FLASH
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Being the head of state or head of government means a lot of pressure from the citizens of the country, as well as internationally; long, tiring working hours and relatively low pay, at least compared to that of CEOs of large companies. However, some world leaders have a much better salary than others. These are some of the highest paid political leaders in the world in 2024:
Lee Hsien Loong, the Prime Minister of Singapore, receives the highest compensation of any government leader globally. He earns roughly $1.6 million a year, according to the World Population Review. The high salaries are meant to discourage corruption among senior ministers and attract the brightest government officials to serve the country. Perhaps, this is why Singapore is among the least corrupt countries in the world, according to Statista.
John Lee Ka Chiu, Hong Kong's chief executive, ranks second. According to the South China Morning Post, he earns roughly $672,000 a year. According to the Chinese newspaper, he reached this annual salary after the Hong Kong government implemented a 12.4% salary increase proposal for all its leaders. The salary increase was seen as an incentive to recruit and retain highly qualified government officials, as well as to cushion the effects of inflation, the Chinese daily reported.
-Viola Amherd, president of the Swiss Confederation as of December 13, 2023, earns CHF 456,854 ($505,000) a year, according to the Swiss government, ranking third on the list of the world's highest-paid leaders.
As the leader of the world's superpower, many people would expect US President Joe Biden to be the highest-earning government official.
But he is fourth on the list, with an annual salary of $400,000. However, the country also allows its president a $50,000 allowance "to help defray expenses incidental to or resulting from the performance of his official duties," according to the US Code. In addition, he has access to the most luxurious facilities such as the White House and Air Force One.
The world's fifth highest-paid leader is Australian Prime Minister and former Labor Party leader Anthony Albanese, who trails Biden with an annual salary of about $378,400, according to the Financial Australian Review.
Not far behind is German Chancellor Olaf Scholz (pictured), who earns about $360,000 a year, followed by New Zealand Prime Minister Christopher Luxon, who earns nearly $340,000, according to Wage Indicator.
Also in the top ten are: Mohamed Ould Ghazouani, the president of Mauritania with a salary of $330,000, followed by Austrian Chancellor Karl Nehammer who earns $328,000 a year and Luc Frieden (pictured), the Prime Minister of Luxembourg with a salary of $278.0. year.
Canadian Prime Minister Justin Trudeau earns CA$379,000 ($282,000) a year, according to CTV News, ranking 12th on the list of the world's highest-paid leaders.
UK Prime Minister Rishi Sunak earns around £161,401 ($186,685) a year. Although it doesn't make much difference to him, given that he is the 222nd richest person in the world, according to The Sunday Times.
On the other hand, some world leaders are truly unpaid. Some of the worst are the President of Laos ($1,630 per year); Cuban President Miguel Díaz-Canel ($360 a year) or Ali Khamenei, Iran's supposedly unpaid supreme leader. However, low salaries in top government jobs often lead to corruption, especially in a dictatorial regime like Iran's, for example. And while on paper they may have a set salary, chances are they actually have millions at their disposal.
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