Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Here's Where The Mayoral Candidates Are Getting Their Money
By
David Cruz
and
Jacob Dobkin
Published Jan 19, 2021
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
Tod Seelie / Gothamist
By
David Cruz
and
Jacob Dobkin
Published Jan 19, 2021
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Five months before the mayoral primary, former Wall Street financier Ray McGuire has emerged as the biggest fundraiser in his run for City Hall, new campaign finance data shows.
The former CitiGroup executive has turned to deep-pocketed donors in the upper echelons of Manhattan's upper class to help amass a sizable haul, with nearly $5 million in his campaign coffers, according to campaign finance data released last Friday. McGuire entered the race in October, but has still managed to out-raise his rivals who have declared long before he did, including Brooklyn Borough President Eric Adams and Comptroller Scott Stringer.
The graph below shows McGuire as the top fundraiser in the crowded field of mayoral candidates. Here's a look at how the other candidates are doing:
The below map shows who New York City residents have been putting their money behind, with McGuire leading among them. The color-coded map shows those living in Manhattan's 10024 and 10128 ZIP codes—generally considered the Upper West Side and Upper East Side where median incomes are $112,189 and $173,848, respectively—have donated a combined half a million dollars to McGuire's campaign.
Other candidates in those two ZIP codes have also reaped in generous donations from New Yorkers, former Housing Urban Development Secretary Shaun Donovan and Stringer receiving $131,190 and $166,684, respectively.
One reason that could explain McGuire's quick rise as a top fundraiser is the sizable donations he's received. The chart below shows 91% of McGuire's individual donors have chipped in $1,000 or more. McGuire has opted out of the 8 to 1 matching funds program, where his money could have increased eight times by New York City residents who give between $10 and $250. To qualify, candidates need to raise $250,000 in eligible donations.
But even with McGuire's haul, Adams technically maintains a lead that's been helped by his prior campaign and the 8 to 1 matching program, as this chart below shows.
Unlike McGuire, former City Hall attorney and MSNBC news analyst Maya Wiley has qualified for the taxpayer-funded program, thanks to the more than 9,000 donors who've backed her campaign, stretching her donations even further. Former city Sanitation Commissioner Kathryn Garcia may have raised $300,000 but did not qualify for the program.
The following interactive bar graph breaks down the size of donations for each candidate (hover your mouse over any individual candidate to see their haul):
For McGuire, raising funds easily seems to stem largely from who exactly is donating to his campaign, and he can thank CEOs and the legal world for that. A look at his coffers show he's received a total of $968,830 from donors who identity as a CEO or an attorney or lawyer. Similarly, Wiley has received the most funds from people who identify as an attorney, with $80,604, a fraction of McGuire's amount.
Here's a breakdown of each of the other candidates:
But McGuire's money appears to be coming less from New York City than some other homegrown candidates who've built their political careers serving New York City, like Stringer and Adams. Leading the pack with the most outside money, however, is Zach Iscol, a CEO who helped carry out logistics for the COVID-19 response at the Javits Medical Center, where 38% of his money has come from outside New York. Donovan is not too far behind, with 36% of his money originating outside the five boroughs.
The next campaign filing date is March 15th, when candidates such as entrepreneur and former presidential candidate Andrew Yang—who officially entered the race last week—are expected to release their latest take.
The mayoral race is set for June 22nd and will be the first time where Ranked Choice Voting will play a role in the race.
Tagged
primary
election 2021
election
David Cruz
David is a former WNYC and Gothamist editor.
Read more
Jacob Dobkin
Jake Dobkin co-founded Gothamist with Jen Chung. In 2019, Jake released Ask a Native New Yorker, a book based on his Gothamist advice column.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Deer are all over New Jersey roads looking for sex, state officials warn
Mid-October through mid-December is deer mating season, which can be a danger to drivers as the sex-seeking creatures cross roadways throughout the Garden State.
By
Rosemary Misdary
Published Oct 16, 2026 at 4:22 p.m. ET
Man messaged 'I got straight poison' before giving NYC college students fentanyl, feds say
A transcript from an April court hearing sheds new light on what transpired at Fashion Institute of Technology.
By
Samantha Max
News
Man messaged 'I got straight poison' before giving NYC college students fentanyl, feds say
A transcript from an April court hearing sheds new light on what transpired at Fashion Institute of Technology.
By
Samantha Max
Inside the plan to fix the nearly collapsed Pfizer Building, 1/64th of an inch at a time
By
David Brand
School bus carrying autistic students got lost in Brooklyn for 4 hours last year
By
Jessica Gould
NYC’s bridges can last 'forever,' if we take care of them
By
Clayton Guse
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .