Being the President of the United States is very profitable. From 1901 to 1909, Theodore Roosevelt served two terms as President of the United States and earned an annual salary of $75,000. Over 100 years later, that figure seems small in comparison to the salary of our current President Barack Obama. But is it enough?
So, how much does President Obama make?
In terms of salary, President Obama gets $400,000 a year. But that is only part of his total income. Here is a breakdown of just where President Obama gets his money:
- 46 percent - comes from salary
- 53 percent - comes from book royalties, such as advances on his autobiography which, along with other books, cannot be released while he is president
- 1 percent - comes from Treasury bills and notes
One must also take into consideration the fact that the President does not have expenses for a home, car, food and other necessities. In addition, his other income sources include:
- Speaking engagements - run about $500,000 to $1 million per speaking engagement
- Expense account - $50,000
- Travel account - $50,000
- Entertainment account - $100,000
- Other expense account - $100,000
Once the President leaves the White House, his net worth is expected to be about $14 million and is also estimated to grow to $100 million. However, take into consideration that President Obama's job is 24/7, and he is responsible for all citizens of the United States. That is a heavy responsibility. In addition, in comparison to what some athletes and sports stars earn, his income is small. He also pays taxes that run over $100,000 per year.
So, what do you think? Is he underpaid or overpaid?