Ben Saanane
JF-Expert Member
- Jan 18, 2007
- 14,581
- 18,124
By Standard Reporter
The comparative salaries of world Presidents can today be revealed.
And interestingly, Kenya is among the chart-topping nations in terms of remunerating its leaders, with President Kibaki toppling many of the worlds richest states.
President Kibakis annual salary and benefits top the earnings of President Barack Obama
of the United States, the worlds most powerful nation, by more than Sh3 million a year.
It also overshadows that of leaders of other world leading economies such as Germany, Russia, Japan, Canada, the United Kingdom and Australia.
At Sh2 million a month ($26,000) basic salary, President Kibaki earns Sh24 million ($312,000) a year, slightly higher than German Chancellor Angela Merkels $303,000. Germany is Europes largest economy, and the worlds fifth.
President Kibakis salary also tops that of the Prime Minister of the United Kingdom a trillion-dollar economy Mr Gordon Brown
who earns $279,000 a year. This translates to Sh1,787,925 per month.
His counterpart, Mr Stephen Harper of Canada, another affluent and high-tech trillion-dollar class economy, takes home $246,000, some $3,000 more than that another high-flying economy Japan whose leader Yukio Hatoyama gets $243,000.
Australian Prime Minister Kevin Rudd is paid a "paltry" $229,000 in comparison.
These figures are, however, not inclusive of bonuses and other emoluments that world leaders are entitled to.
Kibaki earns another Sh1.2 million ($15,596) in benefits monthly, which translates to Sh14.4 million ($187,158).
President Obama gets an aggregate compensation of Sh30,776,000 ($400,000) a year, which is higher than Kibakis.
In addition, he gets an expense allowance of $50,000 towards costs related to the discharge of his official duties, which takes the US Presidents total to Sh34,623,000 ($450,000), which is still less than President Kibakis Sh38.4 million ($499,000).
Obama has a further $100,000 for official travel and $19,000 for entertainment. We couldnt get details on President Kibakis expenditure on official travel and entertainment.
Singapore
However, Kibakis earnings is loose change in comparison to what the Singaporean Prime Minister, Lee Hsien Loong, is paid.
Loong, who came to office in 2004, earns a whopping Sh289 million a year, with Sh190 million being the basic salary and Sh99 million being benefits. That translates to a gross salary of Sh24 million a month.
Prime Minister Donald Tsang Yum-Kuen of Hong Kong comes a distant second with Sh39,701,040 or $516,000 a year. This translates to Sh3.3 million per month.
Europes best paid leader, Prime Minister Brian Cowen of Ireland, earns Sh26,236,540 ($341,000) a year, slightly more than that of Frances eccentric Prime Minister Nicholas Sarkozy, who earns Sh24,466,920 ($318,000) a year, translating to Sh2 million a month.
Back closer home in South Africa, the continents largest economy, President Jacob Zuma is paid Sh23.5 million (Rand 2.25 million) a year.
However, it is important to bear in mind that the official salaries of African leaders do not always reflect their wealth.
Equatorial Guineas Teodoro Obiang Nguema, for example, is among the worlds richest leaders despite his modest salary standing at around Sh350,000 a month.
Macedonias President Branko Crvenkovski at a monthly salary of Sh124,800 ($1,600) is believed to be the lowest paid leader in the world. He therefore earns a total of Sh1,497,600 a year.
President Evo Morales of Bolivia follows closely with a salary of Sh1.5 million (£20,000) a year. In 2007, Morales surprised many when he slashed his salary by more than half, and declared that no Cabinet minister could collect a higher wage than him and that savings would be used to hire more school teachers.
Corporate executives
Despite the huge amounts earned by some of the worlds leaders, they are dwarfed by the top-paid corporate executives.
Forbes, the respected American business magazine, earlier this year ranked IT major Oracles chief Larry Ellison as the top-paid CEO in the US with an annual package of Sh14.8 billion ($192.92 million) a year. This equivalent to Sh1.2 billion monthly.
Besides, there are said to be over 500 corporate executives in the US drawing a monthly salary of more than $1 million. The differences in earnings of the world leaders do not reflect the sheer privileges that go with their jobs.
Despite earning less than President Kibaki, President Obama holds sway over world affairs. He is the leader of the worlds greatest civilization, managing an economy estimated at $15 trillion.
Obama is commander-in-chief of the most powerful army and with his signature and the press of a button, he can initiate a nuclear war.
Perhaps it is in recognition of the immense power that the American presidency wields that activities at airports and communication facilities come to a standstill whenever one of his senior subordinates comes calling.
