Donald Trump to forfeit $400,000 annual salary as President

US President-elect, Donald Trump has said he would forfeit the $400,000 annual salary meant for the President of the United States of America.

The billionaire during his campaign had said he would not accept the salary, stating that it was not a big deal to him.

At an event in Rochester, New Hampshire, Trump said,  ‘The first thing I’m going to do is tell you that if I’m elected president, I’m accepting no salary, okay? That’s not a big deal for me.’

Someone on Twitter asked Trump in a Q & A session, a video of which was posted on Trump’s Twitter account on September 21, 2015: ‘@realDonaldTrump, will you forgo the presidential salary if elected?’

Trump answered: ‘As far as the salary is concerned — I won’t take even one dollar. I am totally giving up my salary if I become president.’

According to Forbes, Donald Trump’s net worth is $3.7billion.

Both J.F Kennedy and Herbert Hoover who were both wealthy before becoming Presidents had donated their salaries to charity.

The US Code says on its website: ‘The President shall receive in full for his services during the term for which he shall have been elected compensation in the aggregate amount of $400,000 a year, to be paid monthly, and in addition an expense allowance of $50,000 to assist in defraying expenses relating to or resulting from the discharge of his official duties.’

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