New York Mayor-elect Zohran Mamdani has reported a comparatively modest financial profile as he is all set to lead the United States’ largest city, with official disclosures showing limited assets and a simple lifestyle.
The 34-year-old democratic socialist won the New York City mayoral race on Tuesday, capping a meteoric rise from a little-known state lawmaker to one of the country’s most visible Democratic figures.
More than 2 million ballots, including early voting, were cast, according to the board of elections, the most in a mayoral race since 1969. Early vote totals in Virginia and New Jersey also outpaced the previous elections in 2021.
Mamdani will become the first Muslim mayor of the largest US city. He defeated Democratic former Governor Andrew Cuomo, 67, who ran as an independent after losing the nomination to Mamdani in the primary election.
According to his 2025 financial filings, Mamdani — a member of the New York State Assembly representing Queens — earns about $142,000 annually from his legislative role, Forbes reported.
The New York mayor-elect listed just around $1,000 in music royalties from his earlier hip-hop career under the name Mr Cardamom.
Mumdani’s most valuable asset is a four-acre plot of land in Jinja, Uganda, valued between $150,000 and $250,000. According to his filings, the land remains vacant and undeveloped.
He reported no property ownership or vehicle in the United States.
Mamdani lives in a rent-stabilised apartment in Astoria, Queens, where he pays about $2,250 a month, commuting to work via public transport. The disclosures present a striking contrast to the personal wealth of those who ran for New York City mayor, several of whom report significant business and real-estate assets.
Born in Uganda to renowned filmmaker Mira Nair and scholar Mahmood Mamdani, Mamdani moved to the US as a child and was awarded citizenship in 2018.
Unsurprisingly, Mamdani’s campaign was also surrounded by affordability, housing justice, and public transit reform — themes that align closely with his own middle-class financial reality.
