Zohran Mamdani's net worth, Indian connection: Everything about NYC mayor-elect
What's the story
Democrat Zohran Mamdani was elected as the next Mayor of New York City on Thursday. At 34, he is also the youngest person to hold this position in over a century. Mamdani defeated Republican Curtis Sliwa and independent candidate Andrew Cuomo in the race. His estimated net worth stands at $200,000 (approximately ₹1.71 crore) as of 2025, according to Forbes. After he takes office, his salary will increase to $260,000 per year, and he will move into Gracie Mansion.
Financial details
Mamdani's assets and income
Mamdani's declared assets include four acres of land in Jinja, Uganda, valued between $150,000 and $250,000. He lives in a rent-stabilized apartment in Astoria, a neighborhood in New York City, for about $2,250 per month. He reportedly does not own a car and usually travels by subway. His current income is from his role as a state assembly member, which pays him $142,000 annually. In 2024, he also declared $1,000 in royalties from his brief rap career as Mr Cardamom.
Family ties
Mamdani comes from a well-off family
Born in Kampala, Uganda, Mamdani is the son of Columbia University professor Mahmood Mamdani, who was born in Mumbai, and Mira Nair, the Indian American filmmaker behind iconic films like Salaam Bombay!, Monsoon Wedding, and The Namesake. The New York Post, as well as conservative commentators Laura Loomer and Meghan McCain, claim that Mamdani's parents are worth $2 million to $10 million and that he is too privileged to talk about Socialism.
Wedding
Nehru's speech
Mamdani has always been proud of his Indian heritage. Following his historic triumph, Mamdani delivered a speech inspired by Jawaharlal Nehru's renowned "Tryst with Destiny" speech, given on the eve of India's independence in 1947. "Standing before you, I think of the words of Jawaharlal Nehru. 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," Mamdani said.
Songs
Dhoom Machale played
As the speech came to a close, the Bollywood song Dhoom Machale started to play. With the song playing in the background, Mamdani waved to his supporters before walking to his wife, Rama Duwaji, for a hug. His parents later joined him. "I am proud that I would be the first Indian-American mayor....I'm proud that my mother's family is Hindu. And while I am Muslim, I grew up with a keen understanding of what Hinduism means," he said earlier.