Donald Trump has said he will not accept a salary for being president when he is in the White House.
Independent reports that prior to his election victory, Mr. Trump has insisted he will not “take even one dollar” of the $400,000 presidential salary.
Speaking at an event in September last year, he told a crowd in New Hampshire: “The first thing I'm going to do is tell you that if I'm elected president, I'm accepting no salary, okay? That's not a big deal for me.”
During his campaign, the Republican politician made much of his claims that as a millionaire business mogul he is not bound to the bidding of financial backers, according to Independent.
Mr. Trump is worth an estimated net $3.7 billion, according to Forbes.
CBS News reports that it wasn’t long after Donald Trump’s victory this week that questions began to circulate about what would happen to his business empire and income when the business mogul becomes president.
During his first television interview as president-elect on Sunday, Trump told 60 Minutes’ Lesley Stahl that he wouldn’t take a salary as president.
“Well, I’ve never commented on this, but the answer is no,” Trump said. “I think I have to by law take $1, so I’ll take $1 a year. But it’s a — I don’t even know what it is.”
Stahl reminded the president-elect, “[That’s] $400,000 you’re giving up.”
Again, Trump answered, “No, I’m not gonna take the salary. I’m not taking it.”
Independent report that previous wealthy presidents have donated their salaries to charity after deeming it is not financially necessary for them to take it as personal income. Herbert Hoover and John F Kennedy both reportedly donated the money to charity.
The US Code, which outlines duties and entitlements for the President, states: “The President shall receive in full his services during the term for which he shall have been elected compensation in the aggregate amount of $400,000 a year, to be paid monthly, and in addition an expense allowance of $50,000 to assist in defraying expenses relating to or resulting from the discharge of his official duties.”
