President Barrack Obama rose from a middleclass American citizen in 2004 to become a multi-millionaire at the end of 2010 through well-focused investment and returns from savings, treasury notes and royalties.
As at 2004, his salary as a Senator from Illinois State was $80,287 and he also earned $32,144 as a lecturer at University of Chicago Law School.
After the Democratic National Convention of 2004, Obama struck a deal for two books – The Audacity of Hope and Of Thee I Sing (children nonfiction book).
In January 2005, he received his first million of $1.9 million as advance for The Audacity of Hope. The breakdown of the deal was: 15% on all hardcover copies, 7% on all paperback copies and 10% on all Audio books sold.
By 2005, President Barack Obama receive $378,237 as royalties from his literary agent for the book he wrote in 1995 – Dreams From My Father. As at that year, he was worth over $2 million.
In 2006, he received $147,490 for Dreams From My Father and on The Audacity of Hope he got $425,000.
In 2007, he received $815,971 for Dreams From My Father and $3.28 million on The Audacity of Hope.
He saved $174,000 per year as a Senator for four years and that was $696,000.
As an investment conscious man, he invested all the money he received through royalty and savings on Treasury Notes, Bonds and Mutual Funds.
As the President of the United State of America, Barack Obama earns $400,000 per annum.
By the end of 2010, Barack Obama was worth more than $10 million.