Zohran Mamdani Net Worth: New York Mayoral candidate lives on rent, has no car. Check how much he earns

New York City mayoral candidate Zohran Mamdani’s net worth stands at approximately $200,000 ( ₹1.71 crore), according to a Forbes report.

This is far less than what Andrew Cuomo, his competitor, is worth, which Forbes pegged at $10 million.

Zohran Mamdani: Net Worth

At an estimated $200,000, Zohran Mamdani’s net worth is relatively modest compared to many political figures, especially those he targets with his policy proposals.

Although Zohran comes from an affluent background, his mother, Mira Nair, is a celebrated filmmaker, and his father, Mahmood Mamdani, is a Columbia academic, he campaigns on tackling wealth disparities head-on.

His advocacy for a $30 ( ₹2500) per hour minimum wage and targeting high-net-worth individuals underscores his authentic commitment to economic equity.

According to a Forbes report, after Zohran became a naturalised US citizen in 2018, he ran for a state assembly seat and won in 2020. The job pays $142,000 annually.

Today, he lives in a $2,250/month rent-stabilised Astoria apartment and doesn’t own a car; he takes the subway to his debate appearances.

In 2024, Zohran reported that he gets $1,000 in rap royalties, including the single “Nani,” which he created using the moniker Young Cardamom.

According to Zohran's financial disclosures in 2023, he acquired four acres of land in Jinja, a region of Uganda bordering Lake Victoria that contains the source of the Nile River, in 2012. He said the land’s value is between $150,000 and $250,000.

However, in a disclosure he filed as a mayoral candidate earlier this year, he said that he acquired the land in 2016 and that it remains vacant and unimproved.

Since New York City disclosures do not require candidates to list cash accounts, Zohran Mamdani may be worth a bit more than the documents show.

If elected, Zohran Mamdani would be the youngest mayor at age 34 and would get a salary bump of $260,000. He would also save on rent by moving into Gracie Mansion, the official mayoral residence on the Upper East Side, and could continue with his car-less lifestyle.

Background and Income Sources

Born in 1991 in Kampala, Uganda, to a Columbia University professor and an acclaimed filmmaker, Zohran Mamdani attended Bank Street, a prestigious Manhattan private school that now costs as much as $66,000 a year for elementary school students.

He then went to the Bronx High School of Science, one of the city’s best public schools, for this graduation.

Zohran studied Africana Studies at Bowdoin College, a private liberal arts school in Maine that is also the alma mater of Netflix’s Reed Hastings and former American Express CEO Ken Chenault.