Net Worth: $7 million
Source of Wealth: law, politics
Born: August 4, 1961 in Honolulu, Hawaii
Barack Obama became rich as a lawyer and politician. He was a community organizer in Chicago for three years before earning his law degree from Harvard Law School. After he got his law degree, he worked as a civil rights attorney at “Davis, Miner, Barnhill & Galland”, a law firm in Chicago. He also taught constitutional law at the University of Chicago Law School for 12 years as a Lecturer.
Obama began his career in politics 1997 as a member of Illinois Senate. After that, he was a United States Senator from 2005 to 2008. In November 2008, he was elected the 44th President of the United States.
How much money does Barack Obama make?
As president of the United States, earns a $400,000 annual salary, along with a $50,000 yearly expense account, a $100,000 nontaxable travel account and $19,000 for entertainment. Most of Obama’s fortune is held in U.S. treasurys, worth about $3.5 million. He has nearly $$660,000 in cash, $625,000 in ETFs and mutual funds, including $90,000 in a State of Illinois pension fund, as well as $300,000 in college funds for his kids.
The President’s book royalties from “Dreams From My Father” and “The Audacity of Hope” are a big source of his income. In 2009, Obama’s gross book sales were nearly $5.7 million and $1.6 million in 2010. In 2012 he will make between $150,000 and $1 million from book sales. This figure is lower in part because Obama is giving away much the earnings from his third book, “Of Thee I Sing: A Letter To My Daughters” to charity.
Obama has a house in Chicago worth $1.65 million.