Federal Election Commission's database. While Caruso-Cabrera had the backing of many Wall Street icons, she raised only about 20% of the money Ocasio-Cortez raised. FEC data shows that she raised just over $2 million, while Ocasio-Cortez secured over $10.5 million in donations during the campaign.Advertisement

Read more: A CEO overseeing $147 million outlines his 4-part strategy for identifying which stocks to buy — and shares 2 he sees primed to explode higher right now

The FEC's data covers the period until the first week of June, so it's possible these totals have changed in recent days.

Ocasio-Cortez, a vocal critic of big business, has called for higher taxes to finance progressive programs such as single-payer healthcare and a shift away from a carbon economy. She has also pushed for tougher regulations on banks, tech titans, and other large companies.Advertisement

The 30-year-old legislator — who won more than 72% of the vote in the primary, according to Decision Desk HQtweeted about Caruso-Cabrera's wealthy backers last week.

"Wall St CEOs & lobbyists are FLOODING my district w/ millions of dollars right before Tuesday's election," she said. "It's a bit flattering, actually: they wouldn't target me if I wasn't effective."

Read more: Morgan Stanley handpicks 10 stocks to buy now for the richest profits as travel and outdoor activities transform in the post-pandemic worldAdvertisement

{{}}