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New study reveals the poorest presidents of Europe

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Nataša Pirc Musar, President of the Republic of Slovenia
Nataša Pirc Musar, head of the Republic of Slovenia, is the poorest president in Europe, study says | Photo: Matjaz Klemenc

Slovenia has the poorest president in Europe. Relative to average salaries, the presidents of Ukraine and Serbia follow closely as the second and third poorest on the continent. Across Europe, heads of state earn 4.1 times as much as the average earner and cost taxpayers €49.62 per hour. 

This is according to a new study by Slot.Day, who analysed the average gross salaries, GDP per capita and presidents’ earnings across 31 countries in Europe. The researchers used the latest available data from national statistics offices and the Organisation for Economic Co-Operation and Development (OECD), ranging between 2022 and the third quarter of 2023. GDP data is sourced from the International Monetary Fund’s (IMF) World Economic Outlook, published in October 2023. Head of state income estimates are based on independent media reports, national legislation, government and presidency websites, income statements and official government communication. 

Europe’s poorest president lives in Slovenia. The president earns almost as much as any average employee in the country. The head of state has an estimated gross annual income of €44,701, only 3% higher than the current average salary in Slovenia – €43,342. An hour of the president’s time costs taxpayers €23.41 before deductions – one of the top 10 cheapest hourly pays for presidents in Europe. Slovenia is a country of medium wealth, whose GDP per capita (US$32,350) is slightly below the European average of US$34,710 for 2023, according to IMF estimates. The Slovenian president’s work is worth 1.5 of the country’s GDP per capita.  

Ukraine has the second lowest-paid president in Europe, relative to other average earners in the country. Based on official government communication, the Ukrainian president’s gross annual salary in 2023 was only €8,134, which is 1.63 worth of any average earner in the country. This is the lowest pay of any president in Europe, costing Ukrainian taxpayers only €4.26 per hour, before deductions, to carry out all their duties as head of state. Ukraine’s current GDP per capita is also the lowest in Europe, estimated at €5,245 for 2023. The president earns only 70% above that. 

Serbia’s president is the third poorest in Europe. With an hourly compensation of just €10.77, before tax, the head of state earns €20,564 per year. This is worth only 1.68 of the average salary in Serbia, estimated at €12,258. Serbia’s GDP per capita is the eighth lowest in Europe (US$11,301), and the president’s salary is almost double this amount. 

The presidents of Lithuania and Montenegro earn under two average salaries in their countries, while those in Croatia and Moldova earn just above this level. Finland, Latvia and Bosnia and Herzegovina complete the top 10 poorest presidents of Europe. Finland is the only country in Slot.Day’s ranking whose GDP per capita (US$54,507) is well above the European average (US$34,710).  

Richest presidents 

The richest presidents in Europe live in Bulgaria, Slovakia and Ireland when comparing their official incomes to average salaries.  

EuroNewsweek is a dynamic news platform featuring lifestyle, sustainability, successful stories, tech, leadership, creative marketing, business, and the unstoppable people behind them.

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West Ham signs Brazilian winger Luis Guilherme 

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West Ham signs Brazilian winger Luis Guilherme
The 18-year-old completed his transfer on Friday 14 June when the summer transfer window officially opened.

West Ham United has announced the signing of young Brazilian winger Luis Guilherme from Palmeiras on a five-year contract.

The 18-year-old completed his transfer on Friday 14 June when the summer transfer window officially opened.

He is considered one of the most exciting prospects in South American football and has already made 40 senior appearances for Palmeiras, won the Brazilian Série A title, played in the Copa Libertadores and been capped by his country at Under-20 level.

A technically gifted attacking player blessed with searing pace and acceleration, elusive dribbling skills and a superb left foot, Luis Guilherme is a hugely promising talent who was identified as a priority target by Technical Director Tim Steidten and Head Coach Julen Lopetegui.

The teenager will link up with Lopetegui and his first team squad for pre-season training in early July, and is looking forward to showing what he can do in Claret and Blue.

“I’m very happy to be signing with West Ham United, a Club that trusted in my work,” said Luis Guilherme. “I also want to thank everyone at West Ham, particularly Tim and his team who came to Brazil, and not only talked with me, but also with my family. 

“They presented the project, and both my family and I liked it. So, I’m very happy to be signing with this Club and hope to contribute as much as possible. If things go well, we have a beautiful journey ahead.

“The Head Coach and I already had a conversation. He showed me his project and I believe I’ll learn a lot from him. He’s coached at the national level in Spain and managed big clubs.

“The Premier League is the best league in the world. I believe I’ll improve a lot here with the entire staff at West Ham, which is crucial for my development.

“Growing up, whenever I had the chance, I watched English football. Seeing how it is and now being able to play here is an incredible feeling.

“Since I was eleven, I had this dream, and now it’s becoming a reality. I’m very happy about it and grateful to West Ham. Let’s go for it!”

