Big salary, elite roots — So why does Zohran Mamdani declare just Rs 2 Lakh in net worth?

Indian Express

3 days ago

Despite his upbringing among film royalty, red-carpet premieres, and elite private schools, New York City mayoral candidate Zohran Mamdani claims to have less than 1.66 lakh ($2,000) to his name.
The 33-year-old Democratic Socialist assemblyman, who recently announced his bid for mayor, made the disclosure in state ethics filings reviewed by the New York Post. This, despite pulling in a 1.09 crore ($131,000) taxpayer-funded salary and being the only child of internationally acclaimed filmmaker Mira Nair and Columbia University professor Mahmood Mamdani.
While Mamdani has long embraced his image as a champion of the working class, even calling himself a 'nepo baby' in interviews, the gap between his declared finances and privileged background has sparked new questions ahead of his mayoral run.
According to the Post, Mamdani reported no US-based property, investments, or significant savings but only a retirement fund with less than $2,000 from a 2019 nonprofit job and a sum of up to 4.15 lakh ($5,000) in music royalties from his past life as a rapper, 'Mr. Cardamom.'
His only significant asset: four acres of land in Uganda, valued between 1.25 crore to 2.08 crore ($150,000 and $250,000), acquired roughly a decade ago.
As per critics, the disclosures don't add up. 'More drama from a guy who grew up with three silver spoons in his mouth,' political strategist Hank Sheinkopf told the Post. 'If anybody believes Mamdani is a poor person, they need to see a psychiatrist.'
The son of two global intellectuals, Mamdani grew up in a Columbia University-owned apartment overlooking Riverside Drive, an Ivy League-subsidised property where his father, a tenured professor, continues to live. His mother, Mira Nair, is best known for directing Monsoon Wedding and Disney's Queen of Katwe. The family's former Chelsea condo sold for $1.45 million in 2019, the Post reported.
As a child, Mamdani attended the elite Bank Street School, where tuition now exceeds 55 lakh per year ($66,000). He later walked red carpets with his parents and contributed music to his mother's films, including a soundtrack slot on Queen of Katwe.
Still, since entering politics, Mamdani has worked hard to distance himself from his privileged roots. He now lives in a rent-stabilised Queens apartment and has leaned into grassroots activism, championing causes like tenant protections, police abolition, and public power.
But some say he's blurring the line between authenticity and performance. 'Everything about him feels curated — even the 'eating with hands' video felt like an act,' said Renu Mukherjee of the Manhattan Institute, referring to a resurfaced video where Mamdani awkwardly tries to eat with his hands for the camera. 'He looks like a perpetual theatre kid pretending to be 'Third World.''
His office declined to comment on the Post report or clarify whether he holds any additional assets via family trusts or accounts outside the US Notably, New York's ethics forms don't require disclosure of personal bank accounts or non-US financial holdings, a gap some watchdogs say could allow candidates to obscure wealth.
Sheinkopf was blunt: 'This guy's no regular New Yorker. He's about as close to the average person as Nelson Rockefeller was.'