Actual Salary of US President with Other Allowances Released
- The US President earns $400,000 annually and $33,000 with additional allowances for expenses, entertainment, and travel, alongside access to free healthcare and official transport
- Former President Donald Trump donated his salary during his term, directing funds to various agencies, including efforts to combat the Coronavirus in 2019
- The presidential salary has only been adjusted five times since 1789, with the last increase in 2001 doubling it to its current figure
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The President of the United States earns an annual salary of $400,000 (638 million naira), which equates to $33,000 (52 million naira) per month, a figure that has remained unchanged since before the 21st century.
Alongside the salary, the president receives $50,000 annually for personal expenses, $19,000 for entertainment, and $100,000 for White House renovations upon moving in, according to US government website.
Source: Getty Images
According to BBC, additional perks include free healthcare, travel on Air Force One, Marine helicopters, and presidential limousines, as well as non-taxable $100,000 travel expenses annually.
The law stated thus:
“The President shall receive in full for his services during the term for which he shall have been elected compensation in the aggregate amount of $400,000 a year, to be paid monthly, and in addition an expense allowance of $50,000 to assist in defraying expenses relating to or resulting from the discharge of his official duties. Any unused amount of such expense allowance shall revert to the Treasury pursuant to section 1552 of title 31, United States Code. No amount of such expense allowance shall be included in the gross income of the President. He shall be entitled also to the use of the furniture and other effects belonging to the United States and kept in the Executive Residence at the White House.”
Trump’s salary donations during his presidency
During his term from 2016 to 2020, Donald Trump, worth approximately $3 billion according to Forbes, declined to collect his presidential salary.
Instead, he donated it quarterly to various agencies, including the Department of Health and Human Services in 2019, to support efforts against Coronavirus. Trump remains the wealthiest individual to have occupied the Oval Office.
Historical adjustments to Presidential salary
Since 1789, the presidential salary has been adjusted only five times, with the last increase occurring in 2001, when Congress doubled it from $200,000 to $400,000.
Initially set at $25,000, this amount would be worth approximately $895,700 today, accounting for inflation. The rationale behind the salary is to deter corruption and ensure financial independence for the president.
Source: Getty Images
Salaries of Nigerian president and governors
Legit.ng earlier reported that the President of Nigeria earns an annual salary of ₦14,058,820, translating to a monthly income of ₦1,171,568, while state governors receive ₦7,782,968 annually, or ₦648,581 monthly, according to data available on RMAFC, a government agency.
These figures were disclosed by Muhammed Shehu, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), in an interview.
Shehu emphasised that political officeholders in Nigeria do not earn exorbitant salaries, contrary to popular belief, and noted that there has been no salary increment for these positions since 2007.
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Source: Legit.ng
