Thats what I am reading mate, i don't know what he is actually getting but its being reported he is on 250k. Seems rather low to me but i can only deal in whats in the public domain.
I will point out that it is what I predicted!
It's only that high because it's Real Madrid too... an English team could probably have got away with less as there is less precedent for Premier League kids getting more. Real have painted themselves in a corner as having got a reputation of paying whatever you ask for so you have more negotiation room when dealing with them.
You typically don't have to offer £400k per week when you can triple their salary for less than that. Very few people his age have ever got more than that and they were higher profile on a global stage. Bellingham is the buzzword player in England, but I don't think he's the same household name in other countries. To get £400k a week you have to be a global household name and the club is buying you will be buying you as much for your profile as they are your actual ability. Jude's not there yet.
Kids are also a massive risk because they're still developing and their injury potential is still a big unknown. Keep on improving like he has, stay injury free, and with Real Madrid improving his fame, he'll be a 400kpw player one day.