Zohran Mamdani’s 2025 net worth may surprise you — the socialist mayor of New York owns no luxury condos, drives no car, and lives in a rent-stabilized Queens apartment. Here’s how his modest six-figure fortune redefines power in America’s richest city.

In a city built on Wall Street wealth, New York’s new mayor, Zohran Mamdani, stands apart for what he doesn’t have. According to filings with the New York City Campaign Finance Board, the 34-year-old Democratic Socialist reported total assets worth between $150,000 and $250,000 — a figure that includes an undeveloped parcel of land in Jinja, Uganda, gifted by a relative.

That alone would make him one of the least-wealthy mayors in modern city history. Yet it’s exactly that financial modesty that turned Mamdani’s campaign into a movement. His 2024 legislative salary of $142,000, rent-stabilized Astoria apartment, and reliance on the subway have become emblems of his authenticity — proof that his politics of equality aren’t just rhetoric, but lived reality.

The Jinja property — roughly four acres overlooking Lake Victoria — accounts for most of his wealth. Gifted by an uncle around 2012–2016, it’s valued at up to $250,000 but generates no income. Analysts note the land is non-liquid, meaning its symbolic worth far exceeds its financial utility.

For three terms in the New York State Assembly, Mamdani earned $142,000 per year — a decent wage, but hardly extravagant in the nation’s most expensive housing market. After taxes and rent, his lifestyle remains middle-class by New York standards.

Few realize that before politics, Mamdani recorded hip-hop tracks under the name Mr. Cardamom. His 2024 disclosures show under $1,000 in residual music royalties. He also once invested about $10,000 in a social-enterprise start-up called MiTec. The company dissolved, and he reportedly recouped roughly half his stake.

These modest streams reinforce a rare picture in modern politics — a mayor whose wealth stems not from boardrooms or real estate, but from public service.

When Mamdani pledged to raise taxes on income over $1 million, critics dismissed it as class warfare. But his finances tell another story. His low six-figure net worth makes him the inverse of the city’s elite — a man governing Wall Street’s skyline from a one-bedroom apartment.

He still rides the N train, pays $2,300 in monthly rent, and has been photographed commuting without security. In a political landscape dominated by millionaires, Mamdani’s day-to-day reality mirrors that of the voters who put him there.

Under New York City law, elected officials must publicly declare their assets, income, and liabilities. Mamdani’s consistent financial disclosures — from his Assembly tenure through his mayoral campaign — have reinforced his credibility and commitment to transparency.

Opponents, including former governor Andrew Cuomo, tried to weaponize his modest lifestyle, suggesting that a rent-stabilized mayor lacked “executive seriousness.” The attack backfired. For millions of renters, Mamdani’s story became proof that the city’s housing laws can still protect ordinary people — and that one of their own could lead City Hall without compromising integrity.

In a metropolis where luxury penthouses trade for $250 million, Mamdani’s financial humility is a cultural earthquake. His victory challenges the assumption that wealth equals leadership. Managing a $115 billion city budget while personally worth under $250 K makes him an anomaly — and, to many, an inspiration.

His story also highlights the broader shift reshaping U.S. politics: voters rewarding authenticity over affluence. The real question