Xi Jinping Net Worth: Does China President Really Earn Only $22,000/ Year?

Xi Jinping is the most powerful man in China, but his net worth is relatively small compared to other world leaders.

China’s population is the biggest in the world and considered the second largest economy. When Xi became the nation’s president in 2012, he quickly implemented reforms and this helped the 66-year-old leader be hailed as the most powerful man in the world by Forbes. However, his salary still pales in comparison to other world leaders.

Per Financial Times, Xi only receives $22,256 per year as salary. When compared to Barack Obama’s salary, the gap is wider than initially thought. Obama received $400,000 annual salary plus allocations for other purposes such as $19,000 for entertainment and $100,000 for travel costs. The world’s highest paid top official is Singapore Prime Minister Lee Hsien Loong with $1.8 million salary per year.

President Xi’s salary has actually been adjusted and given a 62 percent increase. The lower than average monthly income of China’s top officials is a reflection of the anti-corruption drive of Xi. The president vowed to lift Chinese people from poverty during his term. He has made progress so far but a lot still has to be done.

Under Xi’s administration, the number of billionaires in China has reached 819 in 2018. This is 40 percent more than the ultra-rich in the U.S. Some of the recent Chinese businessmen who became billionaires are Pony' Ma from Tencent and the owners of Xiaomi and Baidu, Lei Jun and Robin Li.

When traveling, President Xi opts to use the “Hongqi” which means “the red flag”. The car is commonly used by members of the Communist Party of China. Traveling in the Hongqi is China’s answer to the U.S.’s “The Beast” which is the vehicle of choice of the country’s president. As added protection, the Hongqi limousine is bulletproof. The Hongqi carries a price tag of at least $1.2 million which is around the same price tag of The Beast, a Cadillac limousine.

World leaders often travel by air via private jets or choppers. By using their country-made vehicles, it sends a message that the manufactured vehicles are made of quality and also to show patriotism, Financial Express reports.

The President of China has a net worth of around $1 million, per Celebrity Net Worth. Before becoming president, he was a lawyer and chemical engineer by profession.