Being the head of state or of government entails facing intense domestic and international pressure, as well as long, arduous hours of work and relatively little remuneration, at least in comparison to CEOs of huge corporations.
However, some global leaders are paid far more than others. The following political figures will receive some of the highest salaries worldwide in 2023:
Lee Hsien Loong, Singapore
The prime minister of Singapore, Lee Hsien Loong, is paid more than any other head of state in the world. According to World Population Review, he makes about $1.6 million annually. The purpose of the high wages is to deter corruption among senior politicians and recruit the best public servants to serve Singaporeans. Singapore is reportedly one of the least corrupt nations in the world, according to Statista.
John Lee Ka Chiu, Hong Kong
Hong Kong’s top executive, John Lee Ka Chiu, comes in second. The South China Morning Post estimates that he makes about $672,000 annually. The Hong Kong government reportedly enacted a 12.4% wage rise proposal for all of its chiefs, which is how he came to earn this yearly income, according to the Chinese daily.
According to the Chinese newspaper, the compensation boost was considered as a way to attract and keep highly skilled government personnel while also reducing the impact of inflation.
Alain Berset, Switzerland
Alain Berset, the third-highest paid leader in the world and president of the Swiss Confederation since January 2023, gets CHF 456,854 ($505,000) yearly, according to the Swiss government.
Joe Biden, United States
Many people would anticipate that US President Joe Biden would be the highest-paid government employee given his position as the head of the world’s superpower. However, he ranks fourth on the list and earns $400,000 a year.
According to US Code, the president is also permitted a $50,000 charge “to help defray expenses related to or resulting from the performance of his official duties”. He also gets access to the finest facilities, including the White House and the Air Force One.
Anthony Albanese, Australia
Anthony Albanese, the former leader of the Labour Party and current prime minister of Australia, is the fifth highest paid head of state in the world, earning around $378,400 a year less than Biden, according to the Financial Australian Review.
More lucrative international leaders
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