He also reported deposit accounts valued between $150,000 and $350,000.Ģ006: Obama reported book royalties of just under $150,000, plus $425,000 off an additional book advance. Meanwhile, his investments grew with the addition of a Nuveen Floating Rate Income Fund valued between $50,000 and $100,000. Also that year he earned just over $847,000 off another book advance, plus $378,000 off additional book royalties. The president also had assets in four financial funds worth between $50,000 and $100,000 each.Ģ005: Obama signed a multibook deal with Random House and received a $1.9 million advance for “The Audacity of Hope,” plus royalties, following his appearance at the 2004 Democratic National Convention.
How exactly did Obama grow his fortune? Here’s a timeline of his earnings over the years, as Chronicled by Business Insider:Ģ004: He earned a salary of $80,287 from the Illinois State Senate and $32,144 from the University of Chicago Law School, where he taught. They also donated a total of $64,066 to more than 30 charities.Īccording to, Obama has a net worth of $12.2 million and Michelle Obama is not far behind with a net worth of $11.8 million. They paid $81,472 in taxes according to their 18.7 percent tax rate. On April 15, 2016, President Obama released his 2015 tax returns, which showed that he and first lady Michelle Obama filed jointly and reported an adjusted gross income of $436,065. The president also receives a $50,000 annual expense account, a $100,000 nontaxable travel account and a $19,000 entertainment budget. President Barack Obama’s net worth: $12.2 millionįor his day job as president, Barack Obama earned $400,000 a year throughout his entire eight-year term - a salary that incoming president Trump has vowed to forgo. Here is a look at Obama as he turns over the presidency, his net worth and plans for the future. While his net worth is nowhere near that of his successor, Obama will leave office a very rich man.īased on a recent study by American University in Washington, D.C., the Obamas could stand to make as much as $242 million once out of the White House. 20, Donald Trump will be sworn in as the 45th president of the United States and the Barack Obama era will officially come to an end. President Barack Obama speaks during his farewell address at McCormick Place in Chicago, Tuesday, Jan.
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