Billionaire Michael Bloomberg narrowly won a third term as New York City mayor after a surprisingly tight race with his Democratic challenger.
From: www.msnbc.msn.com
BOSTON - Billionaire Michael Bloomberg won a third term as New York mayor Tuesday in a closer-than-expected race against a Democratic challenger who stoked voter resentment over the way Bloomberg changed term-limits law so he could stay in office.
With 99 percent of precincts reporting, Bloomberg, the richest man in New York and founder of the financial information company Bloomberg LP, defeated William Thompson Jr. 51 percent to 46 percent.
In the days leading up to the election, polls showed Bloomberg with as much as an 18-point lead, an edge so big that critics accused the mayor of overkill in his strategy of bombarding the city with campaign ads.
At a victory rally with supporters, Bloomberg lauded Thompson for running "a spirited campaign."
"We will get our city through these tough times," he promised. "We'll come out stronger than ever."