Wealthy new governor says he'll accept $175K salary

New Jersey Gov. Phil Murphy speaks during an inauguration ceremony in Trenton, N.J., Tuesday, Jan. 16, 2018. Democrat Phil Murphy became the state's 56th governor, succeeding Republican Chris Christie after he was sworn in at the War Memorial in Trenton Tuesday (AP Photo/Seth Wenig)

NEWARK, N.J. (AP) -- New Jersey's wealthy new governor says he'll be accepting the job's $175,000-a-year salary.

Democrat Phil Murphy is a multimillionaire former Wall Street executive who earned his fortune working at Goldman Sachs.

Murphy replaced Republican Chris Christie after he served two terms.

Christie's predecessor, Democrat Jon Corzine, also was a rich alum of Goldman Sachs. But Corzine took only a $1 salary.

Murphy loaned about $16 million to his own campaign for the Democratic nomination. His 2016 taxes showed he earned $4.6 million, mostly from interest and dividends.

He declined Wednesday to take further questions about his salary. It was his first full day on the job.