[dropcap]W[/dropcap]ASHINGTON DC – With a net worth of $12.2 million, President Obama is earning $400,000 salary each year and also received an expense allowance of $50,000.
As the leader of the free world, President Obama gave back 5% of the salary he was making in 2013 in order to lessen the blow that government workers were experiencing to their own salaries.
The 5% salary that President Obama gave back was put into the U.S. Treasury to show the country’s government workers that he was concerned about their financial struggles due to cuts to their salary. This 5% translated to an extra $20,000 put back into the U.S. Treasury.
Back in 2011 President Obama and Michelle Obama, First Lady of the U.S. had close to $790,000 when it came to their adjusted gross income. In 2010 the couple’s adjusted gross income was reportedly $1.7 million. In 2009 the couple reported an adjusted gross income of $5.5 million.
It has been reported that half of the income of the Obama family is made up of President Obama’s salary while the other half of their income comes from sales of books.
Born Barack Hussein Obama II on August 4, 1961 in Honolulu, Hawaii, U.S. Barack Obama was elected as the 44th President of the United States in 2008.
He graduated with a Juris Doctor from Harvard Law School. During his presidency he established The Patient Protection and Affordable Health Care Act.
Jihadist Osama Bin Laden, responsible for the 9/11 terrorist attacks, was found and killed during Obama’s administration. The President and his wife have two daughters, Sasha and Malia.