United States President Barack Obama’s presidential journey is coming to an end as he leaves the White House in a few days. Considering his net worth, Obama should not mind leaving the office as he leaves a very rich man.
According to a recent study conducted by American University in Washington DC, the Obamas combined could make as much as $242 million after they leave the White House. Although the US President’s net worth is not even close to his successor, his personal wealth would not leave him complaining.
Obama’s net worth is reportedly close to $12.2 million, according to reports. The US President for his day job earned around $400,000 a year throughout his entire eight-year term. Reports state that Obama also receives an annual expense account worth $50,000, a non-taxable travel account worth $100,000 and an entertainment budget of $19,000.
The Obamas are also involved in charity and have donated a sum of $64,066 to more than 30 charities around the world. Although Obama’s net worth is estimated to be of $12.2 million, First Lady Michelle Obama is not far behind him with a total net worth of $11.8 million.
The US President has built his fortune over the years of work as a state representative and as a law school professor. According to Business Insider reports, in 2004, Obama earned a salary of $80,287 from Illinois State Senate and $32,144 from University of Chicago Law School. He also has assets in four different financial funds worth around $50,000 and $100,000 each.
Obama also signed a multi-book deal with Random House in 2005 and received an amount of $1.9 million in advance for the book “The Audacity of Hope,” including royalties. Reports state that he also earned a little over $847,000 from another book he signed including $378,000 as additional book royalties. Reports state that his investments also grew with the addition of a Nuveen Floating Rate Income Fund valued between $50,000 and $100,000.
When he entered the White House in 2008 as the US President, he owned somewhere between $1 million and $5.1 million in US Treasury bills. He also received an award sum of $1.4 million when he won the Nobel Peace Prize, however, he donated the sum to various charities.
