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World leaders frequently rub shoulders with the rich and famous, but does that mean they themselves can be counted among this category of people?

As Statista’s Katharina Buchholz details below, based on data taken from the website PoliticalSalaries.com, the answer is ‘it depends’.

Among current world leaders is one income millionaire: Lawrence Wong, the prime minister of Singapore. He brings in an annual salary of the equivalent of almost $1.69 million, which makes him the best-earning world leader. His remuneration places him far ahead of second-ranked Viola Amherd, president of Switzerland, who earns upwards of a converted $570,000 per year.

Year is indeed singular for Amherd, who started her term on January 1 and will end it on December 31. Swiss presidents are members of the country’s government cabinet voted in by the Swiss parliament for one year at a time. The cabinet consists of seven council members who can be re-elected, so it is possible that Amherd will serve another well-paid term as Swiss president in the future.

Many of the remainder of the world’s best-paid political leaders hail from Anglophone countries, including the American president, who earns $400,000 annually. As of August 29 currency conversion rates, this was less that what Australian Prime Minister Anthony Albanese is making, but more than what the Prime Ministers of New Zealand and Canada, Christopher Luxon and Justin Trudeau, are bringing in per year. German-speaking countries also pay their leaders well, with Austrian Chancellor Karl Nehammer making slightly more than his German equivalent, Olaf Scholz.

Including leaders of non-sovereign entities, Hong Kong is applying a similar approach to Singapore’s, paying its current Chief Executive John Lee Ka-chiu the equivalent of almost $700,000 annually. While Singapore’s founding father Lee Kuan Yew was a proponent of competitive public sector pay, Hong Kong’s high remuneration has been tied to its history of high pay for colonial governors. Another leader that doesn’t helm a country, but is still handsomely rewarded is Ursula van der Leyen, the president of the European Commission. She is bringing in one of the European Union’s highest salary of approximately $358,000 per year.

Taking a different approach to determining the highest-paid world leaders on a level relative to their countries’ economic prowess, Kenyan President William Rutto is the biggest earner, bringing in the equivalent of almost 2,000% of his country’s per-capita GDP in 2023.

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On the basis of 2023 average exchange rates, Rutto made the equivalent of $126,000 last year. This is in stark contrast to Kenya’s GDP per capita of just $6,300 annually. The Presidents of Tanzania and South Africa, Samia Suluhu Hassan and Cyril Ramaphosa, also crack the 1,000% mark, while aforementioned Singaporian Prime Minister Lawrence Wong and his $1.7 million salary stand at 1,158% of the per-capita GDP of the city state of $141,500.

Viola Amherd of Switzerland, Anthony Albanese of Australia and Christopher Luxon of New Zealand also reappear among the world leaders with the highest relative salaries, while U.S. President Joe Biden comes in rank 9 at a salary standing at 490% of per-capita GDP in 2023.

Intel and Japan are teaming up.

In fact, the Japanese national research institute is going to be teaming up with Intel to “build a research and development center in Japan for cutting-edge semiconductor manufacturing technology”, according to a new report from Nikkei Asia.

Japan’s National Institute of Advanced Industrial Science and Technology (AIST), under the Ministry of Economy, Trade, and Industry, will establish a new facility in three to five years equipped with extreme ultraviolet lithography (EUV) technology.

Intel will contribute its expertise in chip manufacturing using EUV. The center, the first of its kind in Japan, will allow equipment and materials manufacturers to pay a fee for prototyping and testing.

Nikkei reports that the initiative aims to strengthen Japan’s capabilities in the chip manufacturing sector, with total investment expected to reach hundreds of millions of dollars.

EUV (extreme ultraviolet lithography) is crucial for semiconductor manufacturing at scales of 5 nanometers and smaller, allowing more transistors to fit on a chip and increasing computing power.

And EUV equipment is expensive, costing over 40 billion yen ($273 million) per unit, making it a significant investment for suppliers of materials and equipment.

The U.S. has tightened restrictions on EUV-related exports to China amid growing strategic competition with China, slowing the return of research data to Japan. Having EUV equipment available at a domestic research facility will reduce this barrier, according to the report. 

ASML Holding, based in the Netherlands, is the leading manufacturer of EUV lithography equipment. However, semiconductor production involves over 600 steps, requiring a broad range of specialized equipment and materials.

Japanese companies like Lasertec dominate the EUV inspection equipment market, and firms like JSR specialize in photosensitive materials for silicon wafer circuits.

Intel aims to strengthen ties with these Japanese suppliers through the new research center.