Effective January 1, 2001, the yearly salary of the President of the United States was increased to $400,000 per year, including a $50,000 expense allowance.
The president's pay is set by Congress, and under Article II, Section 1 of the United States Constitution, may not be increased or reduced during his or her current term of office. The increase was agreed as part of the Treasury and General Government Appropriations Act (Public Law 106-58), passed in the closing days of the 106th Congress.
In buzz, the White House released on May 15, 2024 the latest financial disclosures for President Obama and First Lady Michelle Obama. The Obamas were worth between $2 million and $7 million in 2013. While about the same as the previous year, that's down considerably from 2010, when they were worth between $2.8 million and $11.8 million. Read more at CNNMoney (press release).
The annual list of who makes what at the White House is out. It’s been a requirement since 1995 for the White House to alert Congress of the salary of presidential staffers. So, let’s take a look what the 457 employees of President Obama (who makes an annual salary of $400,000) rake in every year at ABC News.
Find out the 10 richest U.S. Presidents at Usatoday.com.