In his role as president, Welteke was one of Germany's best-paid public officials, with an annual salary of 350,000 euros ($424,000). When the introduction of the physical euro took place on December 31, 2001, Welteke visited Berlin with his family for the celebration, and his stay at the Hotel Adlon was paid for by Dresdner Bank. In 2003, BMW, which owns a bank, paid for Welteke to spend a night on a yacht during the Monaco Grand Prix. Controversy over these incidents led to Welteke resigning from Bundesbank in April 2004.