Barack Obama is the antithesis of the struggling writer.
According to The Wall Street Journal, the president’s reported assets are between $4.25 million and “well north of $23 million,” most of which can be attributed to royalties from his two books, Dreams from My Father and The Audacity of Hope.
While those income estimates may be vague, they do hint at Obama’s growing wealth. “The value of his book royalties alone is between $2 million and $10 million,” the Journal reports.
In fact, Obama’s bank account will only get larger in the future. Last year, he received a $500,000 advance (which he split with a publisher) to put out an abridged version of Dreams from My Father, for younger readers. And some have estimated that he will get millions more as an advance whenever he puts out a presidential memoir after leaving office.
That’s a lot of money, especially considering that the Obama family earned just $374,460 in actual wages last year, according to their tax returns. Obviously, that’s a handsome salary, but it seems meager compared to his book royalties.Critics might argue that these figures could hurt Obama’s ability to connect with the average American, but then again, Sarah Palin apparently made $12 million during the past year from books, speaking gigs and her contract to appear as a contributor on Fox News. So I guess we should just accept that some politicians are wildly rich and leave it at that.
Hungry for more politics? Check out our rundown of the worst governors in America.