Zohran Mamdani, the NYC mayor-elect to take office on January 1, 2026. All about his salary and net worth. Photo: X.
Zohran Mamdani, the New York City mayor-elect elect recently met US President Donald Trump at the White House. The meeting was framed as a major political confrontation, but ultimately turned into what observers described as an unexpectedly cordial exchange.
Mamdani has been elected as the 111th mayor of New York City. At 34, the Queens state lawmaker becomes the youngest person to lead the city in a century, as well as New York’s first Muslim mayor and the first mayor of Indian origin.
Mamdani, a Democrat, won the mayoral race with more than 50 per cent of the vote. Former New York Governor Andrew Cuomo received over 41 per cent, while Republican Curtis Sliwa garnered 7 per cent. Mamdani will officially assume office on January 1, 2026.
In his election night address, Mamdani referred to himself as a Democratic socialist and sharply criticised Trump, calling him “a despot.” He also invoked Jawaharlal Nehru’s iconic “Tryst with Destiny” speech delivered on the eve of India’s independence in 1947.
“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,” he said. As he concluded, the 2004 Bollywood song “Dhoom Machale” played in the background.
Mamdani is the son of Indian filmmaker Mira Nair and Columbia University professor Mahmood Mamdani. Born and raised in Kampala, Uganda, he moved to New York City with his family at the age of seven and became a naturalised US citizen in 2018.
According to Forbes, Mamdani’s primary source of income until now has been his role as a state assemblyman from Queens, for which he earns $142,000 (₹1.25 crore) annually. Between 2015 and approximately 2019, he worked as a rapper and continues to receive about $1,000 (₹88,000) a year in music royalties.
He also owns four acres of undeveloped land in Uganda, valued at around $250,000 (₹22 lakh). Mamdani previously held between $5,000 (₹4.4 lakh) and $55,000 (₹48.7 lakh) in stock in a company named MiTec. After the company’s dissolution last year, he recovered half of his initial $10,000 investment. He additionally holds less than $2,000 in a retirement account.
Forbes estimates his current net worth at roughly $200,000 (₹1.77 crore). Mamdani lives in a rent-stabilised apartment costing $2,250 (₹2 lakh) per month and does not own a car.
Once sworn in on January 1, 2026, Mamdani’s annual salary will rise to approximately $260,000 as New York’s mayor.
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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