President of Latvia Egils Levits earned almost half a million euros last year

In addition to the President's salary, President Egils Levits also received substantial compensation from the Court of Justice of the European Union (CJEU) and a significant inheritance last year. His total income in 2020 reached 455,587 euros, according to an official's declaration submitted to the State Revenue Service. Given Levits' bank deposits, investments in various funds and the real estate he owns, he can be considered a millionaire.

Most of E. Levits' income of almost 0.5 million euros last year came from compensation from the CJEU, which was 181,611 euros, and the 201,496 euros inheritance left to E. Levits by Dace Valda Ose. Against this, the president's salary - 71,520 euros a year - seems quite modest. Last year, E. Levits also received a small pension from Germany and interest on money deposited with Luminor.

At the end of 2020, his non-cash savings had increased to 436,222 euros, which is 145 thousand more than a year ago, as the declaration for 2019 indicated 290,829 euros.

Last year, E. Levits had invested 811,440 euros in financial instruments, mostly in investment funds.

Last year, the President owned a Mercedes-Benz car manufactured in 2009 and registered in 2019. He owned this car before he took office.

The list of real estate owned by E. Levits is long - two apartments in Riga, plots of land in Mārupe and Engure, an apartment in Cēsis, as well as several plots of land and buildings in joint ownership. In total, the declaration indicates 12 different immovable properties. The 2019 declaration of E. Levits indicated nine immovable properties. As E. Levits did not indicate in his income declaration for 2020 any transaction that would exceed 20 minimum monthly salaries, it must be concluded that none of the newly acquired properties was more expensive than 8600 euros.

Despite significant income and savings, E. Levits incurred debts in the amount of 5496 euros last year. None of his previous declarations listed any debts.

E. Levits has held the position of President since the summer of 2019. When he took office, he had stated in the official's declaration that he had accumulated 298,015 euros and invested 884,981 euros in financial instruments. At that time, he owned two apartments in Riga and one in Cēsis, as well as two land properties in Mārupe municipality, two plots of land and one immovable property building in Engure parish. In joint ownership, the President owned one land property in Riga and a type of immovable property not specified in the declaration. The declaration referred to a total of 10 different properties, including an apartment in Luxembourg which he was renting.

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