Though the leader of the free world, the president of the United States is ultimately still a federal employee. They earn a salary just like any other government worker. However, the president's salary is a bit higher than most. The annual salary awarded to the President of the United States is $400,000. But, as we will explore shortly, this hasn't always been the case.
How much does the U.S. president make each year? While it's true that the president's salary is modest, there are other perks that go along with the job. For example, the president gets free housing in the White House. They also get a travel budget, a personal chef, a personal physician, and a host of other staff to assist them in their duties.
While compensation for the U.S. president is very generous, most people who run for the job don't do it to get rich. So how much does the average president make in their lifetime? According to a recent analysis, the average U.S. president earns a total of $20 million in their lifetime from speaking engagements, book deals, and investments.
The President of the United States earns an annual base salary of $400,000. This salary is set by Congress and is subject to federal income tax. However, the president also receives a $50,000 expense account, a $100,000 nontaxable travel account, and a $19,000 entertainment allowance. They also get to live rent-free in the White House and use its facilities for official events.
Former President Donald Trump has been a household name for decades, but more recently, his name has appeared in headlines following a controversial presidency. However, his net worth has always been a topic of discussion. According to Forbes, Trump's net worth was $3.5 billion in 2017. However, after his presidency, his net worth has been estimated to have decreased significantly due to legal battles and loss of business deals.
President Joe Biden once described himself as "the poorest man in Congress." While he is not a millionaire like some of his colleagues, he is still quite wealthy. According to Forbes, Biden's net worth is around $9 million. He made his money from his years in public office and book deals.
Barack and Michelle Obama have a net worth of at least $70 million. The former president and his wife earn it from public speaking engagements, book deals, and investments. This is a significant increase from their pre-presidential days when they were worth $1.3 million.
In conclusion, the president of the United States earns a modest salary of $400,000 a year, but they also receive a host of other benefits that make the job quite lucrative. However, most presidents don't do it for the money. They do it to serve their country and make a positive impact on the world.