“Luis is obviously still very young, but we have no doubt that he is ready to make an impact in the first team here. He is coming to a great environment, where he will be surrounded by other exciting young players and good people who will support him every step of the way.

“We will look after him, help him and his family to settle in and allow him time to adapt. But we are very excited about his immediate potential and are looking forward to seeing the progress he can make at West Ham United.

“This is a very important signing for us – we’ve worked hard across the Club, working closely with the Board, to secure Luis’s signature. We know how the tough the Premier League is, and we want a squad that is competitive next season, but also to find the balance of ensuring that we plan for the longer-term future. Exciting young players like Luis Guilherme will help us to reach those goals.”

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Tosin Adarabioyo to join Chelsea

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Tosin Adarabioyo to join Chelsea
Born in London but raised in Manchester, Tosin began his career with Man City at the age of five.

Centre-back Tosin Adarabioyo will join the club ahead of the 2024/25 season.

The 26-year-old has signed a four-year contract – which begins on July 1 – and arrives from west London neighbours Fulham.

After signing for the Blues, Tosin said: ‘Chelsea is a huge club and this is a full-circle moment for me. I was born three miles away from Stamford Bridge and made my professional debut there.

’I’m very excited and looking forward to helping push the club in the direction we want to go.’

Co-sporting directors Paul Winstanley and Laurence Stewart said: ‘We are delighted to bring Tosin to Chelsea. Throughout his career, he has showcased his maturity and defensive qualities and has gained a wealth of experience in the Premier League in recent seasons.

’He is ready to make the step up to Chelsea and work alongside the talented players in our squad. We look forward to Tosin joining up with us for pre-season.’

Born in London but raised in Manchester, Tosin began his career with Man City at the age of five. He moved through the club’s youth ranks and regularly captained the Under-18s at 16 years old.

His professional debut arrived in February 2016 at Stamford Bridge. Tosin started for a youthful Man City side in the FA Cup and went on to make seven more first-team appearances across the following two campaigns.

Season-long loan spells in the Championship with West Bromwich Albion and Blackburn Rovers were enjoyed before Tosin left Man City permanently to join Fulham in October 2020.

Tosin’s first campaign as a Premier League regular yielded 33 appearances and much praise for his adaptation to the top flight. He featured for Fulham on 44 occasions the following season and played an important role in the club securing promotion from the Championship.

He has gone on to make 45 top-flight appearances since Fulham’s return to the Premier League, helping the Cottagers finish tenth and 13th respectively in the past two seasons.

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Emma Ellis promoted to President of Interbrand London

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Emma Ellis promoted to President of Interbrand London
Emma was previously Managing Director, Interbrand London

Interbrand, the world’s leading brand consultancy, has announced the promotion of Emma Ellis to President, Interbrand London. She will report to Interbrand’s Global CEO Gonzalo Brujó. 

Emma was previously Managing Director, Interbrand London and will succeed Christian Purser in this role.

With extensive experience in branding and business strategy, Emma will lead the London office at a time of significant growth for the UK and will be responsible for the commercial growth of the London business while championing client excellence. As a role model across Interbrand’s global network, Emma’s responsibilities will also involve continuing to build and drive an inclusive culture that empowers teams to create game-changing work.

Over her 11-year tenure at Interbrand, Emma has held four positions, starting in client services before heading into a growth role and rising through the ranks of the Executive Committee. After returning from maternity leave, Emma took the helm as Managing Director, where she broadened her remit from client experience to encompass growth and culture. 

Emma has spent almost two decades collaborating with many of the world’s leading brands and businesses, and has led and delivered innovative and strategic partnerships for clients including LEGO, Siemens, Axa, Asos, Dr Martens, Vodafone, Unilever and Sony. 

Alongside her role at Interbrand, Emma is a founding member of CHIEF UK and a champion of Brixton Finishing School.

Commenting on her promotion, Emma Ellis said: “I am thrilled to take on the new role of President here in London having spent over a decade helping grow the business in the UK. 

I am eager to combine the strengths of creativity and technology to enhance our brand offer and continuously improve with our people for our clients. We will continue focusing on the culture we have built, placing an even greater emphasis on our team who are the bedrock of our product.”

Interbrand’s Global CEO, Gonzalo Brujó, said: “Emma’s deep understanding and experience in branding and business strategy make her the perfect leader for our London office. Her focus on our people and culture, our work, our technology and our growth are truly reflective of Interbrand’s global mission and values. There is no one more fitting to lead the UK business for its continued success and I am delighted Emma is taking this role.”In June this year, Interbrand will celebrate its 50th anniversary. Throughout those 50 years the company has witnessed significant growth, transforming some of the biggest global brands including General Electrics, Bugatti, KIA, Microsoft, BMW, Nike, Starbucks and Volkswagen. This year will also see 25 years of its respected Best Global Brands Report due out in September 2024.

Interbrand has been a world leading brand consultancy for over 5 decades – having pioneered iconic work and forged many of the brand building tools that are commonplace across the industry today.

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