May 3, 2026
When Zohran Mamdani stood just hours away from meeting King Charles III in New York (1), he raised a centuries-old dispute that's still stirring global tension today.
The NYC mayor publicly urged the King to return the "infamous" (2) Koh-i-Noor diamond. While the meeting itself was centered on a ceremony honouring victims of the September 11 attacks, Mamdani's comments quickly shifted attention to a much bigger question: who really owns one of the most controversial diamonds in the world and why is a U.S. official the one calling it out now?
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"If I were to speak to the King separately from [the purpose of the event], I would probably encourage him to return the Koh-i-Noor diamond," Mamdani said ahead of the event (3).
A priceless asset
The 105-carat Koh-i-Noor diamond has passed through empires for centuries, becoming a symbol of power under Sikh ruler Ranjit Singh in the early 1800s (4). Officials have described the diamond as a "valued piece of art with strong roots in our nation's history," Reuters reported (5).
Now, India continues to press for its return, arguing it was taken during colonial rule and remains a culturally significant asset. The government has formally requested its repatriation multiple times since independence in 1947 (6) — including again in 1953 — but those efforts were rejected.
Now part of the British Crown Jewels, the diamond is on public display at the Tower of London, which attracts more than 3 million visitors each year. A study by luggage storage firm Bounce (7) estimates the tourist site ranks as the world's 14th highest-earning tourist attraction, generating about £68.7 million (8) — roughly $93 million USD — in annual revenue.
The stone — roughly the size of a hen's egg — is set in the crown that was worn by Queen Elizabeth The Queen Mother during the 1937 coronation of King George VI (9) and later at the coronation of Queen Elizabeth II.
While it has no official price tag, estimates suggest the diamond could be worth anywhere from $140 million to $400 million (10), though many experts argue its true value is effectively priceless given its rarity and historical weight.
That's what makes the debate so sensitive. Returning the diamond wouldn't just be symbolic, it could open the door for broader claims over valuable artifacts held by governments and institutions around the world. Former prime minister David Cameron acknowledged that risk in 2010.
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"What tends to happen with these questions is that, if you say yes to one, you suddenly find the British Museum would be empty," he told New Delhi Television (11).
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Mamdani weighs in
Germany, however, has taken a different approach returning 22 looted Benin Bronzes to Nigeria (12) as part of a broader repatriation effort. The move, led by Foreign Minister Annalena Baerbock, was explicitly framed as an attempt to confront Germany's "dark colonial history" and follows years of pressure, with Nigerian officials noting that even a decade ago, the return of the bronzes was seen as nearly impossible.
Mamdani's call to return the Koh-i-Noor diamond tapped into a global momentum quickly spreading across international media and reigniting a debate that many Western officials have avoided.
And his stance itself isn't out of character. Born in Uganda to Indian parents (2), Mamdani comes from a family engaged with post-colonial issues — his father, Mahmood Mamdani, is a leading scholar, and his mother, Mira Nair, has explored similar themes in film. As a democratic socialist, he has also been openly critical of traditional power structures, including the monarchy.
Whether Mamdani had a one-off conversation with the King about the diamond remains unknown, but the debate surrounding it is far from settled.
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
CBS News (1); The New York Times (2); YouTube (3),(11); Smithsonian Magazine (4); Reuters (5); LADbible (6); Time Out (7); Wise (8); BBC (9); The Independent (10); NPR (12)
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Victoria Vesovski is a Toronto-based staff reporter at Moneywise covering personal finance, lifestyle and trending news. She holds degrees from the University of Toronto and New York University, and her work has appeared on platforms including Yahoo Finance, MSN Money and Apple News.
