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The President of the United States is one of the most powerful individuals in the world, a fact that's reflected in their annual salary.
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The president is paid a $400,000 a year; on top of that, they receive an extra $50,000 expense allowance, a $100,000 non-taxable travel account and $19,000 for entertainment.
Since 1789, when George Washington became the nation's first president, there have been five salary increases for the commander-in-chief. The most recent increase was in 1969, when the salary was doubled from $200,000 to $400,000.
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President Trump, since taking office in 2016, has not accepted the money, instead directing it to a different agency each quarter. Most recently, he donated his fourth-quarter 2019 salary to the Department of Health and Human Services to "support the efforts undertaken to confront, contain, and combat Coronavirus," a White House press secretary said at the time.
Worth an estimated $3.1 billion, Trump is the wealthiest person to ever occupy the Oval Office, according to Forbes. A swath of Trump’s wealth stems from his sweeping real estate holdings, with roughly $1.5 billion concentrated in New York, Forbes reported. An additional $660 million stems from non-New York City real estate.
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He is not the first president to forego a salary
Herbert Hoover, the 31st president, was the first to refuse a salary, according to Politico. A multimillionaire before assuming office, Hoover donated his paycheck to charitable causes.
John F. Kennedy, one of the top five wealthiest presidents, followed suit: He refused his congressional salary from the House and Senate and his presidential salary (though he kept $50,000 for "public entertaining" he did as president). Like Hoover, he donated the money to charity, Politico reported. The largest recipients were the Boy Scouts and Girls Scouts of America, the United Negro College Fund and the Cuban Families Committee.
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