Xi Jinping Net Worth: How Rich Is China's President?

Xi Jinping joined the pantheon of Chinese leadership in 2012, two decades after bursting onto the scene as a graft-fighting governor

KEY POINTS

Xi Jinping became China's president in 2012
He reportedly earns an annual salary of around $22,000
Xi was named the world's most powerful person by Forbes in 2018 after China's parliament voted to abolish presidential term limits

Xi Jinping is the leader of the world's second-largest economy, but his reported net worth is relatively small when compared to those of other world leaders.

The 69-year-old president of China has a net worth of $1 million, according to a Celebrity Net Worth report published in 2015.

Xi reportedly earns an annual base salary of ¥152,121 RMB, or around $22,000, according to a 2015 Financial Times report.

In comparison, President Joe Biden earns a salary of $400,000 per year. His net worth is estimated by Forbes to be around $8 million.

The world's highest-paid top official is Singapore Prime Minister Lee Hsien Loong, whose salary is reportedly S$2.2 million ($1.6 million) per year.

Xi's salary has actually been adjusted and given a 62% increase. The lower-than-average monthly income of China's top officials is a reflection of Xi's anti-corruption drive. The president vowed to lift the 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 reached 819 by 2018. This is 40% more than the ultra-rich in the U.S.

China's billionaires include Alibaba co-founder Jack Ma, Tencent founder and CEO Ma Huateng, Xiaomi founder and CEO Lei Jun and search engine Baidu co-founder Robin Li.

After assuming leadership of China's Communist Party in 2012, Xi immediately saw the benefits of privatization-friendly reform, Forbes reported.

Xi reportedly created the slogan "Chinese Dream," a set of personal and national ideals for the advancement of Chinese society.

He was named the most powerful person in the world by Forbes for the first time in 2018 after Chinese lawmakers passed changes to the country's constitution abolishing presidential term limits, broadening Xi's influence.

The constitutional change officially allows Xi to remain in office after the end of his second term in 2023.

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 Hongqi is China's answer to the U.S.' "The Beast," which is the vehicle of choice of the country's president.

As an added protection, the Hongqi limousine is bulletproof. The Hongqi carries a price tag of at least $1.2 million, similar to that of The Beast, a Cadillac limousine.