Democratic Socialist candidate Zohran Mamdani has made history by being elected as the new Mayor of New York, achieving victory despite fierce opposition from over two dozen US billionaires, including President Donald Trump and Elon Musk. However, the most compelling part of his story is the nature of his personal assets, which positions him as an ordinary citizen contrasting sharply with America’s wealthiest political class.
A recent report published by Forbes Africa revealed that the 34-year-old Zohran Mamdani is a person of extremely modest financial means.
Financial Profile Snapshot:
- Personal Wealth: Mayor Mamdani possesses no major real estate or personal vehicle. He relies on public transportation for travel.
- Residence: He currently resides in a rented apartment in the Astoria neighborhood of Queens County, New York City, paying a monthly rent of $2,250.
- Supplemental Income: Mamdani maintains a hip-hop career under the pseudonym “Mr. Cardamom,” from which he receives approximately $1,000 annually in music royalties.
His salary will see a significant boost in his new role, as the New York Mayor’s annual salary will increase to $260,000 starting January 1, 2026, up from his previous salary of $142,000 as a New York State Assembly Member. Should he choose to relocate to Gracie Mansion, the official mayoral residence, he will also save his monthly apartment rent.
Zohran Mamdani was born in Kampala, Uganda, in 1991. His father, Mahmood Mamdani, is an Indian-origin scholar, and his mother is the renowned filmmaker Mira Nair. His family relocated to New York when he was just seven years old, following his father’s employment at Columbia University.
Despite claims by figures like Trump that citizens will abandon New York after Mamdani’s election, Mamdani’s background and his commitment to an unpretentious lifestyle are key reasons behind his extraordinary support among New York’s working class and ordinary citizens.
