Who’s the world’s most handsomely paid leader? Singapore’s Prime Minister Lawrence Wong takes the top spot, raking in over $1.6 million annually. This puts him far ahead of the pack, including US President Joe Biden who sits in fourth place with a comparatively modest $400,000 salary. A new ranking from Visual Capitalist reveals the massive pay gap between global leaders.
10. Fumio Kishida
Japanese Prime Minister Fumio Kishida is the tenth highest-paid world leader in 2024, with an annual salary of $256,000. Kishida, who assumed office in October 2021, is guiding Japan through significant economic and geopolitical challenges. His salary reflects the high cost of living in Japan and the complexities of leading a major global economy. Kishida, a member of the Liberal Democratic Party, has been focusing on economic revitalization and security issues, including Japan’s strategic role in the Asia-Pacific region. His compensation package highlights the demanding nature of his role amidst Japan’s evolving political and economic landscape.
9. Christopher Luxon
New Zealand Prime Minister Christopher Luxon ranks ninth with an annual salary of $288,000. Luxon, who began his term in 2023, is leading New Zealand through a period of economic change and social reform. His salary mirrors the high cost of living and the competitive nature of executive roles in New Zealand. Luxon, from the National Party, has prioritized issues such as economic growth, housing affordability, and climate action. His compensation underscores the importance of strong leadership in addressing New Zealand’s domestic and international challenges while maintaining the country’s high living standards.
8. Karl Nehammer
Austrian Chancellor Karl Nehammer is the eighth highest-paid leader, earning $307,000 annually. Nehammer, in office since December 2021, is at the helm during a time of economic uncertainty and political challenges. His salary reflects Austria’s high cost of living and the significant responsibilities of his role. As a member of the Austrian People’s Party (ÖVP), Nehammer has focused on economic recovery, immigration policy, and strengthening Austria’s position within the European Union. His remuneration highlights the critical nature of effective leadership in navigating both domestic and international priorities.
7. Ursula von der Leyen
Ursula von der Leyen, President of the European Commission, ranks seventh with a salary of $364,000 per year. Since her appointment in December 2019, von der Leyen has been leading the European Commission through major challenges, including Brexit and climate policy. Her salary reflects the high-profile nature of overseeing the EU’s executive branch and the complex responsibilities of coordinating policy across member states. Von der Leyen’s leadership is crucial in shaping EU policy and maintaining cohesion among diverse nations, and her compensation highlights the importance of her role in guiding the EU’s strategic direction.
6. Olaf Scholz
German Chancellor Olaf Scholz is the sixth highest-paid world leader, with an annual salary of $367,000. Scholz, who has served since December 2021, is leading Germany through a period marked by economic challenges and geopolitical tensions. His salary reflects the high cost of living in Germany and the significant responsibilities of his role. Scholz, from the Social Democratic Party (SPD), has been focusing on economic stabilization, energy policy, and European Union leadership. His compensation underscores the demanding nature of the chancellorship and Germany’s approach to compensating its top leader in line with its economic context.
5. Anthony Albanese
Australian Prime Minister Anthony Albanese ranks fifth with a salary of $390,000 annually. Albanese, who took office in May 2022, is leading Australia through significant economic and social challenges. His salary reflects Australia’s high living standards and the competitive nature of executive compensation. Albanese, from the Australian Labor Party, has prioritized climate change, Indigenous reconciliation, and economic growth. His compensation package highlights the importance of strong leadership in addressing Australia’s evolving needs and maintaining stability in both domestic and international arenas.
4. Joe Biden
U.S. President Joe Biden ranks fourth among the highest-paid world leaders, earning $400,000 annually. Biden, who began his term in January 2021, has been steering the United States through a period of substantial domestic and international challenges, including economic recovery and geopolitical tensions. His salary is set by U.S. law and reflects the significant responsibilities of the presidency. Biden’s focus has been on infrastructure, climate change, and social equity, and his compensation underscores the demanding nature of leading one of the world’s largest economies.
3. Viola Amherd
Viola Amherd, President of Switzerland, is the third highest-paid world leader, with an annual salary of $530,000. Serving since 2023, Amherd represents the Swiss Federal Council, which rotates the presidency annually. Her salary reflects Switzerland’s high cost of living and the importance of her role in Swiss governance. Amherd, from the Christian Democratic People’s Party (CVP), focuses on defense and civil protection. Her remuneration highlights the value placed on stability and experienced leadership in Switzerland’s unique political system.
2. John Lee Ka-chiu
Hong Kong Chief Executive John Lee Ka-chiu is the second highest-paid leader, with an annual salary of $695,000. Lee, who assumed office in 2022, is navigating Hong Kong through a complex political and economic landscape. His substantial salary reflects the high-stakes environment of his role and the challenges of balancing economic interests with political stability. Lee’s leadership is crucial in managing Hong Kong’s relationship with mainland China and addressing local and international concerns. His compensation underscores the demanding nature of leading Hong Kong during a period of significant change.
1. Lawrence Wong
Lawrence Wong, Singapore’s Prime Minister, is the highest-paid world leader in 2024, with a salary exceeding $1.6 million annually. Wong, who took office in 2022, is known for his role in economic policy and navigating Singapore’s post-pandemic recovery. His salary reflects Singapore’s high cost of living and its competitive approach to executive compensation. Wong’s remuneration includes a 13th-month bonus and additional benefits, highlighting the city-state’s commitment to attracting top leadership talent. His leadership is pivotal in maintaining Singapore’s global financial status and ensuring stability amid regional and global uncertainties.
Also read WEB STORY- Top 10 highest-paid world leaders