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How Barack Obama Increased His Net Worth to $70M After Leaving Office

It’s been over four years since former President Barack Obama was in office. During his term he earned the standard $400,000 salary that Business Insider reports every commander-in-chief receives. The business endeavors he made after leaving office, however, were a large contribution to his now $70 million net worth, according to International Business Times. Before Obama took office, he made about $165,000 a year as a senator of Illinois, according to NBC News. During that time he published several books and took off as an author, profiting over $500,000 from author fees in 2006 alone. Years before running for president, his combined income with his wife Michelle Obama, who at the time worked at the University of Chicago Medical Center, was $1.6 million. While in office, a president has a $50,000 annual expense account, $100,000 nontaxable travel account, and $19,000 for entertainment, in addition to their $400,000 salary, according to Business Insider . The former president now...

Dec 11, 2020