How Rich Is Zohran Mamdani? Net Worth And Assets Of New York’s New Mayor

Despite President Donald Trump’s efforts, Democratic socialist and 34-year-old assemblyman Zohran Mamdani won the New York Mayoral elections on Wednesday. He will take office on January 1, 2026, after which his salary will nearly double to about $260,000 as mayor from $142,000 as a state legislator, according to Forbes.

Democrats registered major wins in the November 2025 polls, led by Zohran Mamdani’s historic New York City mayoral victory and key gubernatorial triumphs in New Jersey and Virginia.

Let us look at the net worth and assets of Mamdani

Zohran Mamdani’s primary income has been from his position as state assemblyman from Queens, earning $142,000 ( ₹1.25 crore) in annual income.

According to Forbes, the elected-mayor also earns around $1,000 ( ₹8.8 lakh) annually from music royalties

as he was a rapper between 2015 to roughly around 2019.

He also owns four acres of undeveloped land, of value between $150,000 and $250,000, in Uganda, where he was born and lived his childhood. While filing his disclosure as a mayoral candidate earlier this year, he said he had acquired the land in 2016. However, it remains unclear whether he purchased it or was gifted, inherited or otherwise.

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

Mamdani and his wife live in Columbia-owned housing on the Upper West Side; their three-bedroom apartment was listed for $6,000 rent in 2017, as per StreetEasy.

According to Hindustan Times, Mamdani also owned between $5,000 ( ₹4.4 lakh) and $55,000 ( ₹48.7 lakh) in stock in a company called MiTec. However, the company was dissolved last year and he received half of his initial $10,000 investment back. He also has a small investment of under $2,000 in a retirement plan.