The process of becoming a millionaire by President Barack Obama

Posted on September 13, 2012

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Wednesday, 12/09/2012 10:00
laodong.
After four years as president, private income from Barack Obama’s salary up to the number of million dollars. Not to mention, Obama gained a huge amount from writing books, bonds, stocks, etc.
Here is the timeline for the process to go up 1 average-income people become millionaires by U.S. President Barack Obama.
As a state senator Illinois, only 5 figure income

According to the financial report in 2004, U.S. President Barack Obama has three sources of income.

Part of their income to from wages 80.287USD/nam when holding the Illinois senator.

Sources is wages 32.144USD/nam while teaching at the University of Chicago Law.

The rest comes from the salary of his wife Michelle when she was the director of the University of Chicago Hospital.

Start investing bonds, shares
Obama to invest the proceeds from his autobiography, “Dreams From My Father” and income as a lawyer to?

In 2004, two spouses Obama has invested in three different asset classes, including the Illinois pension fund investment value from 50,000 to 100,000. 2 remaining provisions into the fund at Vanguard, an investment management company.

Obama has investments worth about 100,000 to 200,000 in a mutual fund Vanguard Wellington. 60 – 70% of the portfolio of the Wellington Fund shares and the remaining 30 to 40% bonds.

Obama also invested 50,000 – $ 100,000 in Vanguard Wellesley Fund. Funds tend to stock more than most other funds, with about 2/3 of the list of bonds and 1/3 shares.

Large profits from the book

In 2004, Obama delivered a speech impressed at the Republican convention as a candidate running for the Senate. Called “The Audacity of Hope,” (roughly translated: daring Hope), this speech that Obama is everyone’s favorite for many years before the election campaign.

At the same time, then Obama has signed a contract with Random House publishers and royalties from this book really is the major source of income.
Obama has published two non-fiction books (nonfiction), and one children’s book. Autobiography “daring Hope” is an expanded version of a speech in 2004. The proceeds from a children’s book called “Of Thee I Sing” (I’m singing) will be taken to charity.

His “daring Hope” Obama earned $ 1.9 million. Obama also won a Grammy for reading version of this book.

Investment in bank
By 2005, there are many accounts in banks, including JP Morgan.

When more money, Obama is a place that offers investment. Obama has accounts at asset management company JPMorgan Chase personal worth several hundred thousand dollars. In addition, the U.S. President have an account valued at from 250,000 to 500,000 in the Northern Trust.

Copyright amount Dystel & Goderich pay for he is 378.237USD, while a contract with Random House Publisher bring 847.167USD.

Thus, the proceeds from the book are in the range of 1.1 to 2.5 million.

Buy Treasuries
From 2006 to 2007, Obama used the proceeds from the book to buy large amounts of Treasury bonds.

In 2006, Obama get 147.490USD from the book “Dreams from father” and 425.000USD from book “daring Hope”.

In 2007, when Obama urgently race for the White House, the amount skyrocketed. He obtained turn 815.971USD and $ 3.28 million for two books.
With the huge amount of collected, Obama spent 500,000 to $ 1 million to buy large amounts of U.S. Treasury bonds. At the same time, the money from two funds Vanguard Wellington Fund be transferred to the Vanguard FTSE Social Index Fund – a fund portfolio focuses in the areas of social, human rights and the environment.2008 presidential election, Obama continues to give millions of dollars to buy U.S. Treasury bonds.

Closer to the time of the inauguration, Obama holds worth of treasury bonds from 1.1 to 5.1 million – a large portion of total assets. Other assets valued at 411,000 to 915.000USD.

President salary

Salary for U.S. President is 400.000USD/nam. So, after four years as president, Obama has 1.6 million. At the same time, the role of senator, Obama paid 174.000USD/nam and have total plus the following 696.000USD 4 years.

In short, in time for the federal government, Obama pre-tax income of $ 1.1 million.

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