Donald Trump may earn over $600,000 as the President of the United States, but he says the money isn’t for him.
On Wednesday, Trump announced that he will be donating his entire presidential salary , repeating the gesture he made throughout his first term.
Taking to social media platform Truth Social, he wrote, “I am proud to be the only President (with the possible exception of the Late, Great George Washington) to donate my Salary. My first “Paycheck” went to the White House Historical Association , as we make much needed renovations to the beautiful “People’s House.” Great improvements and beautification is taking place at the White House, at levels not seen since its original creation. MAKE AMERICA GREAT AGAIN!”
Under US federal law, the president earns a base salary of $400,000 per year, along with additional allowances: $50,000 for expenses, $100,000 for travel and $19,000 for entertainment.
During his first term in office, Trump donated his full salary to various government departments. In one instance, he gave his second-quarter pay to the department of education to support a STEM-focused summer camp for students.
At the time, the White House said it was part of Trump’s efforts to boost interest in Science, Technology, Engineering, and Maths, and to help young Americans prepare for future jobs.
In a financial disclosure released earlier, Trump had declared over $600 million in earnings for 2024, coming from ventures including cryptocurrency, golf properties, licensing deals, and other business activities, according to Reuters.
The report, which appears to cover the 2024 calendar year, showed that gains from cryptocurrency investments notably contributed to Trump’s rising wealth, alongside large development fees and income from his broader business empire.
Reuters estimates that Trump’s total assets are worth at least $1.6 billion.
On Wednesday, Trump announced that he will be donating his entire presidential salary , repeating the gesture he made throughout his first term.
Taking to social media platform Truth Social, he wrote, “I am proud to be the only President (with the possible exception of the Late, Great George Washington) to donate my Salary. My first “Paycheck” went to the White House Historical Association , as we make much needed renovations to the beautiful “People’s House.” Great improvements and beautification is taking place at the White House, at levels not seen since its original creation. MAKE AMERICA GREAT AGAIN!”
Under US federal law, the president earns a base salary of $400,000 per year, along with additional allowances: $50,000 for expenses, $100,000 for travel and $19,000 for entertainment.
During his first term in office, Trump donated his full salary to various government departments. In one instance, he gave his second-quarter pay to the department of education to support a STEM-focused summer camp for students.
At the time, the White House said it was part of Trump’s efforts to boost interest in Science, Technology, Engineering, and Maths, and to help young Americans prepare for future jobs.
In a financial disclosure released earlier, Trump had declared over $600 million in earnings for 2024, coming from ventures including cryptocurrency, golf properties, licensing deals, and other business activities, according to Reuters.
The report, which appears to cover the 2024 calendar year, showed that gains from cryptocurrency investments notably contributed to Trump’s rising wealth, alongside large development fees and income from his broader business empire.
Reuters estimates that Trump’s total assets are worth at least $1.6 billion.
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