World's Highest-Paid Leader Gets Raise; How Trump's Salary Compares
Summary
Singapore’s Prime Minister Lawrence Wong will get a big raise to an annual salary of about $2.85 million starting October 15, 2024. This is much higher than other world leaders, including U.S. President Donald Trump, who earns $400,000 a year. Wong said he plans to donate the increase to charity.Key Facts
- Lawrence Wong became Singapore’s Prime Minister in 2024.
- His salary will rise 64% from about 2.2 million Singapore dollars ($1.74 million) to 3.6 million Singapore dollars (~$2.85 million).
- The pay increase is part of Singapore’s system that links politicians’ salaries to private sector earnings.
- Wong promised to donate the entire raise to suitable charities.
- President Trump’s annual salary is $400,000, last set in 2001.
- Wong’s salary will be more than seven times higher than the U.S. president’s.
- Singapore’s prime minister earns more than leaders of Australia, Canada, New Zealand, South Korea, and Switzerland combined.
- Other leaders like Britain’s prime minister earn around $230,000 a year, and Switzerland’s president about $600,000 annually.
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