The incoming NYC mayor has raised more than $3 million from nearly 30,000 contributors, from crypto billionaires to small-dollar donors.
New York City Mayor-elect Zohran Mamdani is balancing a wide political spectrum as he works to fund his transition into office, turning to both working-class supporters and some of the city’s wealthiest power players.
On Tuesday night, Mamdani attended a sold-out West Village fundraiser hosted by a trio of high-profile backers: a cryptocurrency billionaire, a Qualcomm heir, and one of George Soros’s sons. The next morning, he was in TriBeCa, where an oil-fortune heiress and a major crypto advocate hosted another private event.
And next week, Mamdani will appear at a celebrity-packed Lower East Side reception featuring Julianne Moore, Mark Ruffalo, Ramy Youssef, Tituss Burgess, and his mother, acclaimed director Mira Nair. Entry starts at $1,000.
A Progressive Mayor Turning to Big Donors
Mamdani, a democratic socialist who campaigned on confronting oligarchic power and lowering costs for New Yorkers, now faces the financial realities of assembling a governing team. His transition requires significant resources, and with limited public support, fundraising has become essential.
According to his transition team, Mamdani has raised over $3 million so far from nearly 30,000 contributors. Donations range from small grassroots gifts to the maximum $3,700 checks from wealthier allies.
His target: $4 million, twice what his two most recent predecessors raised.
A Large, Ambitious Transition Operation
Transition funds pay for staffing, policy preparation, and the massive task of sorting through thousands of résumés as the mayor-elect prepares to lead the largest city in the United States.
Aside from receiving a small office near City Hall, the transition team gets little public support, making private fundraising crucial for building an administration before the Jan. 1 inauguration.
Mamdani’s transition staff is believed to be larger and more complex than those of past mayors, reflecting both the scale of his vision and the organizational burden that comes with it.
Balancing Ideals and Logistics
Mamdani’s outreach to wealthy donors has raised eyebrows among some critics, given his alignment with democratic socialism. But his team argues that the donor pool, rich and working-class alike, shares a common ideological support for his platform.
The blend of cryptocurrency moguls, heirs of historic fortunes, Hollywood figures, and everyday New Yorkers reflects the diverse coalition that propelled Mamdani to office, and now, the one helping him prepare to govern.
