Yes, President Obama is a multimillionaire.
Being the president of the United States has done well for his portfolio, as you will see below. But that was expected when he was elected president.
It’s easy to assume that the leader of the most powerful country in the world has at his disposal the best money managers in the business.
So let’s see where the president invests his money, and why it’s important to you, the investor.
Today, I will share with all my readers the specifics of the US president’s personal portfolio.
In 2013, President Obama earned a presidential salary of $400,000, plus a $50,000 annual expense account, a $100,000 nontaxable travel account, and $19,000 for entertainment.
Those amounts are exact and have been fixed since 2001 for all presidents.
US federal financial disclosure forms don’t give the exact amounts; instead they give a range, but my longtime readers know my background is complex mathematics, and this is the type of research I do for fun, so I’ll break it down for you.
Before I jump into the details, here’s why I’m doing this. I was recently invited to a lunch with Presidents Bush and Clinton that’s going to take place in the fall, and I wondered what I may have in common with them—in case casual conversation occurred. I was told President Obama might be a last-minute addition.
Well, like Bush, I like oil and uranium. Like Clinton, I’m a vegan. But Obama… that was a tough one—as I have nothing in common with the man.
So, rather than having an unpleasant experience talking about the government’s failed foreign policy if by chance I do speak with him, I thought it would be more productive to do some research on the president’s portfolio—so if he asked, I’d be informed enough to talk about it.
So just before checking out of my wonderful hotel in Barcelona (on a side note, if you ever have the chance to visit Barcelona, make the effort to visit the Basilica de la Sagrada FamÃlia, built by famous architect Antoni Gaud×regardless of your religious beliefs, it’s an architectural wonder), I downloaded the most recent Executive Branch Personnel Public Financial Disclosure Report and during my nine-hour flight back home, I went painstakingly through each Excel cell of the president’s portfolio—and I’m sure you’ll be happy I did.
