Summary
- Zohran Mamdani raised over $1 million between July and mid-August.
- His funds nearly double those of nearest rivals.
- Raised $1.05 million vs. Cuomo's $507,000 and Adams' $425,000.
- The majority of donations are small-dollar and grassroots supporters.
The Democratic socialist, who defeated former state governor Andrew Cuomo to win the Democratic party nomination in June, earned $1,051,200, according to the New York City campaign finance board on Saturday. The average donation from both in-state and out-of-state donors was $121.
With a $646 contribution size, Cuomo raised $541,301. With an average gift of $770, the current mayor, Eric Adams, who was running as an independent, raised $425,181. Curtis Sliwa, the Republican candidate, raised $407, 332.
Mamdani has a polling edge that reflects its dominance in fundraising. He was 19 points ahead of his closest opponent, Cuomo, who is also running as an independent, according to a Siena survey last week. Decision Desk HQ's 12-poll average has Mamdani 13 points ahead of Cuomo.
Mamdani has continuously outperformed his opponents in terms of fundraising.
He has suggested free childcare and buses, city-run grocery stores, rent freezes on nearly a million rent-stabilized apartments in the city, and higher taxes on Columbia and New York University to support city colleges and trade schools.
He instructed his main campaign team to encourage supporters to concentrate on volunteering in March after requesting that his grassroots supporters cease making donations. He has $4.4 million in campaign finances on hand, and an additional $2.2 million in matching public monies are available to his campaign.
It was disclosed last week that Elizabeth Simons, the daughter of the late hedge fund billionaire Jamie Simons, had donated $250,000 to a political action committee on behalf of the anti-billionaire candidate.
As a result of Adams' violations of related regulations, the local campaign finance board has prohibited him from collecting matching campaign funds. Cuomo has $1.2 million available and has started moving funds from a $7.5 million state campaign account to his city campaign account. Cuomo is expected to receive roughly $400,000 in public dollars.
Next month, there will probably be further pressure on Adams and Sliwa, the two front-runners, to withdraw from the race, but both have stated that they are unwilling to do so.
Following the indictment of Ingrid Lewis-Martin, a close aide, for allegedly operating a political favors system that included collecting seafood and an acting part opposite Forest Whitaker, Adams reiterated his reluctance to pull out last week.
Cuomo said on Friday that “a lot is going to happen” between now and the November vote.
“I don’t think the public even knows who the assemblyman is, what he represents, what his positions are. So I think the more they find out about him, the less they’re going to like him, and … his appeal is going to drop dramatically.”
Mamdani, meanwhile, has accused Cuomo of lying about his coordination with Trump and says the former governor, who bitterly clashed with Trump while in office, is now seeking the president’s help.
“It’s par for the course for Andrew Cuomo,”
Mamdani said on Tuesday.
How much of Mamdani’s total is eligible for NYC public matching funds?
Zohran Mamdani’s campaign expects about $280,000 of the more than $1 million raised between early July and mid-August 2025 to be eligible for New York City’s 8-to-1 public matching funds program. This would translate into more than $2 million in matching funds for his campaign this cycle.
Only donations from city residents of up to $250 are matchable, and the city Campaign Finance Board makes the final determination on awarding matching funds. The matching funds program is designed to amplify grassroots contributions and support candidates with broad local backing.
Mamdani’s total fundraising combined with the anticipated matching funds significantly boosts his financial position as he heads into the crucial final stretch before the November mayoral election.