TRUE.
This is a famous anecdote from 1930 when Babe Ruth signed a contract for $80,000 a year during the economic depression. He was told by a journalist that the amount he had demanded was outrageous because it surpassed the $75,000 payment given to the U.S. President, Herbert Hoover at the time. To which Ruth replied: “ Anyway, I had a better year than he did.”