Prior to his election victory, Mr Trump has insisted he will not “take even one dollar” of the $400,000 presidential salary.
Speaking at an event in September last year, he told a crowd in New Hampshire: “The first thing I'm going to do is tell you that if I'm elected president, I'm accepting no salary, okay? That's not a big deal for me."
He reiterated the claims in a Twitter Q&A later that month. When a follower asked: “Will you forgo the presidential salary if elected?” To which he replied: “As far as the salary is concerned- I won't take even one dollar. I am totally giving up my salary if I become president.”
During his campaign, the Republican politician made much of his claims that as a millionaire business mogul he is not bound to the bidding of financial backers. Mr Trump is worth an estimated net $3.7 billion, according to Forbes.
Previous wealthy presidents have donated their salaries to charity after deeming it is not financially neccessary for them to take it as personal income. Herbert Hoover and John F Kennedy both reportedly donated the money to charity.
The US Code, which outlines duties and entitlements for the President, states: “The President shall receive in full his services during the term for which he shall have been elected compensation in the aggregate amount of $400,000 a year, to be paid monthly, and in addition an expense allowance of $50,000 to assist in defraying expenses relating to or resulting from the discharge of his official duties.”