November 5, 2025 | 04:30 pm
TEMPO.CO, Jakarta - Elected as New York City’s first Muslim mayor, Zohran Mamdani embodies a striking contrast to the wealth-laden political elite he triumphed over. Despite orchestrating a remarkable victory over high-profile rivals, Zohran Mamdani’s net worth remains relatively modest, estimated at around $200,000 —a fraction of the fortunes amassed by his rivals.
As he clinched victory over former New York governor Andrew Cuomo, democrat Mamdani was caught challenging the U.S. President: "Donald Trump, since I know you’re watching, I have four words for you: turn the volume up."
Now stepping into his role as the newly elected mayor of America’s largest metropolis, curiosity swirls around Zohran Mandani’s net worth and the remarkable path that propelled him to win in one of the nation’s fiercest political arenas.
What is Zohran Mamdani’s Net Worth?
As the least wealthy mayoral candidate, Zohran Mamdani’s net worth stays at $200,000 or a mere sliver compared to Cuomo’s reported $10 million fortune, according to Forbes analysts.
By political standards, Zohran Mamdani’s wealth may seem unremarkable, yet one asset stands out: Four acres of family-inherited land in Jinja, Uganda, estimated to be worth between $150,000 and $250,000. Perched near the storied source of the Nile River, the land remains vacant and undeveloped, inherited through family ties and standing as Mamdani’s sole notable asset.
Beyond that, his disclosures paint a picture of frugality rather than affluence. Mamdani reported less than $5,000 in savings and roughly $1,000 in royalties from his earlier days as part of the Ugandan rap duo Young Cardamom & HAB, best known for their 2016 hit 1 Minute to Pray.
Notably, New York City’s disclosure rules don’t require candidates to declare cash accounts, meaning Zohran Mamdani’s actual net worth could be slightly higher. Moreover, since his marriage to a Syrian-born artist occurred after the filing deadline, any shared assets are likely to surface only in next year’s reports.
Zohran Mamdani is “a tenant and transit rider”
Unlike many of his affluent opponents, Zohran Mamdani owns no property in New York City. Instead, he lives in a modest, rent-stabilized, one-bedroom apartment in Astoria with his wife. The couple pays about $2,250 a month for the apartment.
His lifestyle mirrors his political message, often described as grounded, relatable, and deliberately distant from the trappings of wealth that often define the city’s political elite.
Rather than shy away from his limited means, Mamdani has made it a cornerstone of his public persona. He proudly refers to himself as "a tenant and transit rider," using his own experiences to underscore the struggles of ordinary New Yorkers navigating rising costs and shrinking opportunities.
Supporters argue that his unpolished authenticity and his experience of living paycheck to paycheck, similar to that of many of his constituents, is precisely what allows him to bridge the widening gap between politics and the people it’s meant to serve.
What is Zohran Mamdani’s Salary?
In 2020, he secured a decisive victory against a five-term incumbent to claim a seat in the New York State Assembly. Representing Astoria, Queens, Mamdani has since drawn an annual salary of approximately $142,000, as cited in Marca.
When he assumes the office of New York City mayor on January 1, 2026, his earnings are expected to nearly double to around $260,000 a year.
In addition, relocating to Gracie Mansion, the city’s official mayoral residence, will likely reduce his living expenses, further strengthening Zohran Mamdani’s modest net worth, which currently rests primarily on inherited land in Uganda.
Although Zohran Mamdani's net worth may soon rise, his authenticity and down-to-earth lifestyle remain at the heart of his appeal. This sets him apart in an era when wealth often overshadows values.
Curious how Mamdani’s finances compare to the broader population? Read the coverage of the average net worth by age in America to see where everyday citizens stand on the nation’s wealth spectrum.
Editor's Choice: Who is Zohran Mamdani, and How Does He Stand Out in New York Politics?
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