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Obama's Net Worth--2013 Updates

April 11, 2013, last updated May 14, 2013
By Michael P. Delhomme, Contributing Columnist
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[Editor's Note: The Obama's net worth,a s calculated from their tax returns over the
years, has fallen precipitously, based on a Federal financial disclosure filed May 14, 2013.
We included these changes in an update following this article below.]

President Obama had a bad year in 2012. Not that he’s poor –
his adjusted income of  $662,076 tucks him safely within the
ensconces of the Top 1% but, compared to the income he
reported in the first two years after being elected, the trend is
pointing downward.  

In 2009, Obama reported total income of $5.5 million, most of
that from sales of his best-selling memoirs.

Back then, almost any book about the fresh-faced political
phenom flew off the shelves of Barnes and Noble, depositing  a
flood of dollars into the Obama’s coffers.  

Today, not so much.  Whether due to Obama-fatigue or just
fatigue with politicians in general, sales of Obama’s books have
fallen off their own fiscal cliff.  

In 2012, Obama’s book sales were a relatively paltry $258,772 –
quite a come down from the giddy heights of 2010. Back then,
Obama earned over $4 million in book sales. Last year's total
was steeply down, to $441,369. This year's total thus
represents a further decline of $182,597, a drop of 70% in just
one year. Clearly, the gas has all but run out of his book-selling
machine.

Based on the tax returns released by the White House in April
2013, here are the other components of the First Family’s
income:

1.        
Salary as President.  President Obama’s salary is fixed at
$400,000 a year.  Obama declared $394, 840 of this salary in
2012. The First Family’s other income is the $400,000 salary
Obama earns as President.

2.        
Interest Income. Here , the Obamas earned $11,462
from an investment in Northern Trust Government Securities. A
review of the current Northern Securities Offerings suggest that
the interest rate on this investment is  2.47% per annum, which
implies that the size of the Obamas portfolio in this securities is
approximately $464,000.

3.        
Book Sales. President Obama received $258,772 in
income from the sales of his two memoirs.  

On the expense side, the Obamas paid $45,046 in mortgage
interest, had charitable contributions of , paid $63,305 in state
and local real estate taxes, and $150,034 in charitable
deductions). To this we add an estimated $150,000 in
additional personal expenses (tuition for their daughters' school
etc), giving them total personal expenses of $408,385.

We subtracted this from their total income of $662,076, leaving
$253, 691 in savings.


Thus, this amount is added to their last year’s net worth of
$11,473,336, bringing their 2013 estimated net worth total to
$11,727,027.



Barack Obama Current Net Worth (through December 31, 2012,
reflecting 2012 tax return data):

$11,727,027

[Update:

According to Federal financial disclosure forms signed by
President Obama in May 14, 2013, his net worth has plummeted.

President and Mrs. Obama released financial disclosure forms
which show that his assets between net worth is between $1.8
and $6.8 million.

This is steep fall from the amount of assets they held at the
peak of his earnings, when his books were selling well. Given
that his personal expenses are much less than most ordinary
Americans because he is President -- no rent to pay for his stay
in the White House or travel on Air Force One or meals at the
White House ---his current financial disclosures have many
scratching their heads. What happened?

Here are the Obama's assets, given in ranges so it makes it
difficult to ascertain exact figures:

1.
Cash. These forms show that the President and First Lady
have between $250,000 and $500,000 in a JP Morgan Private
Client Asset Management Checking Account.

The Obama's also have between $1,000 and $15,000 in a
Northern Trust Checking Account.

2.
Retirement. The Obamas have between $50,000 and
$100,000 in a State of Illinois pension plan, presumably from
his stint as a state senator. They also have between $100,000
and $250,000 in a Vanguard 500 Index Fund.

3.
Treasuries. The Obamas have between $1 million and $5
million in Treasury notes.


The only liability listed was a 30-year 5.625%  mortgage of
between $500,001-$1 million on their Chicago house.






















Estimates of the Obama's net worth have declined dramatically
over the last 3 years, from a top optimistic range of $11 or so
to now a low estimate of $1.8 million. Most of that decline can
be explained the decreasing popularity of Obama's books,
which had been the main engine of his net worth.

Those who worry about the declining personal fortunes of the
President needn't worry for long. If he follows the well-worn
path to the speaker's circuit set by Bill Clinton, Obama can
expect to collect over $100 million in speaking fees, paid by
corporations friendly to his administration.





Sources: 2013 Federal Financial Disclosure forms, Tax Returns,
2012,2011,2010, 2009, 2008, 2007, 2000-2006, released by
Obama campaign and White House



Related:
Obama Net Worth/ Obama Net Worth 2011/ Obama
Net Worth 2010/ 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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