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Billionaire Donald Trump, former US president who declined salary, accepts pension: Report

Moneycontrol logo Moneycontrol 18-05-2021 Jocelyn Fernandes
Donald Trump standing in front of a flag: Billionaire Donald Trump, former US president who declined salary, accepts pension: Report © Nachiket Deuskar Billionaire Donald Trump, former US president who declined salary, accepts pension: Report

Former United States President Donald Trump has received over $65,000 in pension since he left the post after Joe Biden’s victory, as per reports. Trump’s net worth is estimated at $2.4 billion, according to Forbes.

As per a Business Insider report, a spokesperson for the General Services Administration ‘confirmed’ that Trump had got as much as $65,600 in pension payments since leaving office in January.

Moneycontrol could not independently verify the report.

Trump spokesman Jason Miller did not respond to queries, the publication added.

It is unclear at present whether the pension is being accepted or donated. The latter would be a significant decision because as Trump donated his salary to institutions such as the National Park Service – a follow through on his campaign promise to not accept taxpayer funded salary.

As per the US Constitution, former presidents are entitled to pensions but are ‘not obliged’ to accept a pension, the report noted. Their pay is equal to the salary of Cabinet secretaries, which is $221,400 in 2021.

Donald Trump is entitled to an annual pension of $221,400, CNN reported. In addition, he is also qualified to receive perks worth $1 million for staff salary, office space, travel allowance and so on. In 2020, former US Presidents Bill Clinton, George W. Bush and Barack Obama each had more than $500,000 in office rent covered, the publication added.

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