Wealthiest US Presidents: Obama Generating Millions As President
The wealthiest US Presidents of all time do not include President Obama. He’s nowhere near the top 10. But the amount the Prez is making might have him turning “Happy President’s Day” into “Happy Obama Day!”
As previously reported by The Inquisitr, the wealthiest US presidents include George Washington, who sits at the number one spot with $525 million in today’s dollars. Bill Clinton manages to barely make the top 10 wealthiest US presidents list, squeaking in with $125 million. If Mitt Romney had become President, his $200 million would have made him number three.
The site 24/7 Wall St. looked at the net worth of all American presidents and found that Barack Obama has amassed a small fortune, but not enough to be one of the wealthiest US Presidents:
“President Obama is not one of the wealthiest presidents of all times. Yet his net worth increased from $5 million in 2010 to an estimated $7 million, primarily from his book sales. If Bill Clinton is any indication, Obama can expect to make much more money in speaking engagements once he exits office in 2017.”
According to Wikipedia, the presidential office earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 nontaxable travel account and $19,000 for entertainment. OpenSecrets.org says that his estimated net worth is $8.3 million now, with his liabilities, or debts, totaling around $1 million. So obviously the cool several million that President Obama generated did not come from his Presidential salary.
According to US News, before President Obama became the Prez he could have done a better job of managing his own personal finances. Echoing how the President is running the country, Obama increased his lifestyle spending habits and allowed his personal debts to grow larger and larger instead of putting his increased wealth toward paying the debts off.
Obama could have been one of the wealthiest US Presidents if he had managed his personal finances better. Do you think that President Obama might follow the path of Bill Clinton and join the list of the top 10 wealthiest US Presidents?