Left-wing candidate Zohran Mamdani raised far more money in recent months than his rival contenders for New York City mayor, while Eric Adams had a decent showing after being forced to resume fundraising, according to the latest disclosures filed Wednesday.
Meanwhile, the fund that Adams created to cover his legal defense costs is now about $736,000 in debt, with $1.8 million in donations but $2.6 million in expenses, according to a separate Wednesday disclosure. Between October and Dec. 31, Adams’ fund received just $2,200 in donations from two donors and reported nearly $874,000 in expenses, mainly in attorneys’ fees to the firm WilmerHale and a $200,000 advance retainer to Quinn Emanuel, another firm representing him.
The mayoral candidates’ latest hauls, which will eventually be multiplied through the city’s generous matching funds system, provide more evidence that the Democratic primary will be highly competitive. Adams had previously stopped actively fundraising but began soliciting donations again in December, around the time the city’s Campaign Finance Board denied him some $4 million in matching funds for irregularities and allegedly illegal donations.
The latest fundraising period ran from Oct. 8 to Jan. 11. Each candidate’s totals, as reported by the Campaign Finance Board, were as follows:
Zohran Mamdani, Queens state assemblyman: $641,815Whitney Tilson, former hedge fund executive: $424,968Eric Adams, mayor: $271,291Brad Lander, city comptroller: $221,599Scott Stringer, former city comptroller: $197,428Zellnor Myrie, Brooklyn state senator: $183,640Michael Blake, former Bronx state assemblyman: $146,084Jessica Ramos, Queens state senator: $107,619
Adams, who has been fundraising for years, has still raised the most total money: $4.4 million. But Lander’s campaign said it expects to lead the field with $5.4 million in the bank once matching funds are applied next month to his most recent fundraising haul. (The city program provides an 8-to-1 match for all donations by New York City residents who contribute up to $250.)
Thus far, only Lander and Stringer have received matching funds, although other candidates expect to qualify for subsequent payments. Adams’ ultimate fate on that front is unclear — the CFB did not rule him permanently ineligible, and his attorneys are asking the board to make him eligible for future payments. But there has not been any sign that regulators will reverse their decision, which was based on his campaign’s failure to provide requested information and the allegations in Adams’ indictment that he had defrauded the matching funds program through bogus straw donations.
Vito Pitta, counsel for Adams’ re-election campaign, said in a statement that it expects its fundraising total to “grow significantly in the near future.” He called the campaign “well-positioned” to eventually raise the maximum $7.9 million it can legally spend before the June 24 primary.
Mamdani, a socialist from Astoria, entered the mayoral race in October and is running a populist campaign that includes a promise to freeze rent increases for stabilized tenants. His campaign said its recent haul came from 6,502 unique donors, with a median donation of $50.
“We knew there was a hunger for a different kind of politics but this is beyond even our highest expectations,” Mamdani said in a statement. “Our thousands of donors have launched us and our vision for a more affordable city into the top tier of this race.”
Who donated to whom?
Among the standout names from the latest round of donations:
Adams continued to receive support from the real estate community, including $2,100 each from developers Ben Ashkenazy and Morris Betesh. Jonathan Schwartz, a partner in the hospitality firm Tao Group, also donated the maximum $2,100 allowed under the matching funds program.Adams’ December fundraiser in San Juan, Puerto Rico appears to have netted him about $11,000, including $3,700 from its host: cryptocurrency magnate Brock Pierce. (That total exceeds the legal limit for the matching funds program, meaning Adams would need to return some of it if he is ever allowed to receive public payments.)Brad Lander’s supporters included rafts of nonprofit employees and architects, including $500 from David Giffen, executive director of the Coalition for the Homeless; and $600 from defense lawyer Ron Kuby.Myrie, who is embracing new housing development in his mayoral platform, received some real estate support: $400 from developer Jed Walentas of Two Trees. He also received $400 from Emma Bloomberg, a nonprofit executive and daughter of the former mayor.Stringer received $1,000 from newly inaugurated Assemblyman Micah Lasher, a fellow Upper West Sider.
