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Obamas Leave White House Each as Multi-Millionaires

Obamas Leave White House Each as Multi-Millionaires

(SAUL LOEB/AFP/Getty Images)

By    |   Wednesday, 18 January 2017 09:28 AM

Barack and Michelle Obama each leave the White House as multi-millionaires, and reports suggest they could make up to $240 million more as they cash in on post-presidency opportunities.

President Obama’s current net worth is $12.2 million while the first lady is worth $11.8 million, according to CelebrityNetWorth.com.

That's a lot more than they entered the White House with in 2008.

The Obama’s reportedly made $2,656,902 the year he became America’s first African-American president, significantly more than when he was earning $80,000 in salary from the Illinois State Senate and $32,000 from the University of Chicago Law School, where he was a professor, according to GoBankingRates.com.

By 2007, Obama had earned more than $3 million in book royalties. He also added more millions to his name when he acquired a financial fund worth between $1 million and $5 million that same year.

During his presidency, Obama was getting an annual salary of $400,000, plus a $50,000 annual expense account, $100,000 for travel, which was not taxed, and an entertainment budget of $19,000.

According to data collected by Analytics@American, the online business analytics program from American University, the Obamas' combined net worth of $24 million as they leave the White House is miniscule compared to the riches they are likely to amass in the future, a number now pegged at $242 million, said the International Business Times.

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Barack and Michelle Obama each leave the White House as multi-millionaires, and reports suggest they could make up to $240 million more as they cash in on post-presidency opportunities.
obamas, leave, white house, multi-millionaires
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2017-28-18
Wednesday, 18 January 2017 09:28 AM
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