Zohran Mamdani's net worth: A look at New York's youngest mayor's assets, earnings
Zohran Mamdani's primary income, till recently, has been his position as a state assemblyman from Queens, where he earns $142,000 ( ₹1.25 cr) in annual income.
Zohran Mamdani has been elected as the 111th mayor of New York in a historic victory, which has not only evoked reactions in the US but also drawn global attention. The 34-year-old state lawmaker from Queens is now the youngest person to hold the New York mayoral office in a century. He is also New York’s first Muslim mayor and first person of Indian-origin to lead The Big Apple.
Mamdani, a Democrat, received over 50 per cent of the votes, while former Governor Andrew Cuomo got over 41 per cent votes and Republican Curtis Sliwa 7 per cent votes.
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The young mayor, who will be sworn in on January 1, 2026, receives annual compensation for serving as a state legislator, owns some land and also receives a meagre amount from music royalties.
Mamdani's stunning victory and India link
Zohran Mamdani is the son of Indian filmmaker Mira Nair and Columbia University professor Mahmood Mamdani.
Mamdani was born and raised in Kampala, Uganda and moved to New York City with his family when he was seven. He became a naturalised US citizen in 2018.
After successfully contesting the NYC mayoral polls, Mamdani made a victory speech where he lashed out at Trump's policies and quoted India’s first prime minister Jawaharlal Nehru’s famous ‘Tryst with Destiny’ speech.
"A moment comes, but rarely in history, when we step out from the old to the new, when an age ends, and when the soul of a nation, long suppressed, finds utterance. Tonight, we have stepped out from the old into the new,” Mamdani said, recalling Nehru's speech delivered on the eve of India’s independence in 1947.
As he concluded his speech, the famous 2004 Bollywood track "Dhoom Machale..." played in the background.
What is Zohran Mamdani's net worth?
Zohran Mamdani's primary income till recently has been his position as a state assemblyman from Queens, where he earns $142,000 ( ₹1.25 crore) in annual income.
The newly-elected mayor also earns around $1,000 ( ₹88,000) annually from music royalties as he was a rapper between 2015 to roughly around 2019, according to Forbes.
Also Read: 'Oh my god': How the internet reacted to Zohran Mamdani's ‘Dhoom Machale’ moment
He also owned 4 acres of undeveloped land in Uganda, where he was born and lived his childhood. The land is currently estimated to be around $250,000 ( ₹22 lakh).
In addition to annual income and property, 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 has also made a small investment of under $2,000 in a retirement plan.
According to Forbes estimates, Mamdani has a net worth of around $200,000 ( ₹1.77 crore). He lives in a $2,250 ( ₹2 lakh) per month rent-stabilised apartment and doesn’t own a car.
Once he takes office on January 1, 2026, Mamdani’s salary will increase to about $260,000 as New York mayor.