The comparative salaries of world Presidents can today be revealed.
And interestingly, Kenya is among the chart-topping nations in terms of remunerating its leaders, with President Kibaki toppling many of the worlds richest states.
President Kibakis annual salary and benefits top the earnings of President Barack Obama
of the United States, the worlds most powerful nation, by more than Sh3 million a year. It also overshadows that of leaders of other world leading economies such as Germany, Russia, Japan, Canada, the United Kingdom and Australia.
At Sh2 million a month ($26,000) basic salary, President Kibaki earns Sh24 million ($312,000) a year, slightly higher than German Chancellor Angela Merkels $303,000. Germany is Europes largest economy, and the worlds fifth.
President Kibakis salary also tops that of the Prime Minister of the United Kingdom a trillion-dollar economy Mr Gordon Brown
who earns $279,000 a year. This translates to Sh1,787,925 per month.His counterpart, Mr Stephen Harper of Canada, another affluent and high-tech trillion-dollar class economy, takes home $246,000, some $3,000 more than that another high-flying economy Japan whose leader Yukio Hatoyama gets $243,000.
Australian Prime Minister Kevin Rudd is paid a "paltry" $229,000 in comparison.
These figures are, however, not inclusive of bonuses and other emoluments that world leaders are entitled to.
Kibaki earns another Sh1.2 million ($15,596) in benefits monthly, which translates to Sh14.4 million ($187,158).
President Obama gets an aggregate compensation of Sh30,776,000 ($400,000) a year, which is higher than Kibakis.
In addition, he gets an expense allowance of $50,000 towards costs related to the discharge of his official duties, which takes the US Presidents total to Sh34,623,000 ($450,000), which is still less than President Kibakis Sh38.4 million ($499,000).
Obama has a further $100,000 for official travel and $19,000 for entertainment. We couldnt get details on President Kibakis expenditure on official travel and entertainment.
Singapore
However, Kibakis earnings is loose change in comparison to what the Singaporean Prime Minister, Lee Hsien Loong, is paid.
Loong, who came to office in 2004, earns a whopping Sh289 million a year, with Sh190 million being the basic salary and Sh99 million being benefits. That translates to a gross salary of Sh24 million a month.
Prime Minister Donald Tsang Yum-Kuen of Hong Kong comes a distant second with Sh39,701,040 or $516,000 a year. This translates to Sh3.3 million per month.
Europes best paid leader, Prime Minister Brian Cowen of Ireland, earns Sh26,236,540 ($341,000) a year, slightly more than that of Frances eccentric Prime Minister Nicholas Sarkozy, who earns Sh24,466,920 ($318,000) a year, translating to Sh2 million a month.
Back closer home in South Africa, the continents largest economy, President Jacob Zuma is paid Sh23.5 million (Rand 2.25 million) a year.
However, it is important to bear in mind that the official salaries of African leaders do not always reflect their wealth.
Equatorial Guineas Teodoro Obiang Nguema, for example, is among the worlds richest leaders despite his modest salary standing at around Sh350,000 a month.
Macedonias President Branko Crvenkovski at a monthly salary of Sh124,800 ($1,600) is believed to be the lowest paid leader in the world. He therefore earns a total of Sh1,497,600 a year.
President Evo Morales of Bolivia follows closely with a salary of Sh1.5 million (£20,000) a year. In 2007, Morales surprised many when he slashed his salary by more than half, and declared that no Cabinet minister could collect a higher wage than him and that savings would be used to hire more school teachers.
Corporate executives
Despite the huge amounts earned by some of the worlds leaders, they are dwarfed by the top-paid corporate executives.
Forbes, the respected American business magazine, earlier this year ranked IT major Oracles chief Larry Ellison as the top-paid CEO in the US with an annual package of Sh14.8 billion ($192.92 million) a year. This equivalent to Sh1.2 billion monthly.
Besides, there are said to be over 500 corporate executives in the US drawing a monthly salary of more than $1 million. The differences in earnings of the world leaders do not reflect the sheer privileges that go with their jobs.
Despite earning less than President Kibaki, President Obama holds sway over world affairs. He is the leader of the worlds greatest civilization, managing an economy estimated at $15 trillion.
Obama is commander-in-chief of the most powerful army and with his signature and the press of a button, he can initiate a nuclear war.
Perhaps it is in recognition of the immense power that the American presidency wields that activities at airports and communication facilities come to a standstill whenever one of his senior subordinates comes calling.
