How did President and Mrs. Obama earn nearly $20 million dollars over the last 13 years?
According to Celebrity Net worth, President Barack Obama is a very wealthy man. He is worth $12.2 million as of 2014, and the amount grows with each passing year. The president’s wealth, most of it, came from two best-selling books that took off in popularity after his 2004 speech at the Democratic National Convention. He is also gaining a great deal of political capital as a president who will soon be able to give speeches for $100,000 each.
Here are a few facts about President Obama’s wealth that you may not know:
1) President Obama once taught Constitutional Law at The University of Chicago.
2) He was the first black president of the Harvard Law Review.
3) Most of his wealth was earned from his two books, “The Audacity of Hope” and “Dreams from my Father.”
4) In 2005, his income grew from $200,000 per year to $1.7 million combined between he and Michelle Obama, his wife.
5) In 2007, his income grew to $4.2 million after his book, “Audacity of Hope” was released and became a best-seller.
6) Currently, President Obama earns $3.75 for every hardcover copy and $1.12 for every paperback he sells.
7) The Obama family has earned $19,225,070 since the year 2000.
8) As President of the United States, Obama also has a $150,000 expense account and gets $100,000 in tax-free travel, along with an entertainment budget of $20,000.