Top investments that increased Barack Obama net worth
11/05/2016 14:39
Before Barack Obama became president of the U.S., he was earning a lot of money from the sale of his books. However, when he became president, his annual income started to drop steadily. This was because of the drop-off in the revenues from previous book deals. His books were not bestsellers anymore and many publishers dropped them from their lists of bestsellers. Now Barack Obama net worth is estimated to be around $12.2 million. In 2013, very few of Barack Obama’s books were sold. The royalties from the sale of those books were estimated to be less than $170,000. This figure was a huge drop from 2010 when royalties from the sale of his books stood at $1.1 million. This is according to his financial disclosure of 2014.
Barack Obama has over the years made investments in different assets. For example in 2004, he invested in the Illinois State Senate Pension Fund. This was listed to be worth between $50,000 and $100,000. He also made investments in funds and the Vanguard Wellington Fund was his ideal investment vehicle. This fund is valued to be between $100,000 and $200,000. His third investment in 2004 was in the Vanguard Wellesley Fund and he invested $50,000 to $100,000 in the fund. As of January 2005, months after he delivered his famous keynote speech, he scored a book deal that earned him $1.9 million.
By 2005, Barack Obama net worth was starting to shape up and he made investments in various assets. One famous investment he made was with JP Morgan in 2005. At the JP Morgan, Obama was given the JP Morgan Chase Private Client Asset Management account. This account was worth around $100,000. He had a checking account with Northern Trust which was estimated to be between $250,000 and $500,000. He received royalties from his agent Dystel & Goderich and the amount was $378,000. Random House also gave him $847,000. These were royalties for Dreams from May Father.