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Obama's Net Worth--Latest Figures

Updated April 16, 2010 (Original March 10, 2010)
By Michael P. Delhomme, Contributing Columnist
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[Editor's note: Obama's net worth has plummeted based on Federal financial  
disclosures made on May 14, 2013. These disclosures are discussed in the
updated to his net worth.]

On April 15, 2010, the White House released the Obamas 2009
tax returns. Based on that release, we have updated our
running tally of Barack Obama's net worth, at $10,111, 249.

Here are our calculations. The starting point for our calculations
is the
Obama Net Worth article, in which we calculate his net
worth based on tax returns released by the campaign and the
Administration .  Based on those documents, we calculated his
net worth at 8,685,781. That figure included $1.4 million in
Nobel Prize money.

On March 10, 2010, we updated that figure based on a  
statement from the White House that President Obama has
given away the $1.4 million to charity.

Then came the April 15, 2010 tax returns. The returns showed
that in 2009, Barack Obama earned $5,505,409. Of that
amount, he paid, $1.792,414 in Federal taxes, $ 163,303 in
Illinois state taxes, and $329,100 in charitable contributions,  
leaving him with a maximum disposable income of $3,220,592.  

Not all the disposable income will flow into net worth, only his
savings. But we calculate that Obama will have relatively few
personal expenses.

His housing expenses are zero because he and his family live at
the White House.  Babysitting or nanny services are presumably
not needed or covered by the President's mother-in-law, who
also lives at the White House. The official state dinners are
covered by the government but the family's  daily grocery bills
are deducted from the President's salary.

His travel expenses are also covered by the government.
Technically, only official travel is intended to covered by we
found no official release of personal travel expenses picked up
by the Obamas. So , for now, we will assume that all the trips
the family takes are at taxpayer's expense.

President has a personal trainer, Reggie Love. We are not
deducting the cost of the personal training sessions with Reggie
Love, because we understand from Obama press releases that
Reggie Love has been  included as a White House personal
staffmember. He earns $102,000 from the government anually
as a "Personal Aide to the President".

Based on these assumptions, we deducted only the estimated
expense of private tuition for his 2 daughters and an reasonable
assumption of 37.5% of his Presidential salary of $400,000
(actually $374, 460, since he took office on January 20, 2009,
not Januaary 1) to cover clothes, personal entertainment, hair
care and personal grooming expenses and the like.  

Thus, from the disposable income of  $3,220,592, we subtract
$150,000 in personal expenses from the Obamas pockets,
leaving savings of $3,070,592 from 2009.  We add this to his
2008 estimated net worth of 7,040, 386, giving him a current
net worth of $10,110, 978 as of the end of 2009. Sweet.

Barack Obama Current Net Worth (through 2009, reflecting
2009 tax return data):


By the way, here is the list of the 10 charities that will share the
$1.4 million prize money:

- $250,000 to Fisher House, a national nonprofit organization
providing accommodation for families of patients receiving
medical care at military and Department of Veterans Affairs
medical centers.

- $200,000 to the Clinton-Bush Haiti Fund, which was set up in
the aftermath of the Haitian earthquake to help survivors.

- $125,000 to College Summit, a national nonprofit organization
to increase college enrollment rates.

- $125,000 to the Posse Foundation, which awards scholarships
to promising public high school students.

- $125,000 to the United Negro College Fund.

- $125,000 to the Hispanic Scholarship Fund.

_ $125,000 to the American Indian College Fund.

- $125,000 to the Appalachian Leadership and Education

- $100,000 to AfriCare, which promotes health, food security
and access to water primarily in Africa.

- $100,000 to the Central Asia Institute, which funds education
and literacy, especially for girls, in remote regions of Pakistan
and Afghanistan.

Sources: Tax Returns, 2009, 2008, 2007, 2000-2006 released
by Obama campaign and White House (2008, 2009)

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Now, you know half the story, enough for half an opinion. Find
out what Obama's estimated net worth will be after his first
term in office and what other world leaders make
: What
Politicians Make /Ten Signs You Are About to Be Fired / The
Sacred 90 Minutes in Obama's Day

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Only $150,000 now but win or lose
estimates for Obama's back-end
money are massive. His may earn over
$100 million after he leaves office
President Bush and Sarkozy of France
(in car) and Gordon Brown of the U.K..
Bush has a net worth of between $20
and $30 million. That will balloon if he
joins the lucrative speech and book
circuit that have earned the Clintons
$109 million since Bill Clinton left office.
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