Much like any other citizens (see how much does a real estate agent make) of the United States, the President is on a salary. Not like the conventional American employee, who earns approximately $44,564 in 12 months, the president gets $400,000 in one year, in addition to extra expenditure money of $50,000 and a $100,000 travel account, and $19,000 worth of funds intended for entertainment.
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Since George Washington took office in 1789, the President has raised interest rates five times today. The most recent appreciation was in 2001 when Congress doubled the president’s salary. George W. Bush was the first president to gain from this progress. This increase had been well overdue.
The CNBC made use of the inflation calculator to identify the value of each income in dollars today. The result turned out that $ 400,000 per year is regarded as a very small amount in comparison to the salary of the past president. Apart from the salary, the President also receives free transportation, Air Force One, Marine One, and free housing in the famous White House.
One more perk worth mentioning is that after the president leaves the office, the former president will still be part of the payroll which results in a yearly pension amounting to $200,000. And there’s also health care and official travel all-expense paid.
The salary of about $400,000 is enough to place the president among the top 1% of the income earners in the United States, a US president can gain more from speaking engagements. As outlined by CNN’s 2012 statement, Bill Clinton’s speaking gig soon after his term gained $75 million and even more.
The current president, Pres. Trump has a net worth of $3B in estimation. When he entered the office he pledged his entire salary as the president to charity. In 2017, he donated his salary for the third quarter to the Department of Health. His fourth-quarter earnings were said to have been donated to the Department of Transportation.