The highest paid political leaders around the world: the ranking in 2023

Sushree Behera

When it comes to the realm of politics, assuming leadership brings forth immense responsibilities and formidable challenges, accompanied by the allure of substantial financial rewards. We shall delve into the realm of the highest-paid leaders and stateswomen hailing from diverse nations across the globe. 

These remarkable individuals have not only attained remarkable political triumphs but have also amassed considerable personal fortunes. From presidents to prime ministers, their esteemed positions have propelled them to the pinnacle of financial success. Let us now embark on an insightful exploration of these eminent personalities.

1. Lee Hsien Loong – Prime Minister of Singapore

Lee Hsien Loong, the esteemed Prime Minister of Singapore, consistently ranks among the most highly compensated political leaders worldwide.

As the distinguished leader of one of Asia’s most prosperous nations, Lee commands a substantial annual remuneration, estimated at approximately $1.6 million. This notable sum surpasses the per capita GDP of the country by a considerable margin. 

The astute guidance provided by Lee has played a pivotal role in propelling Singapore’s economic expansion and establishing its eminence as a global financial powerhouse.

2. Tamim bin Hamad – Emir of Qatar

Tamim bin Hamad Al Thani, the revered Emir of Qatar, stands as another notable political figure endowed with a remarkable fortune. He enjoys an annual salary exceeding $3.6 million, while his overall net worth ranges between $1.2 billion and $3 billion

Tamim has been actively involved in enhancing the preparations for hosting the 2022 FIFA World Cup, which has propelled his nation onto the international stage. Through his insightful leadership, the Qatar Investment Authority has made substantial investments in British enterprises, amounting to billions of dollars.

3. Carrie Lam – Chief Executive of Hong Kong

Carrie Lam, serving as the Chief Executive of Hong Kong, holds a position of considerable influence in one of Asia’s most prominent financial hubs. With an annual salary estimated at $672,000, Lam’s financial circumstances have taken an intriguing turn. 

Due to the sanctions imposed by the United States, she finds herself unable to access essential banking services, leading to an unconventional payment method—receiving her compensation in cash. This situation has resulted in a rather unusual consequence. Lam now finds herself in possession of substantial amounts of cash stored within her home, given the absence of a bank account.

4. Joe Biden – President of the United States

Joe Biden, the 46th President of the United States, may not be the wealthiest political leader, but his net worth is still considerable. Prior to assuming the presidency, Biden’s annual salary stood at $400,000. 

Accumulating his wealth through a long and distinguished political career, as well as various business ventures, Biden’s estimated net worth amounts to $9 million. Notably, a significant portion of his wealth is derived from book deals and speaking engagements, rather than his political salary.

Read also: Trump officially runs for 2024 Presidential Election and declares: “With Biden, risk of nuclear war”

5. Édouard Philippe – Former Prime Minister of France

Édouard Philippe, the esteemed former Prime Minister of France, has established himself not only as a prominent political figure but also as a successful legal practitioner. 

According to a report by US Today, Philippe’s annual salary amounts to $220,505, in a nation with a per capita GDP of approximately $40,000. As indicated in the report published by 24/7 Wall St., he ranked 20th among the highest-paid world leaders in 2019.

While the exact details of his net worth remain undisclosed to the public, it is widely believed that he stands among the most financially prosperous leaders in France.

6. Jimmy Morales – Former President of Guatemala

Jimmy Morales, the former President of Guatemala, has garnered attention for his noteworthy remuneration, surpassing his regional counterparts. As reported by the BBC, he received a monthly salary of $20,000, the highest among all presidents in the region. 

Additionally, the Defense Ministry granted him a monthly “Bonus for Extraordinary Responsibility” totaling 50,000 quetzals ($6,808). In accordance with a 2019 article by USA Today, Morales’s annual salary during his presidency amounted to $227,099. Prior to his political career, Morales made a name for himself as a comedian and actor, which significantly contributed to his overall wealth.

7. Leo Varadkar – Former Taoiseach of Ireland

Leo Varadkar, the distinguished former Taoiseach (Prime Minister) of Ireland, has enjoyed a prosperous political journey, greatly bolstering his personal finances. Varadkar currently receives an annual salary of $234,447, in a nation where the GDP per capita stands at $66,548. 

His remuneration as Taoiseach exceeds four and a half times the average income of Irish citizens. Before embarking on his political path, Varadkar worked as a doctor, earning a substantial income. Although the precise details of his net worth are not publicly disclosed, he is widely regarded as one of Ireland’s highest-earning politicians.

8. Sebastian Kurz – Chancellor of Austria

Sebastian Kurz, the esteemed Chancellor of Austria, has swiftly ascended the political ranks to become the youngest-ever chancellor of the country. Despite his relatively young age, Sebastian commands an annual salary exceeding $300,000, surpassing the average wage of Austrian citizens by more than sixfold. In 2018, he was ranked 8th among the highest-paid global leaders.

Read also: All the women leaders, premier and head of state currently in power worldwide

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