Lander Leads in Campaign Funding, as Mayoral Race Heats Up
New York City Comptroller Brad Lander now boasts more in his campaign coffers than the embattled incumbent Eric Adams in this year’s race for mayor, according to filings made to the City’s Campaign Finance Board this week.
The Financial Standing of the Field
The field’s financial standing for the June primary came into clearer focus Wednesday with the board’s release of fundraising and spending figures from mid-October through last week. Former Comptroller Scott Stringer is not far behind — and two other contenders, Zohran Mamdani and Zellnor Myrie, hope to catch up when the board releases another round of public matching funds next month.
Lander’s Funds Surpass Adams’
Lander got a boost from his first round of matching funds, receiving $2.9 million after raising $1.1 million from donors. That gave him $3.2 million cash on hand as of January 11, when the latest filing period ended.
Adams’ Funds Stagnate
Adams ended the filing period with $3.1 million, after raising $270,000 since October — a slight increase from the prior filing period but lower than any other fundraising period he reported since 2022. Vito Pitta, an attorney for the Adams campaign, didn’t respond to a request from THE CITY for comment.
Stringer’s Fundraising Efforts
Stringer closed the filing period with $2.3 million in the bank after receiving a second payout of matching funds on Wednesday.
Mamdani and Myrie’s Fundraising
Assemblymember Zohran Mamdani, who entered the race just three months ago, boasted more individual donors than any other candidate in the race, and more money raised this filing period than any other candidate, with $641,816 from 6,518 donors. Mamdani and Myrie — who said he’s raised a little over $647,000 from 3,363 donors over eight months of campaigning — both anticipate collecting matching funds when the Campaign Finance Board makes its next disbursement on February 18.
Other Contenders
Former hedge fund manager Whitney Tilson reported raising $424,968 from 1,416 donors, among them Bill Ackman, a fellow hedge-funder who has been vocal in his support for incoming President Donald Trump. Three other high-profile candidates have not yet raised enough to meet the Campaign Finance Board thresholds for public matching funds. State Sen. Jessica Ramos and former Assemblymember Michael Blake hadn’t surpassed the needed $250,000 minimum in total fundraising. Meanwhile, former federal prosecutor Jim Walden raised $630,000 from donors, but fewer than 1,000 reported residing in New York City, falling short of another threshold. (Walden additionally reported loaning his own campaign half a million dollars.)
Campaign Finance Board’s Public Matching Funds Program
The city’s generous public matching funds program supplements donations from New York City residents of up to $250 with as much as eight dollars in public money. Participating candidates who agree to limit their total spending can amass as much as $7 million in public financing over the course of a primary — money that helps pay for advertising, canvassing, campaign staffers, office rentals, and other expenses.
Conclusion
The latest fundraising figures paint a clear picture of the financial standing of the mayoral candidates. With Lander leading the pack, followed closely by Stringer, Mamdani, and Myrie, the race is heating up. As the primary approaches, it will be interesting to see how the candidates use their funding to shape the narrative and connect with voters.
FAQs
- What is the Campaign Finance Board’s public matching funds program?
The program supplements donations from New York City residents with public money, helping to level the playing field for candidates. - How does the program work?
Candidates who agree to limit their total spending can amass as much as $7 million in public financing over the course of a primary. - What is the minimum amount a candidate must raise to qualify for public matching funds?
$250,000 in total fundraising.
